BTC's movement for today would be small downside then upwards due to the following reasons:
1. MACD at H1 and H4 is open downwards; however, higher time frames indicate upwards.
2. Strong downward pressure from 10200 followed by a dump indicates weakness of bulls.
3. 0.618 of fib is not yet done.
If this downtrend breaks the 9500 level, we're looking at more downside. If strong rejection at that level, we can safely say that it will continue to go up.
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. 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.
1. MACD at H1 and H4 is open downwards; however, higher time frames indicate upwards.
2. Strong downward pressure from 10200 followed by a dump indicates weakness of bulls.
3. 0.618 of fib is not yet done.
If this downtrend breaks the 9500 level, we're looking at more downside. If strong rejection at that level, we can safely say that it will continue to go up.
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. 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.