BTC (Y19.P2.E14).Short.Resistance range
Updated
As the chart shows, there are potentially many resistance points and the question will be, which one of these will the majority chose.
Currently there is a bearish divergence in the 2 hrly chart but all clear above that.
BTC Dominance continues to go up slowly (chart below) until it hits the red section on the RSI
The resistance points are:
a) fib levels in the channel
b) MA
c) support and resistance levels
d) confluence with the 4 hrly RSI resistance range
The red section in the price chart and is the range and it has confluence with the following
a) inverse H&S target
b) 4 HRLY ema, blue being 200 and orange being 100 resistance
c) fib levels in the channel
d) support and resistance where 8K is the psychological barrier
e) RSI level.
I have spread my sell's within this range and expect a pullback of some sort and then I plan to wait and monitor
On the 1 HRLY chart, we have reached our price and hence expect a pullback at this point
2 HRLY chart
4 HRLY Renko chart
4 HRLY Dominance Chart
Previous target in previous BTC post
Please give a thumbs up or a like if you agree or just appreciate the effort.
Regards,
S.Sari /CryptoProspa
Long term, I do expect a reversal between 8000 and possibly to 8500 at most
Currently there is a bearish divergence in the 2 hrly chart but all clear above that.
BTC Dominance continues to go up slowly (chart below) until it hits the red section on the RSI
The resistance points are:
a) fib levels in the channel
b) MA
c) support and resistance levels
d) confluence with the 4 hrly RSI resistance range
The red section in the price chart and is the range and it has confluence with the following
a) inverse H&S target
b) 4 HRLY ema, blue being 200 and orange being 100 resistance
c) fib levels in the channel
d) support and resistance where 8K is the psychological barrier
e) RSI level.
I have spread my sell's within this range and expect a pullback of some sort and then I plan to wait and monitor
On the 1 HRLY chart, we have reached our price and hence expect a pullback at this point
2 HRLY chart
4 HRLY Renko chart
4 HRLY Dominance Chart
Previous target in previous BTC post
Please give a thumbs up or a like if you agree or just appreciate the effort.
Regards,
S.Sari /CryptoProspa
Long term, I do expect a reversal between 8000 and possibly to 8500 at most
Note
Note
Let's see where this takes us... bearish sign however I believe like all the other times, its part of a bigger wedge or pennant or channel formation. This could also be the highest its going to go...Trade closed: stop reached
The inverse H and S did not reach its potential target. The price respected the 4 HRLY 100 EMA like before the major 40% up-brake indicating we are still in the bear trend and looking for further lows. For now, it looks like its stuck in a downward channel, even though its gone up a channel. Until this EMA is decisively broken and retested, I would not go https://long.https://www.tradingview.com/x/2FMD42zz/
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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