Hello, dear subscribers!
As you know, today was a sharp BTC price decrease. The price has not reached the ATH level and began the fall.
The price was in the ascending trend channel and broke down it's support line. The local pivot level was broken almost at the same time.
Lookin at the technical indicators we can see that BTC is in the oversold zone according to RSI, but the MACD indicator is not bullish now. We can conclude, that price will not growth soon. We think that the small consolidation will be, decline continue after that.
As a result we have two possible scenarios:
1) The "Green" scenario is the price drop to tomorrow support level (S1), which is equal to previous base global support level. It is important to observe the price behavior next to this level, because the bounce off it is probable.
2)The "Red" scenario is about the price breakout of the S1 pivot line. It can reach the S2 level and we should observe the price movement here it this case.
The $15600 can be the first possible buy level for BTC.
As you know, today was a sharp BTC price decrease. The price has not reached the ATH level and began the fall.
The price was in the ascending trend channel and broke down it's support line. The local pivot level was broken almost at the same time.
Lookin at the technical indicators we can see that BTC is in the oversold zone according to RSI, but the MACD indicator is not bullish now. We can conclude, that price will not growth soon. We think that the small consolidation will be, decline continue after that.
As a result we have two possible scenarios:
1) The "Green" scenario is the price drop to tomorrow support level (S1), which is equal to previous base global support level. It is important to observe the price behavior next to this level, because the bounce off it is probable.
2)The "Red" scenario is about the price breakout of the S1 pivot line. It can reach the S2 level and we should observe the price movement here it this case.
The $15600 can be the first possible buy level for BTC.
Note
The BTC price decrease is going to be not so sharp as it was expected. The new pivot levels are defined as a new values. The first potential pivot is the $15930. We are going to buy the BTC first time at this point. If the decrease will continue and the price break down this level - the next target is $14700 for the applying a safety order.
Access private PineScript strategies and turn alerts into orders with easy-to-set up bots
Trade smarter with:
skyrexio.com
Trade smarter with:
skyrexio.com
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.
Access private PineScript strategies and turn alerts into orders with easy-to-set up bots
Trade smarter with:
skyrexio.com
Trade smarter with:
skyrexio.com
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.