BTCUSDT - Areas of Interest and possible plays
BTC never fails to suprise us. BTC has made great gains upwards smashing through $4000 and pushing past $4200 and almost getting to $4300 before being pulled back currently to around $4172.
According to my charts BTC is tracking comfortably between the channel and its business as usual. We have an upper Resistance intersection to crossover at $4360 +- at around 10:30 29-09-17 and also have the lower Support intersection to crossover at around in the next hour or so.
These crossovers are only markers they most likely won't be hit but they are areas and levels of interest.
The Bearish marker if the candle strike through could signal a bearish turn and would result in panic and a dump in BTC to the support below at $3950! There is a second Marker on the lower channel support at $4180 to watch also. Should it crossover and break luckily it will be met by the support level at $4100 which may stave off the bears from eating too much fat from the carcass!
The Bullish Marker if the candles break through this would in my mind signal to traders that it has broken the channel and through a major resistance in price setting up another Bullish rally to new highs ti end the month possibly to $4500+
Those holding, $5000 is inevitable within the next 3 weeks unless we have some bad news!
Market has most definitely shaken off the Chinese fake news with a vengeance. Every blip like that will only make the market more resilient and traders less spooky.
Good Trading everyone :)
According to my charts BTC is tracking comfortably between the channel and its business as usual. We have an upper Resistance intersection to crossover at $4360 +- at around 10:30 29-09-17 and also have the lower Support intersection to crossover at around in the next hour or so.
These crossovers are only markers they most likely won't be hit but they are areas and levels of interest.
The Bearish marker if the candle strike through could signal a bearish turn and would result in panic and a dump in BTC to the support below at $3950! There is a second Marker on the lower channel support at $4180 to watch also. Should it crossover and break luckily it will be met by the support level at $4100 which may stave off the bears from eating too much fat from the carcass!
The Bullish Marker if the candles break through this would in my mind signal to traders that it has broken the channel and through a major resistance in price setting up another Bullish rally to new highs ti end the month possibly to $4500+
Those holding, $5000 is inevitable within the next 3 weeks unless we have some bad news!
Market has most definitely shaken off the Chinese fake news with a vengeance. Every blip like that will only make the market more resilient and traders less spooky.
Good Trading everyone :)
The candle needs to close above $4000 to stop further drops below $4000