Black dotted lines are support and resistance levels
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Finally, BTC was hit with bombshell of ETF decision date been shifted and the whole market go crazy, which broke down 6850 with full force and broke the last standing 6800 level.Now we have a new scenario in play as next support level lies between 6300-6100.
We may have possible re-test on the previous level at 6800 before further drop.
Note
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After breaking 6300$ down yesterday, BTC tends to continue downward with targart point situated at 5815$.We may have possible re-test on the support at 6300$ before further drop or price may go straight down.
Note:
If for any reason price find its way back above 6300, it invalidated this down scenario, then we may have another test on 6600$.
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BTC is consolidating again, and time for next move is near either pump or dump, here are some level to guide our trading decisions.On the Pump side we got resistance on the following level:
6305
6425
6915
7100
On the Bear side we got support from these levels:
6000
5943
Magical Trendline support start here:
5829
5768
5680
Anything below these aboved mention support means we will start a new set of support which are:
5487
5346
5265
then
4k supports.
Note
The above BAT pattern will be invalidated if price closes below 6140$Note
Considering the topic of this thread to be Magical trendline action on BTC, it happened yesterday we had the first test on the trendline at exactly 5858$ and price bounced off as expected.Here is monthly view of the trendline
This is the weekly view of it
We also have the 3days view of the event as the trendline show it worth
Then we have the action on the daily timeframe with the trendline
We finally narrow it down to the 4hours timeframe to see how it behave on smaller timeframe.
Stay tune guys as the post will be continuously updated as the event unfold.
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📢Follow the official links only! Trade smart, stay safe! 🎯
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
Related publications
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.