Bitcoin (BTC): EMAs Are Still Far From Marketprice
On a weekly timeframe, our gameplan remains the same, where price still hovering near upper resistance zone.
We see a fight between buyers and sellers where currently buyers are dominating and possibly going for another tocuh to that major resistance zone.
As long as we are below this major resistance zone, our gameplan will remain the same, EMAs are far from market price, so we need to see a correctional movement to stabilise them!
Swallow Team
We see a fight between buyers and sellers where currently buyers are dominating and possibly going for another tocuh to that major resistance zone.
As long as we are below this major resistance zone, our gameplan will remain the same, EMAs are far from market price, so we need to see a correctional movement to stabilise them!
Swallow Team
Note
Bulls are showing good dominance at the start of the day, where they are trying to form a full break of structure and break the smaller resistance (blue zone).
We are keeping a close eye on it, as if we see any rejection or weakening near this zone, we will look for the start of downward movement, but if we manage to break it, then the major resistance zone will be tested!!.
Never the less, the end game should see one good correction so for now it seems like a like a good time for DCA!
Note
Price is back at resistance zone, where we are already seeing some kind of weakness hitting the marketprice.
As we are now in very important zone (between the resistance zone and ATH zone), we are looking at this zone as good DCA place, so eyes wide open and let's see how it goes from here 😉
Note
Bitcoin has made a nice break from the local resistance zone where buyers are maintaining the zone so far, leaving the RSI in the overbought zone.
We are looking here for a possible move to the upper orange line after what we want to see: a steep movement to the lower zones.
So far everything goes by plan and we are now in wait for some sharp move or a liquidity movement to upper zones after what we want to see: a break of EMAs!
Note
Sellers are showing good dominance currently where price is heading back for a re-test of broken zone.
We are looking here for a failed re-test and a sharp liquidity movement that would leave price back below that broken zone and possibly break also the EMAs here!
Note
Bitcoin is still trading above our broken zone, which has not been re-tested.
While we did not see a re-test, we saw pressure from buyers, which might result in another BoS and a movement to the upper ATH zone.
As we have not re-tested the broken zone, this push, which might happen, would be weak in our opinion, so our gameplan has not changed! We want to see a re-test and a move back to lower zones happen sooner or later!
🚨 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.