BTC at important support, but bearish

업데이트됨

BTC landed on important support. Today we may expect it to bounce back to previously broken SR at ~9200-9300. What happens next depends on how bullish will be that bounce and retracement after it. Looking at bigger picture in case of bearish scenario Bitcoin may easily fall to 8500-8600 and in one more week to 7700 (if 8k won't hold the dump). But if current bounce will give some volume, King may avoid that bearish retracement and stay above 9k. For now trade range stands at 8800 - 9300.

Resistance: 9100 - 9230 - 9400 - 9600
Support: 8900 - 8740 - 8630 - 8540

Yesterday post (see previous reviews): (if) 9200 support break down and price drops to the next support levels at 9100 / 8900 ✅

노트

TC bounce to ~9200-9300 done 👌 Hit 9306. There is still open zone up till ~9450 that also should attract the price. But so far volume ain't coming from bulls, so this may turn out into bear flag and drag price back down to 9055 / 8920 and eventually lower, if none of above supports won't hold. Target for bear flag breakdown - 8500-8600. If that bounce won't give volume, in one more week to ~7630.

22/05 post: Today we may expect it to bounce back to previously broken SR at ~9200-9300 ✅
21/05 post: (if) 9200 support break down and price drops to the next support levels at 9100 / 8900 ✅

Resistance: 9250 - 9444 - 9650
Support: 9055 - 8900 - 8730 - 8630

노트

Finally BTC got to my target I was waiting for since last week. So does it mean the retracement is over? Certainly not, but this level is an important support that may bounce price back to ~9460-9660 this week. Following two days will show how strong is the bounce. Nearest target area above 9k resistance. If price go below 8600 support again, we may expect dump to 8k with lowest wicks down to 7600-7800.

➡️ Trade range 8630 - 9070 ⬅️

Resistance: 9170 - 9055 - 8900 - 9300
Support: 8730 - 8630 - 8100 - 7700

😱 Fear & Greed index: 41 (<= 43 <= 40 <= 42)
👑 BTC Dominance: 65.6% (<= 66 <= 66.1 <= 66.2)
⚙️ 24h Volume: $110 billion (<= 94 <= 120 <= 127)

노트

Same situation as yesterday - BTC bouncing to ~9055-9170 resistance zones. Most probably will pullback from there. If that pullback will give nice volume anywhere above 8700, there is a chance of reversal - in this case higher resistance zones become targets. If drop below 8700, we may expect dump to 8k with wicks down to 7600-7800. Very simple.

➡️ Trade range 8700 - 9060 ⬅️

Resistance: 9055 - 9170 - 9260 - 9480
Support: 8800 - 8630 - 8100 - 7700

노트

Bounce from 8700 support shown some volume. Not that big to call it bullish, but enough to push price back above 8900 towards descending trendline. So here we are at breakout zone, ready to test 9k again or dump. Because this will be the last attempt to re-test ~9050. If get there, it opens gates to ~9160 as well and ~9300 as the top of short term expectations. If drop below 8800 (which is now main support), we may expect dump to 8k with wicks down to 7600-7800.

➡️ Trade range 8800 - 9060 ⬅️

Resistance: 9055 - 9170 - 9260 - 9480
Support: 8800 - 8630 - 8100 - 7700

😱 Fear & Greed index: 39 (<= 39 <= 41 <= 43)
👑 BTC Dominance: 65.5% (<= 65.7 <= 65.6 <= 66)
⚙️ 24h Volume: $92 billion (<= 98 <= 110 <= 94)

노트

Yesterday bullish forecast succeeded. Breakout of 9k took it 9290 👌 In theory BTC price should retest 8900-8970 zone passed on yesterday's pump. Will it happen before test of 9480 resistance or after it, we will know within nearest two days. If pullback before Friday close, pump on weekend. If grow now, dump on weekend.

Last post: So here we are at breakout zone, ready to test 9k again or dump... If get there, it opens gates to ~9160 and ~9300 as the top of short term expectations.

➡️ Trade range 8900 - 9480 ⬅️

Resistance: 9300 - 9480 - 9675 - 9840
Support: 9055 - 8900 - 8700 - 8100

노트

📉 Daily Bitcoin chart review 📈

So BTC pump happened before the weekend. That means Saturday/Sunday most probably will be retracement days. Targets for pullback 9300 - 9150 - 9000. Might see it at 8900, but in general BTC is in uptrend, so dips are for buying, while shorts are risky.

➡️ Trade range 9000 - 9600 ⬅️

Resistance: 9500 - 9675 - 9840 - 9970
Support: 9300 - 9200 - 9055 - 8900

😱 Fear & Greed index: 48 (<= 41 <= 39 <= 39)
👑 BTC Dominance: 66% (<= 66 <= 65.5 <= 65.7)
⚙️ 24h Volume: $117 billion (<= 100 <= 92 <= 98)

노트

Was expecting dump on weekend with nearest pullback target at 9300 - BTC bounced from 9322. After that 4H candle made it back above 9480 SR which put further retracement under question. Still below previous HH at 9630 and I tend to think major bullish moves will happen next week. Till then BTC will stay relatively bullish with solid support at ~9180. Remember - BTC is in uptrend, so dips are for buying, while shorts are risky.

➡️ Trade range 9180 - 9840 ⬅️

Resistance: 9630 - 9675 - 9840 - 9970
Support: 9480 - 9320 - 9180 - 9055

😱 Fear & Greed index: 48 (<= 48 <= 41 <= 39)
👑 BTC Dominance: 65.6% (<= 66 <= 66 <= 65.5)
⚙️ 24h Volume: $104 billion (<= 117 <= 100 <= 92)

노트

📉 Daily Bitcoin chart review 📈

Just as wrote yesterday, while within uptrend, dips are for buying. BTC dumped to 9401 and pumped to 9746. Nice move, but went back below 9600. Now nearest minor support at ~9425. BTC dominance is oversold, so we may expect a bounce, which usually happen during BTC high volatility stages.

But even if there will be even higher volatility, remember it is Sunday, wherever BTC will move today, next week it should come back to CME futures price ~9500.

➡️ Trade range 9200 - 9840 ⬅️

Resistance: 9675 - 9750 - 9840 - 9970
Support: 9480 - 9320 - 9180 - 9055

😱 Fear & Greed index: 51 (<= 48 <= 48 <= 41)
👑 BTC Dominance: 65.2% (<= 65.6 <= 66 <= 66)
⚙️ 24h Volume: $110 billion (<= 104 <= 117 <= 100)

노트

CME opened without any gaps, so no hint here. Chart forms right shoulder of H&S bearish pattern. If price drop to ~9400 again, highly possible we will see it going lower to ~9300. That will be first level of strong support, that can push BTC back up on bullish trend. In general big uptrend won't be broken even if fall down to 9k.

➡️ Trade range 9200 - 9640 ⬅️

Resistance: 9675 - 9750 - 9840 - 9970
Support: 9440 - 9320 - 9180 - 9055

😱 Fear & Greed index: 50 (<= 51 <= 48 <= 48)
👑 BTC Dominance: 65.2% (<= 65.2 <= 65.6 <= 66)
⚙️ 24h Volume: $102 billion (<= 110 <= 104 <= 117)