How BTC Plays with this Level will DETERMINE Where it will Go
Hey guys and girls!
Today I am going to be showing a unique 2 Week BTC chart.
I first want to start off by sharing how I made the blue trend channel:
- This is a Fib Channel
- Point 1 was the $31.90 Top in June of 2011
- Point 2 was the $1177.19 Top in November of 2013
- Point 3 was the $2.01 Bottom in November of 2011
- I made this as a step ladder, going from 0 to 2.3, with incremental steps of 0.1
As you can see, even by just drawing this using points from 2011-2013, this has helped to show where crucial market tops and bottoms are, including the Top in 2017, and the Bottom in 2018.
Now for the indicator. This is CryptoCrewUniversity's Hybrid Indicator. I have created a white trend line on top of it. Every time BTC has closed beneath the white line, price action went down to a lower blue fib level. Every time that BTC has closed above the white line and used it as support, BTC has climbed towards higher blue fib lines.
This candle is going to close later today, and we are going to want to see how Steve's Hybrid Indicator closes, whether it will close above or below the white line. It may even close directly at the white line, and, theoretically, you would want to wait for another 2 week candle close to see if BTC will use it as support and bounce above it, or close down below it.
With price action, the low of this 2 Week Candle has almost touched the white line (a blue fib level). For this current 2 Week Candle, the line is at the $44k mark.
If BTC were to go up on the next 2 week candle, the blue line is at $65k.
If BTC were to go down on the next 2 week candle, the blue line is nearly at $47k.
If BTC were to consolidate and stay at our current line for the next 2 week candle, it would be at $47k.
I hope you all found this idea helpful, feel free to use the fib channel idea and implement it on your own chart, so you always have it with you. Thanks to CryptoCrewUniversity for this awesome indicator, if you want it, be sure to go to his website at CryptoCrewUniversity.com, send him an email, check out his awesome courses, and follow him on Youtube if you haven't already.
@CryptoCrewUniversity
If you have his indicator, you could also use it on lower time frames and create trend lines, to get an earlier bird prediction as to whether BTC will hold this line and use it as support, or fall beneath and use it as resistance.
I hope you guys enjoyed this, if so, be sure to LIKE and SUBSCRIBE. Have a lovely day, and as always, be sure to do your own due diligence.
PS - You can use other indicators, the use of Doji Candles, etc, in conjunction with this Fib Channel Idea, to more accurately see potential dips, buying and selling opportunities, as well as market tops and bottoms.
TIP: I highly Recommend you scroll back on this chart, and see just how well BTC uses these Fib Lines as Support and Resistance.
Today I am going to be showing a unique 2 Week BTC chart.
I first want to start off by sharing how I made the blue trend channel:
- This is a Fib Channel
- Point 1 was the $31.90 Top in June of 2011
- Point 2 was the $1177.19 Top in November of 2013
- Point 3 was the $2.01 Bottom in November of 2011
- I made this as a step ladder, going from 0 to 2.3, with incremental steps of 0.1
As you can see, even by just drawing this using points from 2011-2013, this has helped to show where crucial market tops and bottoms are, including the Top in 2017, and the Bottom in 2018.
Now for the indicator. This is CryptoCrewUniversity's Hybrid Indicator. I have created a white trend line on top of it. Every time BTC has closed beneath the white line, price action went down to a lower blue fib level. Every time that BTC has closed above the white line and used it as support, BTC has climbed towards higher blue fib lines.
This candle is going to close later today, and we are going to want to see how Steve's Hybrid Indicator closes, whether it will close above or below the white line. It may even close directly at the white line, and, theoretically, you would want to wait for another 2 week candle close to see if BTC will use it as support and bounce above it, or close down below it.
With price action, the low of this 2 Week Candle has almost touched the white line (a blue fib level). For this current 2 Week Candle, the line is at the $44k mark.
If BTC were to go up on the next 2 week candle, the blue line is at $65k.
If BTC were to go down on the next 2 week candle, the blue line is nearly at $47k.
If BTC were to consolidate and stay at our current line for the next 2 week candle, it would be at $47k.
I hope you all found this idea helpful, feel free to use the fib channel idea and implement it on your own chart, so you always have it with you. Thanks to CryptoCrewUniversity for this awesome indicator, if you want it, be sure to go to his website at CryptoCrewUniversity.com, send him an email, check out his awesome courses, and follow him on Youtube if you haven't already.
@CryptoCrewUniversity
If you have his indicator, you could also use it on lower time frames and create trend lines, to get an earlier bird prediction as to whether BTC will hold this line and use it as support, or fall beneath and use it as resistance.
I hope you guys enjoyed this, if so, be sure to LIKE and SUBSCRIBE. Have a lovely day, and as always, be sure to do your own due diligence.
PS - You can use other indicators, the use of Doji Candles, etc, in conjunction with this Fib Channel Idea, to more accurately see potential dips, buying and selling opportunities, as well as market tops and bottoms.
TIP: I highly Recommend you scroll back on this chart, and see just how well BTC uses these Fib Lines as Support and Resistance.
