BTCUSDT NEW CHANNEL INITIALIZATION
As per discussion in out previous posts price have started remaining above 62300 and started to form a bullish Int channel within D-Channel. If this Int channel continues then we may get back into A-Channel by 27-07-24. However there are certain strong resistances to be broken before we get back into the A-Channel.
The sequences are
62300 (Bottom of bearish Int chnl / now at immediate support) 63300 (Mid bone of D-Channel / being strong resistance)
68750 (Top of D-Channel / being last resistance)
Note:- Price have made strong bounce back from Sma200 of D1 TF at 59xxx and also from 60500 creating two strong support levels. Both of them held the price to test bottom of D-Channel 56500 (Our targeted area if you remember).
CONCLUSION : The observation zone is now 63300 and 59xxx. Breaking or Rejecting will trigger the act of entry.
Good Luck !
