Please refer to our previous post:
After identifying our first target right around $120.4k we are seeing the first signs of a cooloff. Until we get a daily candle close above this level price is likely to flush some leverage. The main move to $140k area is still likely to happen, but if we see a retracement in the short term here are the LTF levels to watch.
Support level #1 has been established with most of the candle bodies around $116.8k. If we lose that level then price is likely to test our previous ATH.
Support level #2 would be a test of our previous ATH around $112k or our teal trendline that connects the wick tops.
The final support level would be our macro old ATH right around $108-$110k. There is also a trendline there (which depending on what time it could be tested) would also be right in line with those price targets.
After identifying our first target right around $120.4k we are seeing the first signs of a cooloff. Until we get a daily candle close above this level price is likely to flush some leverage. The main move to $140k area is still likely to happen, but if we see a retracement in the short term here are the LTF levels to watch.
Support level #1 has been established with most of the candle bodies around $116.8k. If we lose that level then price is likely to test our previous ATH.
Support level #2 would be a test of our previous ATH around $112k or our teal trendline that connects the wick tops.
The final support level would be our macro old ATH right around $108-$110k. There is also a trendline there (which depending on what time it could be tested) would also be right in line with those price targets.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.