BTC tightening range
Hey guys, BTC is in a tightening range right now in the 4H with 6200 as resistance & 6039 (if you count the wick, 5984 as support). A break here will come sooner than later, and will esp. have a big effect on the other Alt coins, most of which like LTC, EOS, IOTA, have much clearer equilibriums.
A bear break would lead to at least the Daily lows at 5750. If those don't hold, next support is at around 5400, before we reach the 5000 psychological, which has huge support.
A bull break would lead to at least the recent highs at 6341.
=> Since we're in a bearish trend, the break of equilibriums always favors the bears, than it does the bulls. But you still have to wait for a clear break, esp. with those long wicks & fake-outs. So always be more conservative, miss a few percent rather than getting faked out. Set your orders accordingly, and never forget your stop loss. I wish you good luck trading! ;)
If you find my analysis helpful, please like & subscribe, and watch my daily videos, I will be talking about the equilibrium today! ;) (description is in my status)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
A bear break would lead to at least the Daily lows at 5750. If those don't hold, next support is at around 5400, before we reach the 5000 psychological, which has huge support.
A bull break would lead to at least the recent highs at 6341.
=> Since we're in a bearish trend, the break of equilibriums always favors the bears, than it does the bulls. But you still have to wait for a clear break, esp. with those long wicks & fake-outs. So always be more conservative, miss a few percent rather than getting faked out. Set your orders accordingly, and never forget your stop loss. I wish you good luck trading! ;)
If you find my analysis helpful, please like & subscribe, and watch my daily videos, I will be talking about the equilibrium today! ;) (description is in my status)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
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