BTC’s chart needs some time to settle at this important level. Money Man would not like BTC to shoot up without setting some support here. That would leave notable support far below price – a sure sign that there is too much heat in the market. A slow climb to Green Target 1 here would be good for crypto as a whole. Funny thing to say, but a correction would be just as good if not better (with “V-type bottoming”) for setting supports. The distance to Green Targets 2 and 3 illustrates the importance of this.
Do not forget that BTC thrives on uncertainty in the world and there seems to be some resolutions on the cards for burning issues so a correction would fit into that narrative as well. Only problem now is that volume is saying that there is a build-up for a move for formation of a pattern? – Money Man cannot be sure of that.
Conclusion: It would be a good thing to settle down a bit now and the chart indicates that this is possible with a slow climb to 17 200. Very important to me: Please like if you appreciate the effort, please comment and develop this further and Please follow if you see this thread going somewhere you might like to know about.
Do not forget that BTC thrives on uncertainty in the world and there seems to be some resolutions on the cards for burning issues so a correction would fit into that narrative as well. Only problem now is that volume is saying that there is a build-up for a move for formation of a pattern? – Money Man cannot be sure of that.
Conclusion: It would be a good thing to settle down a bit now and the chart indicates that this is possible with a slow climb to 17 200. Very important to me: Please like if you appreciate the effort, please comment and develop this further and Please follow if you see this thread going somewhere you might like to know about.
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My best advice at this moment would be that the purpose of your calculations is for most of them to come to naught and for you not to: work out where you are, and decide what you would like to risk of that. Resistance levels on a micro level would be around 18 100 and the top of the candle (18 500) - if we go through - we could see 19 000 ish in short order. The current 4 hour candle is the most important - the high and low of that would make everybody sit up and trade it. Your calculator will calm you down - use it.
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