ok after some kinda pumping time, we have a good and strong resistance ahead which is the upper band of the same rectangle we are stuck in from MAY 19.
we also have to consider some. other information such as RSI which will be in the overbought area at the time price reaches the upper band.
1st scenario: I think we will bounce down, but it's just an idea there are lots of possibilities,
2nd scenario: if the price could hold itself there and accumulate for 1 or 2 weeks, we could expect the break out of the upper band and continue the bull-run.
surely there are other possibilities, but I will wait and see what will happen tonight, and tomorrow we can decide what should we do .
I will update this IDEA
and I will put the 2 of my ideas here which I made before .
1-
2-
we also have to consider some. other information such as RSI which will be in the overbought area at the time price reaches the upper band.
1st scenario: I think we will bounce down, but it's just an idea there are lots of possibilities,
2nd scenario: if the price could hold itself there and accumulate for 1 or 2 weeks, we could expect the break out of the upper band and continue the bull-run.
surely there are other possibilities, but I will wait and see what will happen tonight, and tomorrow we can decide what should we do .
I will update this IDEA
and I will put the 2 of my ideas here which I made before .
1-
2-
Comment:
in the daily time frame, we broke the EMA 50. now we can consider it as a support.
Comment:
4H time frame :
A-we have two EMA 50 and 200, midline static channel, and the power full zone between Fibo 0.5 and 0.68
which indicates a great support PRZ zone there
B- I have 3 scenarios here :
1: prz zone or the blue support line will support price and we rise again
2: price won't go up nor down and will accumulate in the midline for a while
3: price will break the prz zone and reach the lower band of our static channel
A-we have two EMA 50 and 200, midline static channel, and the power full zone between Fibo 0.5 and 0.68
which indicates a great support PRZ zone there
B- I have 3 scenarios here :
1: prz zone or the blue support line will support price and we rise again
2: price won't go up nor down and will accumulate in the midline for a while
3: price will break the prz zone and reach the lower band of our static channel
Comment:
we are on a strong support level right now , there is possibility for price to rise again.
but we should pay attention to the world economic news , cause they define the money flow between markets.
last night we saw GOLD and DXY correlation went positive and its surely affect the whole market .
but we should pay attention to the world economic news , cause they define the money flow between markets.
last night we saw GOLD and DXY correlation went positive and its surely affect the whole market .
Comment:
if the RSi fall below 50% i think the uptrend move will die
Trade closed: target reached:
we are finish here i will continue updating BTC in separate idea