What levels are important for BTC now, after today’s growth?
First of all, to the topic of a potential gap on the CME of more than $2,000, I would like to add that on the daily TF the RSI reached the turning point level of 50. This is the “watershed” between the bearish and bullish picture on the RSI. Such levels are not always achieved the first time.
But while the price is above the EMA of the 200 day TF (currently $58,215) - it is testing the EMA of the 50 day TF (currently $62,307). The maximum target for the bulls today and the coming days, in the most favorable scenario, is precisely the EMA of the 50 day TF. Moreover, if the price again goes under the EMA 200 of the daily TF, taking into account the current test of level 50 on the daily RSI, the target will be invalidated and a move to the volume level of $51,604 will again become a realistic scenario. Marker support to keep an eye on.
Let's add to this that according to the indicator that we made based on the ideas of John Bollinger and Wells Wilder, today it shows a breakdown of the simple moving average (SMA), which separates the bullish and bearish scenario. It goes for $59,481. And according to this indicator, while the price is higher, it is moving towards the following long goals:
- 64 006$,
- 66 268$,
- 68 530$.
For risky ideas of a short against the trend (and it, globally, has definitely been and remains bullish) - if growth continues, these are the levels for pending orders for shorts. How well the multiplier works specifically in our indicator was shown well by the lois on June 24 and July 5. So the goals, in the case of a pump, are quite realistic. But it is worth considering that if there is growth without sudden movements, then the indicator lines as long targets may become lower over the days.
