BTC DUE FOR A REVERSAL THIS WEEKEND IF PRICE CAN CLOSE ABOVE
Good day degens,
This is a pretty straight forward analysis with high success rate for calculating trend reversals on BTC, made this for the beginners out there. It's about as simple as you can get with TA, leave the fancy shit behind, stick to the basics.
We are looking at the BTC daily chart.
The green dotted lines act as support and the red act as resistance. The red circles act as sell signals and the green act as buy signals (next level stuff, right?). Every time BTC crosses our dotted support or resistance line, it acts as a trend reversal signal.
If BTC can close a daily candle above our next dotted red line (above $58,300 but 60k would be ideal), then it is very likely that BTC will resume it's bull run into December with targets between 75k-85k before experiencing another possible correction.
However, BTC closed below our bull run support (yellow line) which means we could see a possible wick to the 50k area before the red dotted line is broken. I believe this is just a flush of over-leveraged traders as well as new investors. This scenario may take a few days to play out
Not financial advice. Do your own work lazy ass...
Cheers fellow degens!
This is a pretty straight forward analysis with high success rate for calculating trend reversals on BTC, made this for the beginners out there. It's about as simple as you can get with TA, leave the fancy shit behind, stick to the basics.
We are looking at the BTC daily chart.
The green dotted lines act as support and the red act as resistance. The red circles act as sell signals and the green act as buy signals (next level stuff, right?). Every time BTC crosses our dotted support or resistance line, it acts as a trend reversal signal.
If BTC can close a daily candle above our next dotted red line (above $58,300 but 60k would be ideal), then it is very likely that BTC will resume it's bull run into December with targets between 75k-85k before experiencing another possible correction.
However, BTC closed below our bull run support (yellow line) which means we could see a possible wick to the 50k area before the red dotted line is broken. I believe this is just a flush of over-leveraged traders as well as new investors. This scenario may take a few days to play out
Not financial advice. Do your own work lazy ass...
Cheers fellow degens!
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