BTC
Near-length hybrid average proves resistance at 47.7k with local BWAP resistance at 41k.
Breaker High at 62584 is the level required bulls to reclaim bullishness of the trend. Until it happens, the market is neutral or downside oriented.
Breaker Low at 29517 is the most important level in the chart within current price zone and should be considered last bullish bastion. In case this level is reclaimed bears with an ugly weekly/monthly close below that level, bulls are in big trouble and then we could optionally discuss any pre-mature bear markets. We still may see 30k lows swept (although low chances in my opinion) and even if we temporarily break 29517 for a brief moment but still manage to close the week above this level, that’s considered intraweek deviation and confirmation of demand – bullish fake out.
If Breaker Low Is lost, S3 21491 support is next and you always should be prepared for this in case military conflicts and global market crash occur.
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Breaker High at 62584 is the level required bulls to reclaim bullishness of the trend. Until it happens, the market is neutral or downside oriented.
Breaker Low at 29517 is the most important level in the chart within current price zone and should be considered last bullish bastion. In case this level is reclaimed bears with an ugly weekly/monthly close below that level, bulls are in big trouble and then we could optionally discuss any pre-mature bear markets. We still may see 30k lows swept (although low chances in my opinion) and even if we temporarily break 29517 for a brief moment but still manage to close the week above this level, that’s considered intraweek deviation and confirmation of demand – bullish fake out.
If Breaker Low Is lost, S3 21491 support is next and you always should be prepared for this in case military conflicts and global market crash occur.
If you liked my idea, follow me for more 🚀
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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.