Hello Crypto people. I like to keep it short and simple and briefly explain the technical reasons.
Dark Yellow Uptrend Line
The dark yellow uptrend line is giving BTC a good support level in the 4 hour chart. By taking a look in the Stoch Indicator we can predict that there is a possibility that the candles touch the uptrend line.
Triangle Upper Red Line
With this line we can predict that the candles could move towards this line. Whether this line becomes the support or the resistance that is something that I don’t know yet. We will have to see The volume behavior when we get close to the upper red line. However I don’t discard the possibility that we oscillate towards this line within the next 2 days.
Conclusion
For more leverage, I would recommend to rely heavily in the 4H stoch and open the position at the support dark yellow uptrend line (buy the support sell the resistance). I would always set a stop loss 3.5% below the “support entry point”
I draw a blue Oscilation line that is what I think the movement of the candles within the next 2 days. By the next 2 days we would have 12 more candles which will place the chart in the end of the red triangle. By that time, depennding in the volume we could either see a rally to the $4,500, which is a historical support/resistance level, or go back to the $3,400-3,600 levels.
10^27
Dark Yellow Uptrend Line
The dark yellow uptrend line is giving BTC a good support level in the 4 hour chart. By taking a look in the Stoch Indicator we can predict that there is a possibility that the candles touch the uptrend line.
Triangle Upper Red Line
With this line we can predict that the candles could move towards this line. Whether this line becomes the support or the resistance that is something that I don’t know yet. We will have to see The volume behavior when we get close to the upper red line. However I don’t discard the possibility that we oscillate towards this line within the next 2 days.
Conclusion
For more leverage, I would recommend to rely heavily in the 4H stoch and open the position at the support dark yellow uptrend line (buy the support sell the resistance). I would always set a stop loss 3.5% below the “support entry point”
I draw a blue Oscilation line that is what I think the movement of the candles within the next 2 days. By the next 2 days we would have 12 more candles which will place the chart in the end of the red triangle. By that time, depennding in the volume we could either see a rally to the $4,500, which is a historical support/resistance level, or go back to the $3,400-3,600 levels.
10^27