192. support holding = staying long

Basically ;

• Breaking upside the 228.0 area with signs of strenghts = next target; 240.00-245.00.
• Danger = if break under the 185.00 area on a SOW & signs of weakness appears
• Get out of all long positions & look for sell entry if Break UNDER the 160.0 area on a SOW or showing signs of weakness from demand, and supply taking advantage over it.


Demand has been in power and has been keeping on showing a strong presence if we read volume according to price from the candle that closed on the first week of December 2019, We can see that demand has been holding power ever since. So for price to drop considerably downward, price would need to go into a distribution cycle first.

• { week of the 11/01/21 till the week of the 25/01/21 } = Price has closed these 3 consecutives weeks with absorption of supply during the retracement toward the 110.00 support area.

• week of the 08/02/21 ; Price was propulsed on heavy demand upward and closed at the 215.00 area on a engulfing bullish candle.

• Week of the 15/02/21; Price made a strong agressive reaction upward closing printing a upside hammer on heavy demand to close the week.

• Week of the 22/02/21; Signs sinificant supply volume appearing during the retracement of the HH with a bearish candle that we can fairly considerate a engulfing to close the week, at the 160.00 still making it being considerated a retracement even if theres bearish intentions presence.

• During the two first of week of March 2021; Brought price upward to 220.00 where it showed some important wick rejection of the area for the candle closing the second week of March 2021.


** Then currently this month price is showing some absorption of supply and wick rejection to the upside at the 190-191 support zone. Where it showed a great strong presence of demand the last time it was testing this support zone ( candle of the week { 15/02/21} closing on a major wick rejection to the upside on heavy demand from the 185 area.


Will update the analysis and share the markup and deep observations of it on smaller time-frame tomorrow. Subscribe to stay updated. this be an old analysis from a couple of days , gonna post detailed new ones in the new hours about btcusd,ethusd,ltcusd,xrpusd & more; stay tuned