Dear friends,
It's an exclusive forecast for the members of tradunity.com
In connection with the latest movements in Bitcoin, I see the point in updating my global scenario.
In general, the story develops precisely as I said on October 27, the day after the last crazy jump.
The bullish impulse of October 25-26 was too manipulative and quick, and the basis for it was in the form of a com. The parties of China are too far-fetched.
The crowd did not believe in such growth and did not drag the market up, on the contrary, many took the opportunity and recorded Bitcoin at a price in the region of 10,000 USD.
However, the big player openly showed his interest in the growth of Bitcoin.
Even then, it was evident that organic growth would not work without a bearish correction.
To predict the future movement, I built projections of next candles according to Thomas DeMark.
In the chart above, you see a large green rectangle - this is a monthly candle and the other, smaller, this is a weekly candle.
The purple lines are Thomas DeMarck tolerance levels.
The green square itself reflects the approximate trading range for the future candle, and the lines of tolerance indicate the nature of the movement.
I talked about these indicators in my articles on Light Forex, earlier.
Also, I spoke about such a sign as TD REBO, thanks to which it is convenient to calculate resistance and support levels.
The chart above shows two levels of TD REBO in the form of red lines. One weekly, another monthly.
Usually, if the price crossed the first level of TD REBO, then with a high degree of probability, it will pass the second.
When crossing the second weekly level TD REBO, the price will cross the lower level of TD tolerance for the monthly TF, which will open the gate for moving to the lower border of the projection of the monthly candle.
Therefore, the lower support level is at 8250 USD.
Since the region of 8000 - 8200 is a powerful trading channel, which is confirmed by the control point of the frontal volume indicator, it is highly likely that we can talk about consolidation in this area and the price returning to the upper border of the monthly candle projection.
That is, the monthly scenario will repeat what we saw this week, only in a mirror form.
That means, at the end of November, we really can see Bitcoin by 11 200 USD.
Good luck to everyone and good profits!
Regards,
Michael @Hypov
It's an exclusive forecast for the members of tradunity.com
In connection with the latest movements in Bitcoin, I see the point in updating my global scenario.
In general, the story develops precisely as I said on October 27, the day after the last crazy jump.
The bullish impulse of October 25-26 was too manipulative and quick, and the basis for it was in the form of a com. The parties of China are too far-fetched.
The crowd did not believe in such growth and did not drag the market up, on the contrary, many took the opportunity and recorded Bitcoin at a price in the region of 10,000 USD.
However, the big player openly showed his interest in the growth of Bitcoin.
Even then, it was evident that organic growth would not work without a bearish correction.
To predict the future movement, I built projections of next candles according to Thomas DeMark.
In the chart above, you see a large green rectangle - this is a monthly candle and the other, smaller, this is a weekly candle.
The purple lines are Thomas DeMarck tolerance levels.
The green square itself reflects the approximate trading range for the future candle, and the lines of tolerance indicate the nature of the movement.
I talked about these indicators in my articles on Light Forex, earlier.
The chart above shows two levels of TD REBO in the form of red lines. One weekly, another monthly.
Usually, if the price crossed the first level of TD REBO, then with a high degree of probability, it will pass the second.
When crossing the second weekly level TD REBO, the price will cross the lower level of TD tolerance for the monthly TF, which will open the gate for moving to the lower border of the projection of the monthly candle.
Therefore, the lower support level is at 8250 USD.
That is, the monthly scenario will repeat what we saw this week, only in a mirror form.
Good luck to everyone and good profits!
Regards,
Michael @Hypov
About Me and My life
ovalapp.bio/michael
ovalapp.bio/michael
