This idea is a few days old.
Bitcoin was consolidating found strong support around $29xxx. BB pinch, buy volume started flooding. We broke out of the triangle, and we reclaimed some crucial resistance levels that have flipped support. We face a struggle as resistance rejects a couple of times. Buy volume is slowing, and I am paying attention to the MACD for across (blue highlight) to support my temporary downtrend theory. Im, also aware of the BB%B, which suggests a possible change in trend (check blue highlights) as the BB has significantly widened but can continue to expand. (BB widening associates a big move up or down) I am Switching time frames as we progress better to understand potential scenarios for scalps/day trades. I expect a backtest near $42xxx (check support); however, a break below support can send us downwards as low $34xxx before finding relief.
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I hope you receive all the riches in Valhalla.
Best wishes,
HONEYITSGONE!
Bitcoin was consolidating found strong support around $29xxx. BB pinch, buy volume started flooding. We broke out of the triangle, and we reclaimed some crucial resistance levels that have flipped support. We face a struggle as resistance rejects a couple of times. Buy volume is slowing, and I am paying attention to the MACD for across (blue highlight) to support my temporary downtrend theory. Im, also aware of the BB%B, which suggests a possible change in trend (check blue highlights) as the BB has significantly widened but can continue to expand. (BB widening associates a big move up or down) I am Switching time frames as we progress better to understand potential scenarios for scalps/day trades. I expect a backtest near $42xxx (check support); however, a break below support can send us downwards as low $34xxx before finding relief.
Follow and like if you find this helpful.
I hope you receive all the riches in Valhalla.
Best wishes,
HONEYITSGONE!
