Classic buy set up. This is update on ideas attached below.
Bitcoin first decline in to weekly green support and at the same time oversold on daily- hitting bottom bolinger.
Resistance red band on daily- will be broken in three possible ways:
First It will break right away and will become support- buy more on retest
Second it will reject price back to the bottom bolinger but not as deep- buy more on retest of bottom bolinger
Third it will rejects price more deeply to the bottom bolinger - buy more on that retest.
On 4hr it get rejected from bottom bolinger with double engulfing and rebounds in to previous support zone - it should provide resistance now after been broken,but found no resistance with bears produced only one red candle and that was overcome without hesitation by green candle.
Next top bolinger on 4hr will be same area as resistance red band on daily. Short term buyers will take profits and will try to sell again. Strong rebound from bottom bolinger on 4hr also creating bull 180 reversal after long decline.
In overall any asset that oversold on daily and in same time in support on weekly and monthly- creating super buy opportunities.
Bitcoin first decline in to weekly green support and at the same time oversold on daily- hitting bottom bolinger.
Resistance red band on daily- will be broken in three possible ways:
First It will break right away and will become support- buy more on retest
Second it will reject price back to the bottom bolinger but not as deep- buy more on retest of bottom bolinger
Third it will rejects price more deeply to the bottom bolinger - buy more on that retest.
On 4hr it get rejected from bottom bolinger with double engulfing and rebounds in to previous support zone - it should provide resistance now after been broken,but found no resistance with bears produced only one red candle and that was overcome without hesitation by green candle.
Next top bolinger on 4hr will be same area as resistance red band on daily. Short term buyers will take profits and will try to sell again. Strong rebound from bottom bolinger on 4hr also creating bull 180 reversal after long decline.
In overall any asset that oversold on daily and in same time in support on weekly and monthly- creating super buy opportunities.
