BTCUSDTSimilar to my previous idea, however, looking at the 3-day TF.
We've re-tested the lower areas of the previous breakout region to confirm support and should see some buying pressure building from here.
The Commodity Channel Index is heavily oversold right now and curling up, indicating a possible end to the selling pressure.
I think we will see 38.5k & 42k being re-tested shortly, with a decision being made once we reach them.
Here is the previous look on the daily chart:
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Having a little looksie at the daily chart, we are possibly breaking out of the symmetrical triangle which could lead to the next macro leg up for BTC!Note
Given the previous update to this idea, I have posted an idea based on the chart:
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Updated PA for the 3-Day chart, With some further bullish indication evidentNote
Yet another adjustmentNote
New Idea for BTC:
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Scary near-perfect rejection from that 0.382^closer view
^Same fib but low time-frame
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BTC S/R levels:Note
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Related charts are scattered throughout this idea:
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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.