BITCOIN MACRO VIEW
BTC closes the daily candle with a final 6H bullish continuation candle.
SELL volume has been increasing over the last 24-72H even though price is making higher highs and higher lows.
Next target at +44K ( which is wave3, 3800-44k) is 1.618 extension of the macro wave (wave1, 3100-1400).
Since volume is increasing approaching 1.618. this is time to exercise caution starting at 44k.
The 7D candle just closed today (Jan7 2021)
The candle opened at 28955 and closed at 39.5k.
Therefore 28955 is point of reference going forward. Any strong sell volume could get bought up at 28955 +-1%.
Note: yearly low at 27744.
Immediate support at
2) 6h 21 at 35035
1) 8h 21 34210
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SELL volume has been increasing over the last 24-72H even though price is making higher highs and higher lows.
Next target at +44K ( which is wave3, 3800-44k) is 1.618 extension of the macro wave (wave1, 3100-1400).
Since volume is increasing approaching 1.618. this is time to exercise caution starting at 44k.
The 7D candle just closed today (Jan7 2021)
The candle opened at 28955 and closed at 39.5k.
Therefore 28955 is point of reference going forward. Any strong sell volume could get bought up at 28955 +-1%.
Note: yearly low at 27744.
Immediate support at
2) 6h 21 at 35035
1) 8h 21 34210
Join Sen Crypto Premium for more detailed analysis and ALTS trading
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