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BTC Support and Resistance Zones and Price Targets 3/8/2021 for BINANCE:BTCUSDTPERP by CryptoGuru369

Aloha beautiful souls!

We can see here that BTC has been ranging between about $44,400 and $51,750 since the 22nd February.

If I see a break in the top side of the range, then I will be targeting a move to the next pivot point around the $54,000 – $55,000 zone, with possible continuation all the way up to the next pivot point around the $56,500 – $56,500 pivot point .

If the bullz cannot push through resistance, then I suspect we’ll see a move back down to the range midway point and if support does not hold there, the bottom side of the range.

If the bullz cannot hold support at the bottom side of the range, then I will be targeting a move down to the daily 0.618 Fibonacci which is strong support zone . If price does come down we are likely to see a decent bounce there if not medium-term reversal.

In this chart, we can see that 4H HVP has contracted extremely. Historically, we can see that HVP contracting this far precedes extremely volatile price movements! Yeehaw!!!

4H RSI is confirming the formation of ascending triangle , which statistically is more likely to confirm a bullish outcome. If I see a 4H close above the prior 4H high at $51,763, then I suspect we will see a bullish continuation!

Looking at daily stochastics, we can see that they have recently flipped to the upside. Historically, this has lead to bullish continuation!

Here on the daily, we can see BTC closing daily candles above the 21EMA (yellow) and a bullish cross of the 10SMA (red) and 21EMA.

The Wrap Up
Regardless of whether the bullz or the bears take charge here at this crucial pivot point , HVP informs us that we are likely on the precipice of a nice move! This move should have enough gas in the tank to break through resistance or take us back down to the midway or bottom of the range.

Albeit things are looking bullish currently, best to be prepared for every eventuality!

Let’s get this crypto!


Guide to My Charts

-The purple horizontal lines are support/resistance ‘zones’. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!

-Yellow lines are typically used to chart out pattern formations and trend lines!

-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).

-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.

-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.



Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!



Disclaimer:

This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.

These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.



Guide to My Charts

-The purple horizontal lines are support/resistance ‘zones’. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!

-Yellow lines are typically used to chart out pattern formations and trend lines!

-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).

-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.

-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.



Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!



Disclaimer:

This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.

These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.

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