BTC Rally Targets

Updated

My Potential Targets for a Local Top on BTC/Crypto is the 20W SMA for USDT.D and the zone between 4.71 - 4.81.

Confluence with 1D RSI (it should be in bottom zone by 1st, if not 2nd Target.

The zone and MA has acted as Support 3 times previously in 2024:

July 29th, 2024
July 22nd, 2024
June 17th, 2024

I will be watching those areas for a bounce in USDT.D which would correlated with a local top in Crypto/BTC

Note

Something I forgot to add:

The 20 W SMA is just the Bollinger Band Midline on the Weekly Chart. if you want to see this on Daily without having to wait for each weekly close, use 140 SMA (20 x 7 days)and set it to the 1D timeframe

For a better sense of what I mean, Add Bollinger Bands and check these dates on the USDT.D Weekly Chart.

Oct 16th 2023
May 8th, 2023
Aug 15th, 2022
April 4th, 2022
Nov 29th, 2021

It's a good indicator for HTF trend/Inflection Points even if you occasionally get some choppy signals (May 26th - Aug 7th 2023)

Hope this helps :)

Trade closed: target reached

Almost Picture Perfect Bounce from the 20 W SMA for USDT.D

so idea was sound. Going to wait and see how PA develops over the week

Something to note is since July, BTC has bottomed on the 5th or 6th of the month.

So we might see similar here.

HopiumDealer7

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