BTCUSDT hit support and likely to head to 25500BTCUSDT is facing some push back here. The price hast hit now 4h support and a long would be favorable here. Lets target 25500 level first.
Btcusdttrade
BTCUSDT long from 4h or daily support zoneBTCUSDT is finally trading under the daily resistance. This is the resistance in its way before clearing the recent high of 25250. Any pullback currently is very good opportunity for day trading. There can be short opportunities but the momentum in the long direction is very strong and any short for day trade is currently not advisable. Let us try a long if this pullback hits the daily support. This would be a conservative long. A more aggressive long would be if it is taken when price hits 4h support. Let us try small position at 4h support and if price breaks though that then a bigger position at daily support 1 zone.
BTCUSDT to aim up for daily resistance around 22380BTCUSDT has finally managed to move up the very important daily support it broke a few days earlier. Now it is trading above that level and very likely to close above that level. I would expect the price to aim for the daily resistance 1 zone around 22380 with a bit of pullback.
BTCUSDT likely to visit weekly support around 19400 and bounceThe downward pressure did not allow the daily support to produce any significant bounce and that led the expectation from previous idea to be not fulfilled. Since the price has broken the daily support and closed below it, it is likely that it will head towards the weekly support. I believe there is going to be a very nice opportunity to long it from there.
BTCUSDT hit next daily support, to head up towards 21600 zoneThe price did not go as was expected in the previous post. The price has now hit the next daily support. I believe it is likely that price will have a good bounce from here.
BTCUSDT hitting daily support. Expect a bouncePrice hitting daily support zone. There should be a good bounce probably aiming for 4h resistance zone.
BTCUSDT may head for next 4h resistance around 24450-24550So the step L1 shown in the graph was achieved as explained in the previous post. From the price action characteristics, it appears that the price is not content with being held back by this current 4h resistance 1 zone. I expect a small pull back max to the level shown by S2 step and then move higher on the L3 path. But it is possible that this S2 step might be very small.
BTC - Be careful of $23950BYBIT:BTCUSDT.P
4h time frame
-
Shorting positions should notice 23950 in 4h (as I'm holding)
The circled place shows that it broken and went back above 23950, then reversed the bearish structure
BTCUSDT probably heading for next 4h support zone Price breaking the 4h support 1 zone. This opens the way for downward movement to the next 1h support and then 4h support 2 zone. The path how I expect the price to move has been depicted on the chart.
BTCUSDT to break 4h resisatance and move higherPrice was consolidating under 4h resistance 1 zone and finally broke out of that to the upside. I believe this 4h resistance 2 zone is not going to bother the price much this time and the price, with just a bit of hesitation, will break it to the upside.
BTCUSDT likely to hit previous 4h support zoneBTCUSDT clearly got rejected from the 4h resistance 2 zone marked on the chart. Currently it is struggling to hold the 4h resistance 1 zone from where it broke out and attempted to break next resistance zone. The price will momentarily bounce here as current zone marked as 4h resistance 1 zone will act as a support.However, a next hit to this zone will let the price flow towards the next 4h support area.
BTCUSDT likely to retest the 24936 levelThe price has dipped below 4h support region. But the current 4h candle is still active and very likely will close above 4h support and target for the upper resistance zone marked on the chart around 24936 level.
BTCUSDT right on its way to monthly resistance of 35k-37k zoneLet again have a look at the monthly view. We are on the right path on the monthly resistance around 35k-37k zone. This was also mentioned in one of the posts on 29th January.
There will be some pullbacks in between but I think the probability favors that the price hits the monthly resistance.
BTCUSDT heading for next weekly resistance at 29700Weekly candle looking very strong and good. Next weekly resistance sits around 29700. Looks like price is headed first for that weekly resistance. As mentioned in one of the previous posts on jan 29th, the significant target is monthly resistance at 35k-37k range. But let us focus on the weekly first.
BTCUSDT likely to head to previous 4h resistance truned supportBTCUSDT likely to hit the previous 4h support area. That level is around 22666.
BTCUSDT heading for 4h range high 23300The price has reclaimed the broken 4h resistance support. This indeed paves the way for the price to retest the 4h range high at 23300.
BTCUSDT hit the 4h and daily support, may head for 23300 levelThe price hit the 4h support area which is also a daily support area. We will see a bounce here probably.
This bounce has a probability to at least reach 23300 level which is a 4h resistance area. We will see how the price action is once the price reaches that resistance level of 23300.
BTCUSDT current 4h candle has a higher probability of being greeThis current 4h candle (UTC 12:00 - 16:00) has a higher probability of being a green one.
BTCUSDT current 1h candle has a higher probablity of being redThis current 1h candle (UTC 13:00 - 14:00) has a higher probability of being a red one.
BTCUSDT trading inside weekly resistance zoneThis weekly resistance range is indeed a strong one as price is not able to easily move above it even on intra week basis. However, once price trades above this resistance for a a day or so it is more likely that the weekly candle will close above this resistance zone.
By looking at the several attempts and the price trading longer in the resistance zone rather than below it, suggests the probability to break it further up side is higher. And that increases the probability for the weekly price to close above this weekly resistance zone higher.
BTCUSDT breached recent high as suggested There you go BTCUSDT crossed the recent high of 23960 as suggested in the previous post. The close of 4h candle above the 4 hour resistance and then bounce upon the retest of that support at 23300 confirmed this breach of the recent high at 23960.
However, the price could not cross the weekly resistance zone and for now pushed back and remains in this resistance zone.
BTC is getting ready for the Big moveHi guys, This is Martin, One of the most active trading view authors and fastest-growing communities.
Consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome to this chart, Do not consider financial advice.
#BTC UPDATE
BTC is forming this big falling wedge pattern
what is falling wedge pattern
The falling wedge is a bullish pattern . Together with the rising wedge formation, these two create a powerful pattern that signals a change in the trend direction. In general, a falling wedge pattern is considered to be a reversal pattern, although there are examples when it facilitates a continuation of the same trend.
*BTC Need to Clear the 18,500 Resistance to Confirm the Falling Wedge Breakout
* RSI is also sowing some bullish divergences move
*If it conform this pattern then according to the pattern we will see good bounce
Stay tuned I will keep updating
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
