btcusd bitcoin/ u.s. dollar
the crypto heavyweight showed a lot of downside momentum in 2022, trading in a downtrend for almost the whole year.
In Nov 22 price found support around the $16k price areas giving a +30% price increase as to current high, this increasing demand also caused price to break out of bearish parallel channel and found some resistance around liquidity pool ranging from @ $21190 - $21344.00 which is also the 61.8% fib level.
inside the bigger bearish channel, price formed a smaller rather bullish parallel channel. i am looking for a retracement to the lower trendline of the bullish channel around areas of liquidity ranging from @ $19800 - $19966.00, awaiting a reacting for a small push before going to my ideal entry point a few pips belows
with ideal entry point at prices around liquidity pool ranging from @ $19078 - $18876 where there is extra confluence of 38.2% fib level taken from $25054.10 to low @ $11551.00 with overall bull targets @ $23k price areas!!
supply and demand
trendlines
liquidity pool
multiple timeframe analysis
put together by: Pako Phutietsile
presented by: @currencynerd
courtesy of: @TradingView
the noble price in economics belongs to Satoshi Nakamoto
the crypto heavyweight showed a lot of downside momentum in 2022, trading in a downtrend for almost the whole year.
In Nov 22 price found support around the $16k price areas giving a +30% price increase as to current high, this increasing demand also caused price to break out of bearish parallel channel and found some resistance around liquidity pool ranging from @ $21190 - $21344.00 which is also the 61.8% fib level.
inside the bigger bearish channel, price formed a smaller rather bullish parallel channel. i am looking for a retracement to the lower trendline of the bullish channel around areas of liquidity ranging from @ $19800 - $19966.00, awaiting a reacting for a small push before going to my ideal entry point a few pips belows
with ideal entry point at prices around liquidity pool ranging from @ $19078 - $18876 where there is extra confluence of 38.2% fib level taken from $25054.10 to low @ $11551.00 with overall bull targets @ $23k price areas!!
supply and demand
trendlines
liquidity pool
multiple timeframe analysis
put together by: Pako Phutietsile
presented by: @currencynerd
courtesy of: @TradingView
the noble price in economics belongs to Satoshi Nakamoto
Trade closed: target reached:
$23k target reached
