Hello Traders, HAPPY, HEALTHY AND PROSPEROUS NEW YEAR. During Christmas nothing really happen on Bitcoin. Right now market moving sideways between 48000 and 45000. TL1 “protect” from rising Price and TL2 from falling price. As you can see 48000 its very strong resistance, price try many times break through but fail. Watch this level this is very important, first candle break trough and close above that level will be signal to potentially long position. On the other hand 46500 level will be critical support. Vertical red line indicates reversal price direction. You have pay attention to this line. When you going to open position either long or short, you can change chart to the lower time frame to make more precise position.
Cheers, Jim
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Sorry I forgot to add Momentum is neutral zone. this is indication very slow and not tradable momentum.\ cheers, Jim
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Morning, Look how perfectly price responds to TL2.
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We have reversal signal. Look on vertical red line. But wait until we get closed candle.