Hi!
Currently, I can say that the BTC price probably goes higher from here (at $3,400) and it will achieve the first target $3,500.
Altcoins are on the good shape and they react nicely with this BTC current small movement upwards.
Current scenario:
The price goes into the strong crossing area. There is a recent short-term higher high (orange line), there is the round number $3,500 which works as a resistance AND there is a Falling Wedge upper trendline which works also as resistance.
Those three price action criteria make a crossing area and You should already know that those crossing areas are really hard to beat, especially when we are on the downtrend and especially when we want to go higher from heavy resistance levels.
If the price reaches into the light blue "circle"/area then this area is a decision price zone for short- or even mid-term perspective.
To be said, IF the current 4H candle gets a close below the blue counter trendline (small up-trendline below the price) then it will probably take a bit longer to reach into the $3,500 OR even this could be a sell setup but I'll start to make updates if this counter trendline breaks.
Currently, I can say that the BTC price probably goes higher from here (at $3,400) and it will achieve the first target $3,500.
Altcoins are on the good shape and they react nicely with this BTC current small movement upwards.
Current scenario:
The price goes into the strong crossing area. There is a recent short-term higher high (orange line), there is the round number $3,500 which works as a resistance AND there is a Falling Wedge upper trendline which works also as resistance.
Those three price action criteria make a crossing area and You should already know that those crossing areas are really hard to beat, especially when we are on the downtrend and especially when we want to go higher from heavy resistance levels.
If the price reaches into the light blue "circle"/area then this area is a decision price zone for short- or even mid-term perspective.
To be said, IF the current 4H candle gets a close below the blue counter trendline (small up-trendline below the price) then it will probably take a bit longer to reach into the $3,500 OR even this could be a sell setup but I'll start to make updates if this counter trendline breaks.
