Buongiorno, come stai?
BTC seems to be in a retracement channel following a massive 17.5% swing up since last Friday.
We did not have enough buy volume in the $8100-8500 range, so we got rejected.
50 MA (orange) will meet BTC very soon; I expect a small bounce up, followed by a rejection, to either the 21 EMA (green) or the top of the channel around $8070 but ultimately coming back down to the .786 fib level.
This region would give us a great horizontal support range.
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Looking at the Shitbase order book.
$7700-7800 is our heaviest support with a small ditch effort at $7500, resistance is built between $7870-8030 followed by a small effort at $8300.
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All we can do is wait and see where we're headed.
Be happy.
BTC seems to be in a retracement channel following a massive 17.5% swing up since last Friday.
We did not have enough buy volume in the $8100-8500 range, so we got rejected.
50 MA (orange) will meet BTC very soon; I expect a small bounce up, followed by a rejection, to either the 21 EMA (green) or the top of the channel around $8070 but ultimately coming back down to the .786 fib level.
This region would give us a great horizontal support range.
----------
Looking at the Shitbase order book.
$7700-7800 is our heaviest support with a small ditch effort at $7500, resistance is built between $7870-8030 followed by a small effort at $8300.
----------
All we can do is wait and see where we're headed.
Be happy.
Note
We have broke out above the 21 EMA, looking like a good buy signal.
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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.