BTCUSDT NEW HIGHS INCOMING????For the last 3 days price has rejected the 200 day supply at 63,379.12. If BTCUSD can close above its daily supply at 63,379.12 we can see some expansion of channels to move price higher. If price can get above this area it is possible that we can see a potential move to reclaim the next supply sitting at this month’s current highs at 64,467.02. This area should act like a magnet for price. If price is able to reclaim that supply sitting at this month’s current high at 64,467.02, the next level of supply then appears at 66,272.35, this is the upper B-band. If price can close above the upper B-band, price can stretch to 65,624.95 which is last week’s highs. At this area we can potentially chop around and go into some distribution until buyers can push price up to its next area of supply at 66,550, which is last month’s highs and also our last supply area on our daily timeframe this new high confirms a Higher High on the daily chart so a pullback could turn into a reversal if the bulls are exhausted. Remember for continued moves up (trend) we want to see higher highs and higher lows watching for reversals & pullbacks using price action & volume.
Trade Safe!
@T.w.i.n.e.y
