BTC (Y19.P2.E14).Short.Resistance range

As the chart shows, there are potentially many resistance points and the question will be, which one of these will the majority chose.

Currently there is a bearish divergence in the 2 hrly chart but all clear above that.
BTC Dominance continues to go up slowly (chart below) until it hits the red section on the RSI

The resistance points are:
a) fib levels in the channel
b) MA
c) support and resistance levels
d) confluence with the 4 hrly RSI resistance range

The red section in the price chart and is the range and it has confluence with the following
a) inverse H&S target
b) 4 HRLY ema, blue being 200 and orange being 100 resistance
c) fib levels in the channel
d) support and resistance where 8K is the psychological barrier
e) RSI level.

I have spread my sell's within this range and expect a pullback of some sort and then I plan to wait and monitor

On the 1 HRLY chart, we have reached our price and hence expect a pullback at this point

2 HRLY chart

4 HRLY Renko chart

4 HRLY Dominance Chart

Previous target in previous BTC post

Please give a thumbs up or a like if you agree or just appreciate the effort.

Regards,
S.Sari /CryptoProspa

Long term, I do expect a reversal between 8000 and possibly to 8500 at most

Commento:

Commento:

Let's see where this takes us... bearish sign however I believe like all the other times, its part of a bigger wedge or pennant or channel formation. This could also be the highest its going to go...

Trade chiuso: stop raggiunto:

The inverse H and S did not reach its potential target. The price respected the 4 HRLY 100 EMA like before the major 40% up-brake indicating we are still in the bear trend and looking for further lows. For now, it looks like its stuck in a downward channel, even though its gone up a channel. Until this EMA is decisively broken and retested, I would not go long.