WATCH OUT! Crazy price actions and anything can happen anytime, as seen in 3 purple arrows again.
BTC's movement for today is short term bull biased due to the following reasons:
1. Price action showed strong rejection of the 9200 level.
2. Momentum for a dump is needed and will be achieved at around 9550-9700 level.
However, BTC's movement is medium term bear due to the following reasons:
1. MACD of H1 and H4 are pointing downwards.
2. Bears will gain momentum at 9550-9700 level.
3. Fib retracement can go up to 8870 level.
On the other hand, that bear movement would most likely just be a correction because BTC is largely on the bull run due to MACD of D1 and W1 is open upwards.
Thick yellow lines - end of range
Thin yellow lines - minor resistances
Purple arrows - possible movement/scenarios today
Price action can be a lot different from this post, anything can happen anytime. Be prepared of what can happen because a lot of FACTORS are not mentioned in this chart, it is supposed to be as easy to read as possible. Please do your own research and continue to watch the price action.
Have a good risk reward ratio!
Be wary of false breaks! Trading is RISKY, always put stop losses.
TRADING IS REACTIVE, NOT PREDICTIVE.
BTC's movement for today is short term bull biased due to the following reasons:
1. Price action showed strong rejection of the 9200 level.
2. Momentum for a dump is needed and will be achieved at around 9550-9700 level.
However, BTC's movement is medium term bear due to the following reasons:
1. MACD of H1 and H4 are pointing downwards.
2. Bears will gain momentum at 9550-9700 level.
3. Fib retracement can go up to 8870 level.
On the other hand, that bear movement would most likely just be a correction because BTC is largely on the bull run due to MACD of D1 and W1 is open upwards.
Thick yellow lines - end of range
Thin yellow lines - minor resistances
Purple arrows - possible movement/scenarios today
Price action can be a lot different from this post, anything can happen anytime. Be prepared of what can happen because a lot of FACTORS are not mentioned in this chart, it is supposed to be as easy to read as possible. Please do your own research and continue to watch the price action.
Have a good risk reward ratio!
Be wary of false breaks! Trading is RISKY, always put stop losses.
TRADING IS REACTIVE, NOT PREDICTIVE.