Cryptocurrencies

Update Bitcoin 1D

During the course of yesterday, the price lost the mid range support, this support had been “hit” multiple times due to the strong selling pressure, however, the buy zone located within the range of 9106 – 9194 still remains strong, the structure still doesn’t give a downward signal, if we lose the 9100 support, we would have the first downward signal.

In conclusion, BTC still doesn’t give us a downward signal, the price is being rejected again in the buy zone, however, we need to recover the 4H FLIP S/R to look for the high range and get the middle zone of the range, when we have this scenario, there will be a final decision from the market, ranges are areas in which you must have a lot of patience and keep calm before the intermediate movements, as confidence you must know that while we have a previous initial impulse of a third wave, the price is not going to fall in an ABC, we should expect a range of intermediate reaccumulation before a strong upward movement, as we are currently seeing.

Yesterday I made the mistake of taking for granted the movements that were still to be expected in the pattern, since I am publishing daily updates, I should not take for granted to the reader something that I can still modify in the course of the day in relation to the reaction of the price in intermediate levels, I apologize for that, I will only make the prediction when the movements are completed and the price is ready to move towards that direction, in the meantime, the daily updates will be on the price action developed during the day.

You can follow me on Twitter: https://twitter.com/armijogarcia

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