BTC BTCUSDT ATH is on the way After correction Ends
The market took a deep dive since the start of the week, despite the heavy correction BTC is still holding to the ground and Support levels still intact.
If The last support level fails to hold the price it's a freefall for BTC and the whole Market.
But since this level is too strong and no indicators are shown to prove the idea of a support penetration we will go Long depending on historical review.
>>>>
BTC holding areas: First 52K-48K .... Second: 48K-44K If it fails we are doomed ( but till now no signs of a trend break)
Target: Reaching New ATH ( 70K )
Average period: 1 Month
Average Rise %: 45%
....
We will update When Conditions are met and close when Support fails to hold the price.
This is not a thought it's an Analysis based idea. And forecasting, either way, is based on obvious conditions.
If The last support level fails to hold the price it's a freefall for BTC and the whole Market.
But since this level is too strong and no indicators are shown to prove the idea of a support penetration we will go Long depending on historical review.
>>>>
BTC holding areas: First 52K-48K .... Second: 48K-44K If it fails we are doomed ( but till now no signs of a trend break)
Target: Reaching New ATH ( 70K )
Average period: 1 Month
Average Rise %: 45%
....
We will update When Conditions are met and close when Support fails to hold the price.
This is not a thought it's an Analysis based idea. And forecasting, either way, is based on obvious conditions.
Trade active:
First Actual Breach for the first Support level, Currently testing the strength.
It could go many ways... 1- a quick rebound from the first Support levels.
2- A long time test for the first level that may take From 3-6 days.
3- A continuation for the fall to the second level which is gonna help rebound the price fast.
4- Penetration for the two levels where it will lead to a major disaster.
............
My opinion: The first level is the strongest and we might take 3-5 days to start the recovery Run.
It could go many ways... 1- a quick rebound from the first Support levels.
2- A long time test for the first level that may take From 3-6 days.
3- A continuation for the fall to the second level which is gonna help rebound the price fast.
4- Penetration for the two levels where it will lead to a major disaster.
............
My opinion: The first level is the strongest and we might take 3-5 days to start the recovery Run.
Trade active:
i guess after that long run we have to change the target.
Waiting for a new target and a new ATH of 88K .
Waiting for a new target and a new ATH of 88K .
Trade closed manually:
position sold at 66k 10th of November 2021