BTCUSDT is testing an important support
Inverse head and shoulders failed, and the price had a breakdown from the daily support and descending channel.
At the moment the price is testing 39k, is the old Supply zone, now could become a new demand zone. It's weak in my opinion.
How to approach?
If the price is going to have a clear breakout from the demand zone, we could see a bounce on 0.618 Fibonacci level and retest the current support as new resistance.
IF the price is going to have a new rejection we could see another bearish impulse until 35k
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Follow the Shrimp 🦐
Keep in mind.
At the moment the price is testing 39k, is the old Supply zone, now could become a new demand zone. It's weak in my opinion.
How to approach?
If the price is going to have a clear breakout from the demand zone, we could see a bounce on 0.618 Fibonacci level and retest the current support as new resistance.
IF the price is going to have a new rejection we could see another bearish impulse until 35k
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
Not
The price is testing the old demand zone as new resistance.
If the breakout is confirmed, the next valid support is 34-33k
Not
The price is testing the previous demand zone as new resistance.the next hours are very important, the market is very nervous due to Russia - Ukraine
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.