BTC: $21000 Current Support Level in Potential Accumulation
Hi Everyone! It looks like we have an Exponential Rally in Phase B of Accumulation. It also looks like $21,000 is our current local support for the Near Term. This is around the White Upper B-Band in the 3-Day time frame. The Red Line in Phoenix Ascending is not ready to fall down from white/aqua level 80 or white level 70. In fact, the Red Line is still above level 100 in the 3-Day. So, I anticipate the price action having fairly strong support < for now > at $21,000.
Could we potentially continue higher? Yes, this too is possible. Where could we potentially go up to if the price action were to continue higher? We are looking at the Yellow B-Band Basis in the 19-Day, 20-Day and 3-Week time frames acting as our "Ceiling of resistance. This is a price range of $25,200 to $26,400. Have a look at the 19-Day, 20-Day and 3-Week time frames in the chart below:
19-Day is bottom left of center. 20-Day is bottom right of center. 3-Week is bottom right corner. The reason I'm saying the Yellow B-Band Basis in those time frames is currently acting as resistance is due to the Red line in those time frames not quite ready to rise up from yellow level 50. Therefore, the yellow b-band basis is acting as resistance for now in those time frames.
Could we potentially continue higher? Yes, this too is possible. Where could we potentially go up to if the price action were to continue higher? We are looking at the Yellow B-Band Basis in the 19-Day, 20-Day and 3-Week time frames acting as our "Ceiling of resistance. This is a price range of $25,200 to $26,400. Have a look at the 19-Day, 20-Day and 3-Week time frames in the chart below:
19-Day is bottom left of center. 20-Day is bottom right of center. 3-Week is bottom right corner. The reason I'm saying the Yellow B-Band Basis in those time frames is currently acting as resistance is due to the Red line in those time frames not quite ready to rise up from yellow level 50. Therefore, the yellow b-band basis is acting as resistance for now in those time frames.
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