Hi,
This weekend, I’ll be mapping out BTC’s path based on the weekly timeframe so we can monitor its behavior over the last two days of the week. We’ll focus on how the weekly (W) and daily (D1) candles close.
If the price action unfolds as I anticipate, the D1 and H4 timeframes will push BTC higher than its current range of 87k-88k, where it might either consolidate sideways or pull back slightly. This is also the zone where both the D1 and W candles will close.
This price level is critical. If BTC hits this target and the weekly candle closes strong, it’ll gain momentum to climb toward the higher range of 92k-97k, supported by the weekly timeframe.
Summary:
Per the plan, let’s see how BTC chews through these levels!
This weekend, I’ll be mapping out BTC’s path based on the weekly timeframe so we can monitor its behavior over the last two days of the week. We’ll focus on how the weekly (W) and daily (D1) candles close.
If the price action unfolds as I anticipate, the D1 and H4 timeframes will push BTC higher than its current range of 87k-88k, where it might either consolidate sideways or pull back slightly. This is also the zone where both the D1 and W candles will close.
This price level is critical. If BTC hits this target and the weekly candle closes strong, it’ll gain momentum to climb toward the higher range of 92k-97k, supported by the weekly timeframe.
Summary:
- Short-term (D1 & H4): BTC will reach around 88k, hover there as we await the weekly candle close, and then resume its upward journey into the following week.
- Mid-term (W): A solid weekly candle close will fuel BTC’s next leg up, targeting 92k-97k with support from the weekly trend.
- Post-mid-term: After this move, BTC will likely retrace to 72k or 66k, setting up a swing short opportunity.
Per the plan, let’s see how BTC chews through these levels!
The RainBow MG3 Indicator identifies trends, reference prices, wave start times, and trend endpoints while sending alerts to your personal Telegram. Join the RainBow MG3 community on Telegram: t.me/rainbowmg3
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.
The RainBow MG3 Indicator identifies trends, reference prices, wave start times, and trend endpoints while sending alerts to your personal Telegram. Join the RainBow MG3 community on Telegram: t.me/rainbowmg3
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.