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.
Follow and like if you find this helpful.
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!
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