BTC / USDT - 38,000? Is it real now or is it a big correction?
Updated
Hello dear friends.
Is it possible now to see the price of 38,000 per bitcoin on such a market, or still wait for a big correction?
Write your opinion in the comments.
I have
NEW preliminary CME targets for January 2021 have appeared on the market. They look like this:
🤑Upper limit 38200 - 34400
🤑 Lower limit 26400 - 22600
What does it mean?
So this means that with a high degree of probability, by the end of the month, the price will be in one or another range that I gave.
- We have very large sales (bright red rectangle) price values: 33750 - 34450
- We have a strong resistance line - level 34150
- We have an ascending triangle + channel in which the price is traded.
- We have another meaning - namely, margin trading - bitcoin price movements of 2500 points.
- We have a lot of unclosed GEPs (yes, I know that they do not always close) - but before that 92% - everything worked fine.
- We have growth without correction
- Candle analysis indicates a drop in forces ...
and many other factors.
How do you know which position to enter?
Watch the level 34150 - if the price is above this level, a breakout on the impulse, trades above this range, (1-2-4 hours TF) is definitely a Long position.
In the meantime, work from the short position, since, according to my observations, the price will pull to the lower values ​​of the CME.
We'll see.
Since I suffered a small minus today, I decided to take a break and see how the price would react (I have the most important short position - open from 34450)
Therefore, I open another position from 33750 (the range I wrote about)
Same as in the comments about the strong level 32500-32700
Everything works fine)
The trading idea is below - you can see.
Sale from 33750
Target: 33050 - 32580 - 31900 - 31500
Stop Loss 34190
A lot is solved by the yellow rectangle
And I immediately warn you - if the price returns to the range of 33750-34000 - I will do the reverse position without hesitation
Since there will be a double bottom pattern, and we are able to calculate the size of such patterns)
Is it possible now to see the price of 38,000 per bitcoin on such a market, or still wait for a big correction?
Write your opinion in the comments.
I have
NEW preliminary CME targets for January 2021 have appeared on the market. They look like this:
🤑Upper limit 38200 - 34400
🤑 Lower limit 26400 - 22600
What does it mean?
So this means that with a high degree of probability, by the end of the month, the price will be in one or another range that I gave.
- We have very large sales (bright red rectangle) price values: 33750 - 34450
- We have a strong resistance line - level 34150
- We have an ascending triangle + channel in which the price is traded.
- We have another meaning - namely, margin trading - bitcoin price movements of 2500 points.
- We have a lot of unclosed GEPs (yes, I know that they do not always close) - but before that 92% - everything worked fine.
- We have growth without correction
- Candle analysis indicates a drop in forces ...
and many other factors.
How do you know which position to enter?
Watch the level 34150 - if the price is above this level, a breakout on the impulse, trades above this range, (1-2-4 hours TF) is definitely a Long position.
In the meantime, work from the short position, since, according to my observations, the price will pull to the lower values ​​of the CME.
We'll see.
Since I suffered a small minus today, I decided to take a break and see how the price would react (I have the most important short position - open from 34450)
Therefore, I open another position from 33750 (the range I wrote about)
Same as in the comments about the strong level 32500-32700
Everything works fine)
The trading idea is below - you can see.
Sale from 33750
Target: 33050 - 32580 - 31900 - 31500
Stop Loss 34190
A lot is solved by the yellow rectangle
And I immediately warn you - if the price returns to the range of 33750-34000 - I will do the reverse position without hesitation
Since there will be a double bottom pattern, and we are able to calculate the size of such patterns)
Note
This is where I wrote about this level today.
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.