Hello Traders,
Today's chart will be an update on BTC's recent developments,
Points to consider,
- Consolidation phase with an equilibrium
- Major support is around the green zone
- Major resistance is around the red zone
- EMA's acting as resistance to price
- RSI Support line is being tested
- Stochs neutral
- Volume declining
- Fear and Greed index is at 33% (extreme fear)
BTC at given time is consolidating but price is coming into an apex where a big move is expected...
Strong ceiling for price as EMA's is in confluence with the resistant area (Red Zone). If price breaks this resistance, then we will have a macro higher high in the trend,this is quite bullish, however, if price breaks key support zone, then BTC is in for a major correction!...
what are your thoughts?
Will BTC Break this resistance or will it tank through support?
Please leave a like and comment :)
and remember
"Don’t worry about what the markets are going to do, worry about what you are going to do in response to the markets." - Michael Carr
Today's chart will be an update on BTC's recent developments,
Points to consider,
- Consolidation phase with an equilibrium
- Major support is around the green zone
- Major resistance is around the red zone
- EMA's acting as resistance to price
- RSI Support line is being tested
- Stochs neutral
- Volume declining
- Fear and Greed index is at 33% (extreme fear)
BTC at given time is consolidating but price is coming into an apex where a big move is expected...
Strong ceiling for price as EMA's is in confluence with the resistant area (Red Zone). If price breaks this resistance, then we will have a macro higher high in the trend,this is quite bullish, however, if price breaks key support zone, then BTC is in for a major correction!...
what are your thoughts?
Will BTC Break this resistance or will it tank through support?
Please leave a like and comment :)
and remember
"Don’t worry about what the markets are going to do, worry about what you are going to do in response to the markets." - Michael Carr