In this video we take a quick look into the incoming technical resistance levels and their confluence with the orderbook.
Unless the book change shape over next days at the moment everything points we may try the 44-45k range and then get rejected into possibly 37 or more extend at 35k.
where I possible can be wrong:
- rejection is not as strong sicne new orders emerge at 39k forcing price to bounce again
- we smash into 44k range and new strength emerge.
Bulls can come out of now where with 51M market buy into those walls and pierce trough (we also need to assume other exchange have equally strong orders there likewise huge effort is necessary to get trough that. If that happens then 50k target is on the line.
Unless the book change shape over next days at the moment everything points we may try the 44-45k range and then get rejected into possibly 37 or more extend at 35k.
where I possible can be wrong:
- rejection is not as strong sicne new orders emerge at 39k forcing price to bounce again
- we smash into 44k range and new strength emerge.
Bulls can come out of now where with 51M market buy into those walls and pierce trough (we also need to assume other exchange have equally strong orders there likewise huge effort is necessary to get trough that. If that happens then 50k target is on the line.
D7R