Bitcoin has shown strength. The next target 11K?
Updated
BTC 1 DAY
🔸 XBTUSD chart indicates the presence of consolidation in which Bitcoin has been since the beginning of May 2020.
🔸 The priority is to exit the consolidation up to the level of 11000. More precise values should be watched when approaching to the zone of 10700 - 11000.
🔸 Among the factors for long position, it is possible to distinguish the retention of 0.5 consolidation level by buyers, as well as break of market structure by forming HL and HH.
🚫 Cancellation of the scenario will be the weakness of the buyers during the correction to the zone 9280 - 9360. Breakdown of 0.5 range level and consolidating below 9140 may lead to a cascading closure of positions and fall to the zone 8500 - 8600.
📌 We'll be looking for entry points on the lower timeframes.
BTC 4 HOURS
🔸 We received a sales reaction from the zone 9790 - 9890, which indicates the possible start of a local correction by BTC.
🔸 The first zone of interest for opening long positions is 9425 - 9475, which corresponds to the OTE level of Fibonacci.
🔸 The second entry zone is 9280 - 9360. As a guideline I use a candle that has absorbed a downward movement, from which the impulse started.
🔸 Long shadows of candles and a large volume of purchases while trying to break through 0.5 trading range level gave reason to believe that the buyer is determined to go up to the upper border of the channel.
🔸 We also have a confirmation of the bullish potential on the higher timeframe.
⌛️ I expect price to test interest areas and make a subsequent impulse to the level of 9970. Breaking that level up and consolidating above would open path to $11000 for 1 Bitcoin.
BTC 1 HOUR
🔸 Will be considering entry zones in the moment, focusing on additional factors on the LTF.
Stay tuned for updates.
#killzonemaster 👁️
🔸 XBTUSD chart indicates the presence of consolidation in which Bitcoin has been since the beginning of May 2020.
🔸 The priority is to exit the consolidation up to the level of 11000. More precise values should be watched when approaching to the zone of 10700 - 11000.
🔸 Among the factors for long position, it is possible to distinguish the retention of 0.5 consolidation level by buyers, as well as break of market structure by forming HL and HH.
🚫 Cancellation of the scenario will be the weakness of the buyers during the correction to the zone 9280 - 9360. Breakdown of 0.5 range level and consolidating below 9140 may lead to a cascading closure of positions and fall to the zone 8500 - 8600.
📌 We'll be looking for entry points on the lower timeframes.
BTC 4 HOURS
🔸 We received a sales reaction from the zone 9790 - 9890, which indicates the possible start of a local correction by BTC.
🔸 The first zone of interest for opening long positions is 9425 - 9475, which corresponds to the OTE level of Fibonacci.
🔸 The second entry zone is 9280 - 9360. As a guideline I use a candle that has absorbed a downward movement, from which the impulse started.
🔸 Long shadows of candles and a large volume of purchases while trying to break through 0.5 trading range level gave reason to believe that the buyer is determined to go up to the upper border of the channel.
🔸 We also have a confirmation of the bullish potential on the higher timeframe.
⌛️ I expect price to test interest areas and make a subsequent impulse to the level of 9970. Breaking that level up and consolidating above would open path to $11000 for 1 Bitcoin.
BTC 1 HOUR
🔸 Will be considering entry zones in the moment, focusing on additional factors on the LTF.
Stay tuned for updates.
#killzonemaster 👁️
Note
The first zone did not work. Came immediately into the second.Carefully look at the level 9270 level. Below is the buyer's weakness.
Note
Note
Such MS will show the buyer's weakness:Note
Trade closed: target reached
Bitcoin reached $11400+ level 🚀
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