The resistance in question sits at $75,622 and is the 0.236 Fib. extension level in relation to the last correction. See how these Fibonacci levels tend to work to perfection. This level was revealed as soon as the 6-February low came in, and it has been active now for an entire month.
The first challenge happened 17-March and the same day we saw a rejection, a retrace ending with a higher low.
The second challenge happened 14-April and the action remains close to resistance, this is the interesting part.
When bearish, see how fast a rejection happened the same day. With a bullish market, the action remains close to resistance making it weaker with each passing day. Bitcoin is getting stronger.
If the trading moves lower this last statement would be nullified of course but we would still expect a higher low. So far, this isn't likely because the altcoins market is truly starting to heat up. Now dozens of projects growing two to three digits green on a single day.
Back to the Fibonacci levels. $75,622 worked perfectly as resistance. Bitcoin peaked above it, $76,000, and below it, $74,000. Following this same tool we know the next stop, here shown as 0.382 and $85,287.
I've been talking about $79,000 and a wick above $80,000. This is based on a smaller move and timeframe. Based on the brutal bear market correction, $85,287 is the next major level to be challenged on the way up.
Only one condition needs to be met for this level to become active; Bitcoin needs to break, close and stay above $76,000 and we know that ~$85,300 becomes unavoidable. This is where we are headed next.
Thank you for reading.
I hope you enjoy the content.
Namaste.
The first challenge happened 17-March and the same day we saw a rejection, a retrace ending with a higher low.
The second challenge happened 14-April and the action remains close to resistance, this is the interesting part.
When bearish, see how fast a rejection happened the same day. With a bullish market, the action remains close to resistance making it weaker with each passing day. Bitcoin is getting stronger.
If the trading moves lower this last statement would be nullified of course but we would still expect a higher low. So far, this isn't likely because the altcoins market is truly starting to heat up. Now dozens of projects growing two to three digits green on a single day.
Back to the Fibonacci levels. $75,622 worked perfectly as resistance. Bitcoin peaked above it, $76,000, and below it, $74,000. Following this same tool we know the next stop, here shown as 0.382 and $85,287.
I've been talking about $79,000 and a wick above $80,000. This is based on a smaller move and timeframe. Based on the brutal bear market correction, $85,287 is the next major level to be challenged on the way up.
Only one condition needs to be met for this level to become active; Bitcoin needs to break, close and stay above $76,000 and we know that ~$85,300 becomes unavoidable. This is where we are headed next.
Thank you for reading.
I hope you enjoy the content.
Namaste.
Transaction en cours
Bitcoin just hit the highest price since 4-February, since the crash final low, confirming a total recovery. The final resistance is about to be conquered. The move toward $85,000 is now underway. Confirmation happens once this day, or any other day, closes above said level.Good profits and good luck.
Good morning my fellow Cryptocurrency trader, I hope you are having a wonderful day.
Namaste.
Trading Cryptocurrencies can be the hardest undertaking ever without the right trade-numbers, without accurate private-access information. Free is free, but the best always requires sweat, an investment. Since 2017 👇
t.me/masteranandatrades/8778
t.me/masteranandatrades/8778
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Trading Cryptocurrencies can be the hardest undertaking ever without the right trade-numbers, without accurate private-access information. Free is free, but the best always requires sweat, an investment. Since 2017 👇
t.me/masteranandatrades/8778
t.me/masteranandatrades/8778
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.