BTC/USDT
Updated
Two key resistance areas: 19K, 17K
Two key support areas: 16K, 15.4K
BTC is currently trading between those ranges, if the price breaks above or below any of those levels, you will immediately know the direction of travel.
If BTC breaks below 16K, we could be going down to 15.4K which makes bulls very very vulnerable
If BTC breaks above 17K, we will be heading towards 19K which makes bears very very vulnerable
As traders we don't guess, we wait and then react to the situation. so whatever levels we break or breach, that is the direction of travel.
Two key support areas: 16K, 15.4K
BTC is currently trading between those ranges, if the price breaks above or below any of those levels, you will immediately know the direction of travel.
If BTC breaks below 16K, we could be going down to 15.4K which makes bulls very very vulnerable
If BTC breaks above 17K, we will be heading towards 19K which makes bears very very vulnerable
As traders we don't guess, we wait and then react to the situation. so whatever levels we break or breach, that is the direction of travel.
Note
so we got direction confirmation...BTC broke above 17K, YAY! so we are going towards 19K! bears are very vulnerable now and bulls are winningTrade active
Trade still active but I do expect BTC to correct towards 18K -19K to confirm that trendline that we broke out of was acting as supportTrade active
Resistance at 21K...we might correct to 18K-19K or might continue higher towards 23K - 24K. we cannot determine which way wins, we will have to wait and seeTrade active
Bull flag on 3D timeframe, shows consolidation is over. Bulls aren't giving up! they are defending the 20K region. we might continue to go to 23-24K, a re-test to 18K-19K is no longer valid.
JOIN ME ON TELEGRAM t.me/AZtrades
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.