Bitcoin / TetherLong
KEY LEVELS UPDATE FOR BTCUSDT: 11/28/2023
The key levels, shown as white and yellow lines, are derived from my indicator's calculations. These levels are derivatives of prevailing RSI values using 6-period. The white and yellow lines represents the 1 hour and 5 minute time frame respectively. I labelled each line with corresponding percentages, i.e., 15% to 70%. My indicator also shows the lower and upper 50% zone.
Notice that the upper 50% line (of 1 hour) and the resistance zone as well as the 15% line (of 5 minute) and the 50% line (of 1 hour) forms a confluence - 38187.0 and 37674.9. This could indicate that these are both strong levels where price can form another higher highs or lower lows depending once the price closed above or below these levels. Price is expected to hover between the 70% and 30% lines (areas), between 37943.7 and 37674.9.
With the current levels, price may attempt to reach the 70% line (of 1 hour) once the price closed above the 50% level (of 1 hour).
I would place a BUY order at 37674.9 and 37409.5
/please DYOR/trade at your own risk
Notice that the upper 50% line (of 1 hour) and the resistance zone as well as the 15% line (of 5 minute) and the 50% line (of 1 hour) forms a confluence - 38187.0 and 37674.9. This could indicate that these are both strong levels where price can form another higher highs or lower lows depending once the price closed above or below these levels. Price is expected to hover between the 70% and 30% lines (areas), between 37943.7 and 37674.9.
With the current levels, price may attempt to reach the 70% line (of 1 hour) once the price closed above the 50% level (of 1 hour).
I would place a BUY order at 37674.9 and 37409.5
/please DYOR/trade at your own risk
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