The BTC price breaks 107,000$, starting the day and week with impulsive growth. Yesterday in the channel we wrote:
«… overall, we are talking about a very tight range of resistances from EMA, this range is 105,659-106,277$.
It passes roughly at the same point as the trend resistance with the ATH on May 22.
Breaking through this range may lead to an impulsive rise.…»
And in the chat by night we added:
«The last 4 hours of the 12-hour candle have passed. The third mark of a potential low. If we can avoid dumps during this time - upon breaking the trend line and EMA 50, we may get an impulsive move to 106,720.»
So far, we are following this growth scenario and even going higher. Marks of potential lows on the 8-hour and 12-hour timeframes are performing excellently.
- 3-hour timeframe:
The last two - are especially important for bulls. The basic targets that have not yet been achieved:
- 3-hour timeframe:
-- 108,052$,
-- 108,909$.
4-hour timeframe:
-- 108,356$,
-- 109,367$.
These are good signals for bulls. Overall, regarding trends on different timeframes, the situation looks like this:
- hourly, 2-, 3-, 4-, 8-, 12-hour, 3-day, weekly, monthly timeframes - a steady uptrend.
- 6-hour, daily timeframe - a steady downtrend. The first level of potential breakdown is 108,563$. The second - even lower, exactly 108,000$. It happens.
The picture on the daily timeframe - the only thing that worries about growth prospects. But for supporters of some strong correction, we want to remind about the BUY signal for #BTC from the Hash Ribbons indicator, which was on the daily timeframe on May 22. The sixth in this cycle. Traditionally, a long squeeze follows it, and then - growth. The only question is whether a 10% correction, which has already passed since May 22, is enough for a long squeeze. Our opinion - quite.
On horizontal levels - the break of the mentioned 106,720$ made it secondary, the indicator removed it from the chart. Now there are only two important nearest levels - resistance at 107,096$ and support at 105,405$.
Between them, quick impulsive movements are possible. But now we expect that even in the case of testing 105,405$, the path upward will remain open. All other nearest supports and resistances are shown in the screenshot.
On the uptrend signals on the 3-hour and 4-hour timeframes, we have doubled our long position in the framework of experimental #futures_trade with 125 leverage. We added additional liquidity. The entry level has shifted from 103,652$ on June 13 to 105,309$ today. Expected liquidation - 100,998$. Paper profit from +400% has decreased to +200%.