In the bitcoin we do have clear and good fib levels which I believe the market will show significant reaction at these levels. So I would like to post an update.
Looking at our weekly the stop grabber sell signal has played out. We have COP+ OP cluster at 4700k-4800k (for accurate levels I would suggest looking at bitmex) if the market wants to move lower this zone will be the line in the sand. We can see a big spike but I dont expect a weekly close below this zone. So for those who are asking me where to long this market safely; I already placed my buy limit order.
Now days the liquidty has decreased and the market has been manipulated.. I started to see many waiting to see 4500 k in bitcoin. So who knows the big guys may change the direction and take the market to new highs instead of new lows.
Here is the daily resistance levels that we should be keeping an eye on them. The levels are clear. The daily trend has turned up. We should be monitoring it for the next 3 days for dynamic pressure.
If the market moves higher before making any new lows 7050-7150 will be the first resistance. We can expect a shallow retracement there and then abc up move to our next resıstance at 7650. We have gap at CME futures at 7650 too. I dont expect the market break this zone easily. The journey to 4700 can start from this level if the market cant see closes on it.
Happy Trading..