My Support and Resistance zones looking at BTC/USD on the 3H TF
I am thinking that price action has put in its local top and is now ranging
my expectation is for either sideways ranging price action which would then be a time correction
or a bearish pullback reversion to the mean that would result in a huge red wick
//----
My short term down side target would be $33.45k or 32.86k
My short term up side target would be $34.39k
I would buy the dip if price action came back down to 32.08k or lower !
//----
I believe that while BTC remains inside this side ways price channel we will continue to range between the upper and lower limits of the channel or zones
I also believe that this could be a time correction so long as price action remains inside of the range
If that bullish narrative plays out then the break out would be a continuation of the macro bullish trend and my macro bullish break out target would be $49-50k
how ever my bearish break down reversion to the mean target would be if $24k does not hold we could then fall to $21k or even 19k
I am using the 8 and 9 day time frames for my price targets
//----
This publication is Not financial advice nor is it intended to provide trading signals
I suggest you invest or take trading positions in a way that still allows you to sleep soundly at night :)
Sideways price action is bullish price action
BTC: Hard money , Truth money , Sovereign money , Scarce money , Peaceful money ,
My intention for this publication is to publish and then review my ability to find key support and resistance levels of price action
//----
my expectation is for either sideways ranging price action which would then be a time correction
or a bearish pullback reversion to the mean that would result in a huge red wick
//----
My short term down side target would be $33.45k or 32.86k
My short term up side target would be $34.39k
I would buy the dip if price action came back down to 32.08k or lower !
//----
I believe that while BTC remains inside this side ways price channel we will continue to range between the upper and lower limits of the channel or zones
I also believe that this could be a time correction so long as price action remains inside of the range
If that bullish narrative plays out then the break out would be a continuation of the macro bullish trend and my macro bullish break out target would be $49-50k
how ever my bearish break down reversion to the mean target would be if $24k does not hold we could then fall to $21k or even 19k
I am using the 8 and 9 day time frames for my price targets
//----
This publication is Not financial advice nor is it intended to provide trading signals
I suggest you invest or take trading positions in a way that still allows you to sleep soundly at night :)
Sideways price action is bullish price action
BTC: Hard money , Truth money , Sovereign money , Scarce money , Peaceful money ,
My intention for this publication is to publish and then review my ability to find key support and resistance levels of price action
//----
Went straight up