Pre halvening breakout resistance and supports
As we are approaching the halvening, the lowering of corona lockdowns around the world and another FOMC meeting today, we can see some movements in the Crypto markets, while traditional indices are still calm. Bitcoin and Ethereum going moon
The bullish case:
We now have a nice breakout above the 0.618 Fibonacci retracement and this 'moving average cluster' (100, 200 MA & 200 EMA) on the daily interval.
If we close the day above we may see another pump and i see a strong resistance around 9200, where we have the 0.786 Fibonnacci, the Weekly R3 & the Monthly R1 Pivot point close together.
The bearish case:
If we watch the TD sequencial we can see some uptrends from the recent low ending in a pumping green 7 and going flat until the 9. Now we are at a pumping green 7 again so we maybe going flat here again. If we correct here the support levels to watch are 7450 at the weekly pivot, 7090 at weekly S1 and than we have a strong support cluster around 6250 to 6440 with the 0.382 Fib, weekly S2 and Monthly Pivot point.The most extreme case i would see around 5250 with the 0.236 Fibonacci retracement level .
What do you guys think?
Good luck & Have fun
The bullish case:
We now have a nice breakout above the 0.618 Fibonacci retracement and this 'moving average cluster' (100, 200 MA & 200 EMA) on the daily interval.
If we close the day above we may see another pump and i see a strong resistance around 9200, where we have the 0.786 Fibonnacci, the Weekly R3 & the Monthly R1 Pivot point close together.
The bearish case:
If we watch the TD sequencial we can see some uptrends from the recent low ending in a pumping green 7 and going flat until the 9. Now we are at a pumping green 7 again so we maybe going flat here again. If we correct here the support levels to watch are 7450 at the weekly pivot, 7090 at weekly S1 and than we have a strong support cluster around 6250 to 6440 with the 0.382 Fib, weekly S2 and Monthly Pivot point.The most extreme case i would see around 5250 with the 0.236 Fibonacci retracement level .
What do you guys think?
Good luck & Have fun
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