BTC zones of interest

19 Mei

If the bull mood weakens with an incursion towards the first green rectangle as correction, and a proposed attempt of a bull wave fails to break the second blue rectangle, I am considering the bears won't be able to push this as low as the previous low around 56400. With that in my mind my favorite zone of interest for a potential reversal and the triggering of another push above would be the red zone. Don't think this could provide a more detailed setup like a double bottom or other formations, could be just a simple turnaround and shift in momentum, but would require confirmation for continuation after a potential pivot in direction.

Other scenarios would be a stop and a break of the blue rectangle, but in both scenarios I don't know if there will be enough power to break the 73700. Maybe stop bellow and consolidate a bit, but either way, the overall picture looks solid enough to assume that for the next weeks BTC will have what it takes to stay clear of the previous low that started the current bullish attempt.

All 3 rectangle zones are proposed potential support/resistance zones.

30 Mei

Nota

Arrived at the Blue Zone with the potential of a bull run attempt for higher highs.

4 Jun

Nota

Finally a break and a retest with bounce at the blue zone. Not sure if the push will be a definite decisive power bull run, but the concept of the blue rectangle was decently solid.

8 Jun

Nota

Pullback at the blue zone with some support (maybe temporary) found in the corner. Will it rebound or will it keep falling? I can't discard the last scenario, especially as the blue zone is over for now.

1 Jul

Nota

Not looking for bitcoin and not just necessarily because it didn't land in the red zone. Looking for potential resistance to be met around 66k if it even gets there. All hope is not lost for the bulls but this definitely needs a good push and support to even be able to climb to higher ground.

18 Jul

Nota

BTC update for the previously added yellow zone. Some resistance met, but there is still a case for the bulls if the coin market slips between the two rectangles and finds some support on the small purple.

26 Jul

Nota

A nice way to end an almost meaningless project with a pivot from the blue at the purple. End project.