BTCUSDT. Monitoring the seller's actions.
Hello traders and investors!
It's time to update the forecast. During the last review (23/03/2024), we observed a short vector 7-8 within the sideways movement on the daily timeframe. The target of the long vector 8-9 was 72419 (see the chart from the previous review). Currently, the long vector 8-9 has reached this target.
It is advisable to look for sales at the upper boundary of the sideways movement. However, for short positions, the first threat is the buyer zone (blue color) with the upper boundary at 69674, which formed on the daily timeframe. And the seller has not yet shown itself on the hourly timeframe - the price at 17 hours is near the level of 72419.
There is a high probability that the buyer will reach the upper boundary of the sideways movement at 73777. I am waiting for a reinteraction of the price with the level of 72419.
For a more detailed explanation of how to read charts and consider different timeframes when looking for trades, you can refer to the article
It's time to update the forecast. During the last review (23/03/2024), we observed a short vector 7-8 within the sideways movement on the daily timeframe. The target of the long vector 8-9 was 72419 (see the chart from the previous review). Currently, the long vector 8-9 has reached this target.
It is advisable to look for sales at the upper boundary of the sideways movement. However, for short positions, the first threat is the buyer zone (blue color) with the upper boundary at 69674, which formed on the daily timeframe. And the seller has not yet shown itself on the hourly timeframe - the price at 17 hours is near the level of 72419.
There is a high probability that the buyer will reach the upper boundary of the sideways movement at 73777. I am waiting for a reinteraction of the price with the level of 72419.
For a more detailed explanation of how to read charts and consider different timeframes when looking for trades, you can refer to the article
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Good luck with your trading!
