BTC Relief RALLY
Thanks for Reading my Post.
I have made some 2 previous post both on AUDNZD and ADAUSD which by now if you are following me those 2 trades have generated some positives return after 2weeks.And if that will be positive for your portfolio I will advise understanding trading psychology, patience and discipline are great TOOLS every trader need to be in the successful rank. Please take note.
To Dive down into the BUSINESS OF THE DAY
I will like to Analyse some current price action in BTCUSD using some Technical Tools:
1. TRENDLINE 2.MOVING AVERAGES 3.CHART PATTERN 4.HARMONICS 5.PREVIOUS MONTHLY WEEKLY DAILY HIGH/LOW 6.ORDER BLOCKS 7.SUPPLY ZONE
Currently the BTC has began a relief rally which may take us to $46000 per BTC and that maybe quite ambitious but before we see such prices from the low of about $33803 we may have some huge hiccups @ $43180/200 area.
I have couple of confluences here ranging from:
1.A BAT HARMONIC PATTERN
2.COUPLE OF PREVIOUS MONTHLY HIGHS
3.SUPPLY ZONE
4.6HR 200EMA
5.ORDERBLOCKS which hasn't been tested since the last sell off around the 20th of JANUARY
6.Previous MONTHLY H/L 43283 and WEEKLY H/L43505
If the above is not enough to be cautious then I will say be prime and ready for this sell off which may take BTC back to retest $39400 area hypothetically and a renew test and hold of this zone may now give us the $46000 area.
The way the market works in trend will also be cemented if we have such a drop to take out the weaker hands buyer who is buying with FOMO and give rise to a renewed buying.
The BEARISH tone is currently subsided having broken the Down trendline as indicated in the chart and retest of the huge zone of $39400 level can be a quick or gradual surprise.Therefore if you are margin trading you can anticipate such move in the meantime. HAPPY TRADING and if you like what you read do not hesitate to give me a comment on your thought and BTC potential is still huge get involve in other ALTCOINS too.
I have made some 2 previous post both on AUDNZD and ADAUSD which by now if you are following me those 2 trades have generated some positives return after 2weeks.And if that will be positive for your portfolio I will advise understanding trading psychology, patience and discipline are great TOOLS every trader need to be in the successful rank. Please take note.
To Dive down into the BUSINESS OF THE DAY
I will like to Analyse some current price action in BTCUSD using some Technical Tools:
1. TRENDLINE 2.MOVING AVERAGES 3.CHART PATTERN 4.HARMONICS 5.PREVIOUS MONTHLY WEEKLY DAILY HIGH/LOW 6.ORDER BLOCKS 7.SUPPLY ZONE
Currently the BTC has began a relief rally which may take us to $46000 per BTC and that maybe quite ambitious but before we see such prices from the low of about $33803 we may have some huge hiccups @ $43180/200 area.
I have couple of confluences here ranging from:
1.A BAT HARMONIC PATTERN
2.COUPLE OF PREVIOUS MONTHLY HIGHS
3.SUPPLY ZONE
4.6HR 200EMA
5.ORDERBLOCKS which hasn't been tested since the last sell off around the 20th of JANUARY
6.Previous MONTHLY H/L 43283 and WEEKLY H/L43505
If the above is not enough to be cautious then I will say be prime and ready for this sell off which may take BTC back to retest $39400 area hypothetically and a renew test and hold of this zone may now give us the $46000 area.
The way the market works in trend will also be cemented if we have such a drop to take out the weaker hands buyer who is buying with FOMO and give rise to a renewed buying.
The BEARISH tone is currently subsided having broken the Down trendline as indicated in the chart and retest of the huge zone of $39400 level can be a quick or gradual surprise.Therefore if you are margin trading you can anticipate such move in the meantime. HAPPY TRADING and if you like what you read do not hesitate to give me a comment on your thought and BTC potential is still huge get involve in other ALTCOINS too.
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