It's time for an update
In my last update I implicitly issued a "buy" signal across the entire CC market and since in today's world it's a rare "buy and hold" market there's not much to say in addition except identifying resistance and potential reversal levels until we are clearly out of the woods and good to go up with no interruption.
One of such levels we cleared just now and that is 89 DWMA (brown). The daily volatility implies targets in the region of $10240-10560.
https://www.mql5.com/en/charts/8592349/btcusd-d1-simplefx-ltd
Which is very close to the top of the range
https://www.mql5.com/en/charts/8592359/btcusd-d1-simplefx-ltd
So, potentially, until we clear $11600 there is still a possibility of a rejection at this level and a reversal back to the bottom of the channel. But before we get there we are yet to overcome a strong resistance of the 34 weeks WMA (yellow) currently at $9700.
https://www.mql5.com/en/charts/8592366/btcusd-w1-simplefx-ltd
Also, since all major ALTs have a high positive correlation with BTC it may serve as a guiding tool for the rest of the market.
Thanks for the continued sharing of your knowledge/perspective srezz. Always great to see your charts and read your thoughts.
Thanks friend for sharing yr knowledge👍
Great thank you Srezz, as always your targets and forecast are spot on and hats off to you :)
Thanks Srezz for the update.
Thanks Srezz for the update.
Congratulations @srezz! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
To support your work, I also upvoted your post!
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPjust a question is WMA same as MAW, Moving Average Weighted?
yes
thanks srezz! you are the best!
Thank you srezz.. you are amazing
top notch, thanks!!