BTC Weekend Plan: 34800 & 33250 Target Demand
RESISTANCE = 38550 (red region)
If we flip resistance that is clearly bullish. However, I believe I suspect we see a bigger dip to suck up some demand at lower levels IF we are to continue higher into Range High (42000).
DEMAND Primary = 34800
1. 0.5 Fibonacci retracement of the range is "Range EQ" AKA Range Equilibrium. Tends to be a pivotal point for bull/bear Price Action (PA).
2. 4H 100 EMA would converge with price if we are to dip to this level.
DEMAND Secondary = 33250
1. 0.618 Fibonacci retracement of the range is the "Golden Ratio." Tends to be the maximum extent of most corrections.
2. Price would retest the Trend Line (TL) breakout that preceded this pump.
3. 4H 200 EMA would converge with price if we are to dip to this level.
If we flip resistance that is clearly bullish. However, I believe I suspect we see a bigger dip to suck up some demand at lower levels IF we are to continue higher into Range High (42000).
DEMAND Primary = 34800
1. 0.5 Fibonacci retracement of the range is "Range EQ" AKA Range Equilibrium. Tends to be a pivotal point for bull/bear Price Action (PA).
2. 4H 100 EMA would converge with price if we are to dip to this level.
DEMAND Secondary = 33250
1. 0.618 Fibonacci retracement of the range is the "Golden Ratio." Tends to be the maximum extent of most corrections.
2. Price would retest the Trend Line (TL) breakout that preceded this pump.
3. 4H 200 EMA would converge with price if we are to dip to this level.
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