BTCUSD: $50,000 is FIRM RESISTANCE for Quite a While; Explained
Hi Everyone! Our Red RSI and Blue LSMA in the 30-min. 60-min. and 90-min. are acting like they may potentially continue to zig-zag (straddle) Level 50 a while or potentially fall below Level 50 at present. To get an idea what is to be the case with the Red RSI and Blue LSMA in the previously mentioned time frames is to occasionally have a look at your Immediate Group of time frames to check the "progress" of the 8-min. and 16-min. Red RSI and Blue LSMA to see if they are above Level 50 or Below Level 50; as mentioned in the video.
I pointed out in the video HOW and WHY $50,000 is pretty much FIRM resistance for quite a while until we can dig ourselves out of the White Lower Levels of the Phoenix Indicator in the 2-Day, 3-Day and 4-Day time frames to have a "chance" of going UP higher and attempting to breakout above the current $50,000 ceiling.
I hope this analysis was helpful. Please take a moment to click "like." Your "likes" really help out to moving this publication UP in the cue for others to have a chance of seeing what may potentially occur for the Immediate, Short and Near Term Group of Time Frames.
Happy Trading and Stay Awesome!
David
I pointed out in the video HOW and WHY $50,000 is pretty much FIRM resistance for quite a while until we can dig ourselves out of the White Lower Levels of the Phoenix Indicator in the 2-Day, 3-Day and 4-Day time frames to have a "chance" of going UP higher and attempting to breakout above the current $50,000 ceiling.
I hope this analysis was helpful. Please take a moment to click "like." Your "likes" really help out to moving this publication UP in the cue for others to have a chance of seeing what may potentially occur for the Immediate, Short and Near Term Group of Time Frames.
Happy Trading and Stay Awesome!
David
BTCUSD: December 19, 2021; Current Price Action Expounded