RLinda ! BTCUSD-> A new range has been opened. Rising to $24200
Updated
Bitcoin is renewing its 7-month highs (a local peak of $22781 was set on September 13. On January 21, the price updates to $22790)
As I said in the previous review, that the close of the weekly candle will determine bitcoin's future potential. And so it does. Price continues to rise and after another 6-day consolidation we see momentum at 9% which opens up new potential. The price enters a new range.
Current situation:
The daily timeframe is open. We see support at 22485 and the previous candlestick closed above the level, which tells us that the market is ready to continue its growth. There is a potential for strengthening to 24198 (resistance). The next target is much closer, the resistance 24459.
Moving averages on the daily chart:
200 daily moves to the support side
50-day is also playing the role of support.
Trading volumes are increasing.
It is also worth to pay attention to an interesting nuance:
Recently, the price left a strong consolidation zone, Breaking through the resistance zone of 21500 - 21600. The price is aiming for the area of 24000, which is a key area of liquidity and strong levels, which might be the first target for a major player.
But!: The 24000-30000 zone is a vacuum zone according to the "volume profile" indicator. This means - if the price passes the 24000 level and consolidates above it, then the price can quickly enough reach the liquidity zone from the resistance side, which starts at the 30000 level.
The reasons why I believe that the price can continue its rise to 24000 and to 30000:
1) A key support level has been broken at this point and price is consolidating above it.
2) The market, judging by the statistics, has activated a lot of short-players, and as we know, in an active market the price goes against the crowd.
3) Bitcoin hashrate makes out a record (growth of hashrate was leading indicator of BTC rate growth).
4) Sentiment notes a sharp jump in optimism in the crowd
5) Volatility and trading volumes increase
Regards to R. Linda!
As I said in the previous review, that the close of the weekly candle will determine bitcoin's future potential. And so it does. Price continues to rise and after another 6-day consolidation we see momentum at 9% which opens up new potential. The price enters a new range.
Current situation:
The daily timeframe is open. We see support at 22485 and the previous candlestick closed above the level, which tells us that the market is ready to continue its growth. There is a potential for strengthening to 24198 (resistance). The next target is much closer, the resistance 24459.
Moving averages on the daily chart:
200 daily moves to the support side
50-day is also playing the role of support.
Trading volumes are increasing.
It is also worth to pay attention to an interesting nuance:
Recently, the price left a strong consolidation zone, Breaking through the resistance zone of 21500 - 21600. The price is aiming for the area of 24000, which is a key area of liquidity and strong levels, which might be the first target for a major player.
But!: The 24000-30000 zone is a vacuum zone according to the "volume profile" indicator. This means - if the price passes the 24000 level and consolidates above it, then the price can quickly enough reach the liquidity zone from the resistance side, which starts at the 30000 level.
The reasons why I believe that the price can continue its rise to 24000 and to 30000:
1) A key support level has been broken at this point and price is consolidating above it.
2) The market, judging by the statistics, has activated a lot of short-players, and as we know, in an active market the price goes against the crowd.
3) Bitcoin hashrate makes out a record (growth of hashrate was leading indicator of BTC rate growth).
4) Sentiment notes a sharp jump in optimism in the crowd
5) Volatility and trading volumes increase
Regards to R. Linda!
Trade active
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Bitcoin is testing a price of $23362Trade active
Note
BTCUSD +$23800 in moment!
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NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
🧿Web: rlinda.com
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