Choppy Waters. Clearer after weekly candle closes
Resistances
At the moment the largest block of resistance price will encounter on the way back up is from $6750-6850. This lines up with the previous level of breakout and the .618 fib.
Should we see price break above $6850 on a significant time frame, the next level that will give price trouble will be from $7.1-7.2k.
Supports:
At the moment price is attempting to hold above the support level from $6.3-6.4k, created by the previous 4H bullish order block and the .618 fib.
A close below 6.3k on significant time frames (>4H) will likely lead price back to test $6100-6150.
At the moment the largest block of resistance price will encounter on the way back up is from $6750-6850. This lines up with the previous level of breakout and the .618 fib.
Should we see price break above $6850 on a significant time frame, the next level that will give price trouble will be from $7.1-7.2k.
Supports:
At the moment price is attempting to hold above the support level from $6.3-6.4k, created by the previous 4H bullish order block and the .618 fib.
A close below 6.3k on significant time frames (>4H) will likely lead price back to test $6100-6150.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.