This yellow area will determine the upcoming future of BTC!
First of all i would like to say that i heard from many people getting anxious and nervous because they have heavy loses and wait for BTC to reach the 18,000-20,000 level again. DONT SELL this will happen sooner than you expect .
For the people like me who are looking for their next move the answer is this little yellow area on my analysis.
-If BTC manages to break the downtrend line (red) then i would expect more upward movement right into the green area ( i will talk about the importance of this area in a bit).
-If BTC breaks the uptrend line (green) then i would expect it to crash till the 9000 or 7500 support zone( you guys with the big loses DONT SELL it will come back )
Now whats the meaning of the green area?
This area is very important for those who want new BTC highs.If you noticed on my analysis there is a second downtrend line(red) . BTC has to break this line too so that we will have confirmed further upward movement into the resistance zones and then to new highs ( sorry i am rushing :) ). When BTC will be on this green area it will be still risky if it breaks the uptrend line (green).
The MACD indicator shows me that we may have some more downward movemnt but the RSI indicator shows me that BTC is playing close to oversold zone . So i will wait to see what will happen with the yellow zone and then decide if i will take position or short it .
Dont consider this analysis as a recommendation .
For the people like me who are looking for their next move the answer is this little yellow area on my analysis.
-If BTC manages to break the downtrend line (red) then i would expect more upward movement right into the green area ( i will talk about the importance of this area in a bit).
-If BTC breaks the uptrend line (green) then i would expect it to crash till the 9000 or 7500 support zone( you guys with the big loses DONT SELL it will come back )
Now whats the meaning of the green area?
This area is very important for those who want new BTC highs.If you noticed on my analysis there is a second downtrend line(red) . BTC has to break this line too so that we will have confirmed further upward movement into the resistance zones and then to new highs ( sorry i am rushing :) ). When BTC will be on this green area it will be still risky if it breaks the uptrend line (green).
The MACD indicator shows me that we may have some more downward movemnt but the RSI indicator shows me that BTC is playing close to oversold zone . So i will wait to see what will happen with the yellow zone and then decide if i will take position or short it .
Dont consider this analysis as a recommendation .
I wish profitable trades to everyone.