BTC - 6h. Buyers are preparing for the test of $60,000

Mar 22, 2021

Good afternoon everyone! The new BTC week began with an attempt by sellers to lower the price below the critical range of $56,000-56500. At the beginning of the day, sellers managed to touch this range. However, the 4h candle closed with a hairpin down. This fact shows that buyers are ready to hold a critical range and fight for a new wave of growth.

In the range of $56000-56500 there is a critical trend line of the global wedge, which we wrote about in our previous idea:

Having lost this trend line, buyers will finally capitulate and open the way for sellers to $45,000. Therefore, it is important that today's daily candle closes above $ 57400. In this case, tomorrow we will see a new wave of growth and an attempt by buyers to go beyond $60,000.

Have a great week and take care of your deposits!
P.S. Statistics of our trades last week here:

Mar 23, 2021

Comment

Good afternoon everyone. Tonight was pretty unpleasant for many altcoin buyers, including us. Sellers managed to break through the critical range of $56000-56500, which we wrote about in the previous post.

However, Buyers managed to keep the price at $53,570. Below this mark, sellers will have a great chance to buy $45,000-46,000. Therefore, the current consolidation and the likely counterattack of buyers is very important.

On the 6 hour timeframe, we see that buyers are laying the foundation for the start of growth and are trying to push off the trend line of the global white wedge. The first problem for buyers is in the range of $56000-56500 . To make a decision, go long now, wait for the test of this range and see how aggressively sellers will try to continue falling. If the fall is weak and on low volumes and buyers hold 54,000, the probability of the $ 58,000-58500 test will increase significantly.

Most of our positions were knocked out in the stops. Therefore, we are monitoring the situation and looking for a safe entry into the position. Have a great day everyone!