anyway next up where is BTC price going to go in the next 24 to 48 hours
starting with the weekly chart we can see that the has just ticked and the last time this happened was when BTC went 4x from the bottom. the is cooling off a bit and we are still well within a trading range.
moving onto the we can see bitcoin got rejected at the top of the rising green trading range. this actually wasn't that bad for the or the with both retaining their bias
however switching to the 4hr chart it starts to get more interesting
the 4hr looks , much more cool off still to come, still hot is neutral
the red trading range is an important one to note a break to the bottom side of this would yield a drop to around 9100 and it would happen quick
but dont start opening shorts just yet, the 4hr is the only case we have seen so far, the 1hr (pictured) is with a rising the is exhausted to the low side and the is neutral with a bias
30m looks to have a slight bias. the interesting point here will come when bitcoin has to either break to the upside (red line) or break to the downside (green line) in this formation and this is where we will look to trade
so a break of around 9920 would yield 10k+ BTC
any break below the green line then expect to trade sideways for a bit before breaking to the lowside very quickly, finding support at 9600 for a couple hours and then continuing to break down
in all likelihood i am very on bitcoin and unless we dip below 9600 im not considering shorting
i am holding longs at the moment, i will open even more if we break 9920, i would consider this theory invalid if we broke back below the red line so i am posting this chart to trading view so you can all stay up to date with it
other than that not much else to say other than ditch your current exchanges and use bybit, here is my ref link 😉 https://www.bybit.com/app/register?affil...
or use duedex https://www.duedex.com/register?code=KYY...
duedex is very simple, they just added a really cool risk management tool
BTC pair on there only at the moment
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