Bitcoin (BTC): Back At Resistance Zone (Possible Rejection)
The new week is here and Bitcoin is back at a major resistance zone in the daily timeframe.
As this is just the weekly opening, we are monitoring the price reaction to that zone where a lot's of liquidity is and where we are seeking to see a rejection just last time when we had a fakeout near 100EMA (only this time we had the same movement at 200EMA).
If the pattern repeats itself, we should see yet another re-test to 200EMA, but before that, we need to see a confirmation of rejection from the upper zone this week!
Swallow Team
As this is just the weekly opening, we are monitoring the price reaction to that zone where a lot's of liquidity is and where we are seeking to see a rejection just last time when we had a fakeout near 100EMA (only this time we had the same movement at 200EMA).
If the pattern repeats itself, we should see yet another re-test to 200EMA, but before that, we need to see a confirmation of rejection from the upper zone this week!
Swallow Team
Note
So far, Bitcoin has been dropping nicely and slowly, showing us the resistance in the upper zones near the liquidity zone.
As of now, we have not yet secured this zone so we are looking for any sharp rejections to happen, which would show the dominance of sellers near this zone. We wait!
Note
We had a clean red daily rejection from the upper zone of liquidity, which is showing the dominance of sellers at this point.
Now we are looking for another similar candle to form as a confimation and we should see a re-test of both 100 and 200EMAs very soon!
Note
Bitcoin has made an amazing rejection since reaching that upper zone of liquidity. As of now, we are seeing the dominance of sellers so we keep an eye on further movement to lower zones and eventually a test of zones below 200 EMA.
Note
Bitcoin made an incredible movement to lower zones here, breaking completely out of the 50K zone. New zones to look at now so eyes wide open!
🚨 Authentic Mentoring
⚡️ Short-Term + Mid-Term Trades
Join our amazing team and be part of something bigger.
FREE: t.me/+fiEDSn7M9pJkODA0
⚡️ Short-Term + Mid-Term Trades
Join our amazing team and be part of something bigger.
FREE: t.me/+fiEDSn7M9pJkODA0
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.
🚨 Authentic Mentoring
⚡️ Short-Term + Mid-Term Trades
Join our amazing team and be part of something bigger.
FREE: t.me/+fiEDSn7M9pJkODA0
⚡️ Short-Term + Mid-Term Trades
Join our amazing team and be part of something bigger.
FREE: t.me/+fiEDSn7M9pJkODA0
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.