BTCUSDT 16-07-2021
#bitcoin
Since the rejection of the 36.5k price is in a downtrend in a descending channel. As I mentioned in my last update respect 30.9K we should be fine, so far we have a nice reaction from that zone with strong bounce. However, we still have a couple of resistance zone that needs to be broken + weekend ahead.
LONG-TERM we are fine!!
I would expect these levels to be tested.
$32800
$33300
34k -34500 Weekly Resistance
Support:
30900 HOLD!!!
The next obvious supports below there are:
- The June 26 low of 30151
- June 22 low of 28805.
- And one last support 27.7
- Daily Stoch RSI at the bottom
- TD indicator printed #BUY since 2018 drop this indicator printed a buy total 3 times and all 3 had at least 20% pump after (Plue DOT on the chart)
- Daily Bull Divergence still intact
A daily close below 30k invalidate our bullish setup
DAILY RSI:
Bitcoin daily RSI resistance trendline still not broken. Break of this trendline expects firework. Until then be patient. I know how bad it looks at the moment and the propaganda from mainstream media not helping either try to scare the retailers. At some point, it is gonna raid all those highs in a matter of a week or two and before u know it we are above 50K
Remember what happen for the past 7 week's dump during the week and always manage to close 33k+ on Sunday. Willl this Sunday be any different?
Since the rejection of the 36.5k price is in a downtrend in a descending channel. As I mentioned in my last update respect 30.9K we should be fine, so far we have a nice reaction from that zone with strong bounce. However, we still have a couple of resistance zone that needs to be broken + weekend ahead.
LONG-TERM we are fine!!
I would expect these levels to be tested.
$32800
$33300
34k -34500 Weekly Resistance
Support:
30900 HOLD!!!
The next obvious supports below there are:
- The June 26 low of 30151
- June 22 low of 28805.
- And one last support 27.7
- Daily Stoch RSI at the bottom
- TD indicator printed #BUY since 2018 drop this indicator printed a buy total 3 times and all 3 had at least 20% pump after (Plue DOT on the chart)
- Daily Bull Divergence still intact
A daily close below 30k invalidate our bullish setup
DAILY RSI:
Bitcoin daily RSI resistance trendline still not broken. Break of this trendline expects firework. Until then be patient. I know how bad it looks at the moment and the propaganda from mainstream media not helping either try to scare the retailers. At some point, it is gonna raid all those highs in a matter of a week or two and before u know it we are above 50K
Remember what happen for the past 7 week's dump during the week and always manage to close 33k+ on Sunday. Willl this Sunday be any different?
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