BITCOIN TO SEE GREAT UPS AND DOWNS! 20/09/19
XBT INTRA-DAY BREAKDOWN - 20/09/19
WHAT HAS OCCURRED SINCE OUR LAST XBT (BITMEX) INTRA-DAY BREAKDOWN ?
UPDATES ON OUR TELEGRAM CHANNEL
- It was stated on our telegram channel that XBT would see a rejection from the 10487-10522$ price level as this has been a marked supply zone on our charts for a while now. This rejection would lead to price falling to 10,080$ and a break of this final support would be a strong confirmation for a short to 9600$, if you had not already shorted from rejection at the ceiling of 10487$!
- Thereafter, we advised members of our telegram channel to close shorts at 9600$ and for anyone who was looking to open new shorts to not short just yet. Why ? We foretold that price would be rising to 9,900$ again almost instantly.
REVIEW :
- Once again, everything stated on our telegram channel was to the point and now we will review this trading pair to see what could be the next move!
We will do the top down style analysis that you should have become accustomed to by now to look at possible price direction.
WHAT CAN BE SEEN ON THE DAILY CHART FOR XBT ?
- On the daily chart looking at our price chart, the first thing to note is that we have a wedge creating lower highs and higher lows since June. This ascending support trend line is now showing that final barriers of support for XBT has risen from 9018$ and now stands at 9604$. This final support level of 9604$ is an important psychological demand level for the bulls and a break of this level will indicate a flash crash to 9018$ and even more so to 8,800$ and 8249$ respectively for XBT - this is further supported by the fact that EMA support is currently being shown at 8,800$. We can also see the descending resistance trend line on XBT indicating that average resistance zones for XBT currently lay at 10487$ to 10522$. The maximum price which price can go up to with the bears still retaining power is 10750$ and this is the next major supply zone following a break of 10487-10522$ major supply zone (but it is important to note that it will take a lot for this resistance zone , which has held up very well to be broken). We cannot rule out this zone being broken on the XBT pair because of the fact that the Bitmex derivative’s platform is highly manipulated and we may see shorts getting rekt up to the 10750$ price level before a descend to our downward targets takes place.
WHAT CAN WE SEE ON THE 4 HOURLY CHART FOR XBT ?
- Looking at our price chart on the 4 hourly with candlestick formations, we can see that following support being found in line with the ascending trend line support at 9604$, we then went on to test the supply zone/resistance level of 10487$ and saw a direct rejection from this level down to 10,080$ and at this level we had found support once again. Currently EMA resistance lays at just below 10,300$ and this is the greatest obstacle for the bulls to overcome other than the 10487$-10522$ sell wall.
WHAT CAN WE SEE ON THE 1 HOURLY CHARTS FOR XBT ?
- On the hourly candlestick chart, we can see that EMA resistance is currently at 10200$ and we have seen a rejection from this level on the hourly already. Now, this goes hand in hand with our previous analysis on the 4 hourly anticipating that we will see bearish price action to 10,080$ before a bull move to 10300$ at the minimum and thereafter, a break of this level to 10487-10522$ before bearish price action resumes.
TO CONCLUDE:
1. Expect a rejection to 10,080$, whereby I anticipate that support will be found.
2. Thereafter, bullish price action will take charge once again to 10300$ to meet EMA resistance.
3. A break of 10,300$ will indicate that we are heading towards major supply/resistance zone of 10487-10522$.
4. Thereafter, I anticipate the bears to take back charge at this level, but as we know Bitmex manipulation is real as it gets, so do not be quick to pull the short trigger at this level as we may see bullish price action continue to wick to 10750$ to meet descending trend line resistance.
5. Once the rejection occurs, thereafter, the safest of you should wait for confirmation fo 10,080$ being broken before shorting to 9600$.
6. A break of FINAL SUPPORT at 9600$ will indicate bearish activity to 9018$ and 8,800$ respectively!
ENJOY AND I SHALL GIVE REALTIME ENTRY CALLS THROUGH THE WHOLE JOURNEY!
** PLEASE NOTE THAT THIS ANALYSIS IS IN A REDACTED FORM, AND FULL FORM FOR EDUCATIONAL PURPOSES CAN ONLY BE SEEN BY PAYING PRIORITY MEMBERS **
PLEASE SEE RELATED IDEAS DOWN BELOW ;) & don't forget to stay up to date with our calls by following our Instagram and telegram channels down below AND ON OUR TRADINGVIEW PAGE - CALL AFTER CALL CORRECT!
WHAT HAS OCCURRED SINCE OUR LAST XBT (BITMEX) INTRA-DAY BREAKDOWN ?
UPDATES ON OUR TELEGRAM CHANNEL
- It was stated on our telegram channel that XBT would see a rejection from the 10487-10522$ price level as this has been a marked supply zone on our charts for a while now. This rejection would lead to price falling to 10,080$ and a break of this final support would be a strong confirmation for a short to 9600$, if you had not already shorted from rejection at the ceiling of 10487$!
- Thereafter, we advised members of our telegram channel to close shorts at 9600$ and for anyone who was looking to open new shorts to not short just yet. Why ? We foretold that price would be rising to 9,900$ again almost instantly.
REVIEW :
- Once again, everything stated on our telegram channel was to the point and now we will review this trading pair to see what could be the next move!
We will do the top down style analysis that you should have become accustomed to by now to look at possible price direction.
WHAT CAN BE SEEN ON THE DAILY CHART FOR XBT ?
- On the daily chart looking at our price chart, the first thing to note is that we have a wedge creating lower highs and higher lows since June. This ascending support trend line is now showing that final barriers of support for XBT has risen from 9018$ and now stands at 9604$. This final support level of 9604$ is an important psychological demand level for the bulls and a break of this level will indicate a flash crash to 9018$ and even more so to 8,800$ and 8249$ respectively for XBT - this is further supported by the fact that EMA support is currently being shown at 8,800$. We can also see the descending resistance trend line on XBT indicating that average resistance zones for XBT currently lay at 10487$ to 10522$. The maximum price which price can go up to with the bears still retaining power is 10750$ and this is the next major supply zone following a break of 10487-10522$ major supply zone (but it is important to note that it will take a lot for this resistance zone , which has held up very well to be broken). We cannot rule out this zone being broken on the XBT pair because of the fact that the Bitmex derivative’s platform is highly manipulated and we may see shorts getting rekt up to the 10750$ price level before a descend to our downward targets takes place.
WHAT CAN WE SEE ON THE 4 HOURLY CHART FOR XBT ?
- Looking at our price chart on the 4 hourly with candlestick formations, we can see that following support being found in line with the ascending trend line support at 9604$, we then went on to test the supply zone/resistance level of 10487$ and saw a direct rejection from this level down to 10,080$ and at this level we had found support once again. Currently EMA resistance lays at just below 10,300$ and this is the greatest obstacle for the bulls to overcome other than the 10487$-10522$ sell wall.
WHAT CAN WE SEE ON THE 1 HOURLY CHARTS FOR XBT ?
- On the hourly candlestick chart, we can see that EMA resistance is currently at 10200$ and we have seen a rejection from this level on the hourly already. Now, this goes hand in hand with our previous analysis on the 4 hourly anticipating that we will see bearish price action to 10,080$ before a bull move to 10300$ at the minimum and thereafter, a break of this level to 10487-10522$ before bearish price action resumes.
TO CONCLUDE:
1. Expect a rejection to 10,080$, whereby I anticipate that support will be found.
2. Thereafter, bullish price action will take charge once again to 10300$ to meet EMA resistance.
3. A break of 10,300$ will indicate that we are heading towards major supply/resistance zone of 10487-10522$.
4. Thereafter, I anticipate the bears to take back charge at this level, but as we know Bitmex manipulation is real as it gets, so do not be quick to pull the short trigger at this level as we may see bullish price action continue to wick to 10750$ to meet descending trend line resistance.
5. Once the rejection occurs, thereafter, the safest of you should wait for confirmation fo 10,080$ being broken before shorting to 9600$.
6. A break of FINAL SUPPORT at 9600$ will indicate bearish activity to 9018$ and 8,800$ respectively!
ENJOY AND I SHALL GIVE REALTIME ENTRY CALLS THROUGH THE WHOLE JOURNEY!
** PLEASE NOTE THAT THIS ANALYSIS IS IN A REDACTED FORM, AND FULL FORM FOR EDUCATIONAL PURPOSES CAN ONLY BE SEEN BY PAYING PRIORITY MEMBERS **
PLEASE SEE RELATED IDEAS DOWN BELOW ;) & don't forget to stay up to date with our calls by following our Instagram and telegram channels down below AND ON OUR TRADINGVIEW PAGE - CALL AFTER CALL CORRECT!
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