Levels I'm Watching For The Downside.
Inverted BTC chart.
i wouldn't start looking for lower targets until 26.5k is broken as support.
Levels marked in red:
Losing these levels will most likely lead to a market bleed.
(The two higher at 46-53k are our peak 150 day moving average for the past cycle, btc has always retested these levels before the halving, first sign something may be "wrong" if we don't see these levels by early Q2 2024)
Levels marked in black:
I'm viewing as strong resistance/support
Levels marked in green:
Will act as soft supports/ resistances, but they most likely wont be pivotal levels.
(Lighter the green the lower amount of play that levels has seen)
Levels marked in gold:
Pivotal levels/ very bullish if we can crack through them.
Larger green/red zones is our consolidation ranges where market participants like to take risk on the table/ take risk off the table.
25.2-27.2k, as seen on the chart, has never been consolidated in.
It would make sense for market participants to fill that trading gap before choosing a direction.
Below 26.5k i'm aiming at our first Black level at 21.5k.
Above 26.5k and i can see us trying to come back up and try and tag 33k one last time.
That's it for now.
As Always,
Good Luck and Safe Trading.
i wouldn't start looking for lower targets until 26.5k is broken as support.
Levels marked in red:
Losing these levels will most likely lead to a market bleed.
(The two higher at 46-53k are our peak 150 day moving average for the past cycle, btc has always retested these levels before the halving, first sign something may be "wrong" if we don't see these levels by early Q2 2024)
Levels marked in black:
I'm viewing as strong resistance/support
Levels marked in green:
Will act as soft supports/ resistances, but they most likely wont be pivotal levels.
(Lighter the green the lower amount of play that levels has seen)
Levels marked in gold:
Pivotal levels/ very bullish if we can crack through them.
Larger green/red zones is our consolidation ranges where market participants like to take risk on the table/ take risk off the table.
25.2-27.2k, as seen on the chart, has never been consolidated in.
It would make sense for market participants to fill that trading gap before choosing a direction.
Below 26.5k i'm aiming at our first Black level at 21.5k.
Above 26.5k and i can see us trying to come back up and try and tag 33k one last time.
That's it for now.
As Always,
Good Luck and Safe Trading.
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