BitcoinLong
BTC-Scouting for daily highler low
Hey there,
trend, outlook and mindset are still the same and have not
changed since my latest posts. Bulls still prove to us that they maintain
controll on the broader time frames and buy any dips.
Currently it seems like Bitcoin wants to scout for its next daily highler low,
and is on the verge of breaking 4h support.
If this consodilidation/correction continues over the next days, we could see
the low coming in between 8900USD and 9200USD.
Either BTC wants to retest its 200D EMAat 8900 or prior support at around 9200.
ETH just retested its 200D EMA, so maybe other cryptos will follow.
Resistance to the upside is marked with the white horizontal lines on the chart.
Included are prior important areas of resistance, coinciding with the last
swing high on the daily chart is also a setup trendline of the TI indicator.
If a new sing high is created, then only the monthly
timeframe has to prove bullishness. After that, its off the races.
I am currently scaling into positions on this small correction and have orders set,
if we fall lower to 9000. This current bull move seems strong and is not as weakly
structured as previous ralleys were, so I feel way more confident in buying the dips.
Guess I am not the only one thinking this way.
For further information check out my YouTube channel: Enlightened Trading
Or follow me on instagram/twitter.
Any links you will find below my YouTube videos.
Cheers,
Konrad
trend, outlook and mindset are still the same and have not
changed since my latest posts. Bulls still prove to us that they maintain
controll on the broader time frames and buy any dips.
Currently it seems like Bitcoin wants to scout for its next daily highler low,
and is on the verge of breaking 4h support.
If this consodilidation/correction continues over the next days, we could see
the low coming in between 8900USD and 9200USD.
Either BTC wants to retest its 200D EMAat 8900 or prior support at around 9200.
ETH just retested its 200D EMA, so maybe other cryptos will follow.
Resistance to the upside is marked with the white horizontal lines on the chart.
Included are prior important areas of resistance, coinciding with the last
swing high on the daily chart is also a setup trendline of the TI indicator.
If a new sing high is created, then only the monthly
timeframe has to prove bullishness. After that, its off the races.
I am currently scaling into positions on this small correction and have orders set,
if we fall lower to 9000. This current bull move seems strong and is not as weakly
structured as previous ralleys were, so I feel way more confident in buying the dips.
Guess I am not the only one thinking this way.
For further information check out my YouTube channel: Enlightened Trading
Or follow me on instagram/twitter.
Any links you will find below my YouTube videos.
Cheers,
Konrad
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