RT Supports HOLDING 4H+8H Heffae Clouds; Long with TIGHT STOP
Updated
Bitcoin's ability to maintain bullish momentum comes down to a few lonely support lines.
Let's look at the Rejections and the bearish case first:
Daily had another rejection on the SAME LINE that had been rejected before on the cloud:
s3.amazonaws.com/tradingview/snapshots/v/VeTJwdyE.png
However, we know that when the same resistance or support path is hammered over and over, as long as price has close supports underneath for refueling another move, that resistance / support will be violated and price will push past it, sometimes re-testing the inverse (Support if Resistance etc.) Another thing to note is that the daily path that has been hammered is MOVING UP QUICKLY at this time, so even if it continues to be resistance, that level is much higher.
The 4 Hour has a massive series of rejections on the bottom of the cloud, which is a CLASSIC Heffae Cloud signal to get heg'd:
s3.amazonaws.com/tradingview/snapshots/l/lwDnKljj.png
All of the 6 Hour Real-Time supports have been violated and now function as resistance, as well as an offset 6Hr cloud rejection:
https://s3.amazonaws.com/tradingview/snapshots/w/wDqJp5DA.png
The 8 Hour has a wick through realtime additive high (thin green line that becomes relevant):
HOWEVER! Now we start to see supports show up on the 8Hr realtime. Look at the below chart
s3.amazonaws.com/tradingview/snapshots/j/JdqAcZvO.png
Now, for a more bullish case, the 2 Hour has support on the bottom of the cloud, which also aligns with realtime low support:
s3.amazonaws.com/tradingview/snapshots/y/yiU73kea.png
Finally, the 3Hr gives us the most bullish of neutral outlooks of all time-frames. Broken support on the cloud, but realtime support holding as well as a re-emergence into the cloud as support. Note that once a cloud path has been violated, it's local strength is weakened.
s3.amazonaws.com/tradingview/snapshots/t/twuiBsmK.png
Make sure to give a thumbs up if you appreciate the analysis!
Let's look at the Rejections and the bearish case first:
Daily had another rejection on the SAME LINE that had been rejected before on the cloud:
s3.amazonaws.com/tradingview/snapshots/v/VeTJwdyE.png
However, we know that when the same resistance or support path is hammered over and over, as long as price has close supports underneath for refueling another move, that resistance / support will be violated and price will push past it, sometimes re-testing the inverse (Support if Resistance etc.) Another thing to note is that the daily path that has been hammered is MOVING UP QUICKLY at this time, so even if it continues to be resistance, that level is much higher.
The 4 Hour has a massive series of rejections on the bottom of the cloud, which is a CLASSIC Heffae Cloud signal to get heg'd:
s3.amazonaws.com/tradingview/snapshots/l/lwDnKljj.png
All of the 6 Hour Real-Time supports have been violated and now function as resistance, as well as an offset 6Hr cloud rejection:
https://s3.amazonaws.com/tradingview/snapshots/w/wDqJp5DA.png
The 8 Hour has a wick through realtime additive high (thin green line that becomes relevant):
HOWEVER! Now we start to see supports show up on the 8Hr realtime. Look at the below chart
s3.amazonaws.com/tradingview/snapshots/j/JdqAcZvO.png
Now, for a more bullish case, the 2 Hour has support on the bottom of the cloud, which also aligns with realtime low support:
s3.amazonaws.com/tradingview/snapshots/y/yiU73kea.png
Finally, the 3Hr gives us the most bullish of neutral outlooks of all time-frames. Broken support on the cloud, but realtime support holding as well as a re-emergence into the cloud as support. Note that once a cloud path has been violated, it's local strength is weakened.
s3.amazonaws.com/tradingview/snapshots/t/twuiBsmK.png
Make sure to give a thumbs up if you appreciate the analysis!
Note
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Note
s3.amazonaws.com/tradingview/snapshots/v/v7VZIPVY.pngPRICE BROKEN THROUGH SUPPORTS ON RT Daily and 4HR
Daily Cloud Diverging
I don't see much hope
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