Ready to juggle some knives? BTC/ market update
Good evening, folks. A rare article by Roti has appeared! I honestly am not making these often these days, as I’ve got a lot of things going on. But from time to time I do post some updates over on the Discord so do check my status update on Tradingview for the link to that.
Follow this link to see the original idea and video:
Ready to juggle some knives? BTC/ market update by RotiWokeman on TradingView.com
I won’t repeat much of what was said in the video, but essentially we’re getting a tightening pattern of consolidation in BTC with some correlation with the S&P500. The recent upswing was partially riding on good earnings from the tech sector and I think there were enough crypto FOMO articles to balance out the FUDicles. Other pairs are correlating with BTC though that is occasionally breaking down. LTC is a laggard while ETH continues to test an uptrend with more strength than BTC. BNB is doing the same but I’d be cautious of a correction.
Focusing on BTC, we lost the higher lows on the 15min as the weekend approaches and volume drops off and stabilizes.
The video hit the 10 minute mark before I could tell you the specific areas to watch on BTC so here they are:
With a breakdown of the 1hr/ 15min channel of 9266, I am expecting a return to the support of 8977 though we may dump as low as the 23.6% fib zone (8914). We now have resistance at 9320 with a 61.8% fib zone supporting it. In the event of a bull break there’s a psychological resistance of 9500 overhead, a bull break target has a pretty solid wall around 9530 with a 78.6% fib zone supporting that.
Here’s a 4h view:
--
Start trading now on Binance: https://www.binance.com/?ref=22070218
Cryptide Discord: https://discord.gg/DnsjXCb
Follow me on Twitter: https://twitter.com/Rotiwoki_woo
Investfeed: http://www.investfeed.com/Rotiwoki_woo
Bitcoin Donations: 38n9J1kiN21FakTE8Z1VCPi2UgMn2
--
This has been for educational purposes only and is not intended as financial advice.
Look at that perfect Fib bounce, that's just too much. I have to sit down.
Knife has been caught, sell target is 9070 but don't listen to this guy. Scaling your orders is wise.![](https://steemitimages.com/640x0/https://www.tradingview.com/x/qnfc1WNS)
Coins mentioned in post:
Congratulations @roti! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Do not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Congratulations @roti! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!