I'll start trying to update btc every week if there's anything interesting.
Seems like btc played out as per the previous update, bouncing off the zones and now doing it's 3rd (and most probably final) test of the supply zone .
Highly probable chance of breaking out considering that it's the 3rd test and the rejection from the prior test is pretty weak.
Looking down on the lower time frames (i.e. 30mins), we can see 3 white soldiers forming and that's pretty bullish i feel.
Probability of play?
Seems likely that we are going to break and swap this supply, heading up to the yellow area of 11300-11500 with a candle close above the zone on the 4h.
If a 4h rejection candle forms here (pin/doji/anything bearish ), we're looking for a downwards dip to find further support in the next yellow demand zone of 10300-10500.
Trade safe everyone.
Seems like btc played out as per the previous update, bouncing off the zones and now doing it's 3rd (and most probably final) test of the supply zone .
Highly probable chance of breaking out considering that it's the 3rd test and the rejection from the prior test is pretty weak.
Looking down on the lower time frames (i.e. 30mins), we can see 3 white soldiers forming and that's pretty bullish i feel.
Probability of play?
Seems likely that we are going to break and swap this supply, heading up to the yellow area of 11300-11500 with a candle close above the zone on the 4h.
If a 4h rejection candle forms here (pin/doji/anything bearish ), we're looking for a downwards dip to find further support in the next yellow demand zone of 10300-10500.
Trade safe everyone.
Note
Looks like that pump completely broke and swapped the purple area.furthermore, it ignored the yellow 11300-11500 areaand shot straight up. This shows a clear break and if the 1H TF were used, it would have shown a retest of area which could have been a long entry.
With this area as well as the trendline ignored and broken , the overall trend changes to bullish and we could long the retest of the yellow area (if it ever comes back), targeting the next block 12000-12200
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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.