Datareport Log BTC-USDT-PERP
Daily Analysis of BTCUSDTPERP.
13/08/2022 saturday
BTCUSDTPERP
Monthly Timeframe:
From the monthly timeframe going downwards. 17 593 Is holding the price up, creating a slight pullback to the upperside of the range. Range 9 900 - 12 500, hides a demand zone. That zone is a strong support, we can't expect the price breaching that range to go down. If we believe in that hypothetical wall, where the price won't or can't breach, we can distrack the noice out of the chart. By saying noice i mean the levels beneath the range of 9 900 - 12 500.
The upper range that will hold the price down (monthly) in the upcoming weeks will be 28 780. This price level is a backside of the larger part of the movement. Hence, it should be a strong resistance to break through. That's why, the price can oscillate multiple times between the lower and upper hold ranges; (9 900 - 12 500)/(28 780).
Note: As long as 17 593 is holding, we take that level as the bottom side of the range. Hence going forward, the range (9 900 - 12 500)/(28 780), is now (17 593) / (28 780). The price will oscillate from 17 593 to 28 780 on a monthly timeframe.
To finish, by looking at the monthly trends, we can confirm that the movement of the price is getting smaller. Next coming months, range shifts.
Weekly Timeframe:
As we speak, we see that the price is now oscillating between the upper and lower ranger. (not the extended). 17 593 held the price, hence this is a strong hold (support) level. At the upperside the next upcoming resistance will be at 29 220. This level is the inverse of the range. So the price can go a bit higher than 29 220, the range where the price is going to find it's hold level will be in the range (29 220) / (32 452). There is a hidden strong supply area at 28 780. The price needs to develop a bit more to have a confirmation on my bias.
13/08/2022 saturday
BTCUSDTPERPMonthly Timeframe:
From the monthly timeframe going downwards. 17 593 Is holding the price up, creating a slight pullback to the upperside of the range. Range 9 900 - 12 500, hides a demand zone. That zone is a strong support, we can't expect the price breaching that range to go down. If we believe in that hypothetical wall, where the price won't or can't breach, we can distrack the noice out of the chart. By saying noice i mean the levels beneath the range of 9 900 - 12 500.
The upper range that will hold the price down (monthly) in the upcoming weeks will be 28 780. This price level is a backside of the larger part of the movement. Hence, it should be a strong resistance to break through. That's why, the price can oscillate multiple times between the lower and upper hold ranges; (9 900 - 12 500)/(28 780).
Note: As long as 17 593 is holding, we take that level as the bottom side of the range. Hence going forward, the range (9 900 - 12 500)/(28 780), is now (17 593) / (28 780). The price will oscillate from 17 593 to 28 780 on a monthly timeframe.
To finish, by looking at the monthly trends, we can confirm that the movement of the price is getting smaller. Next coming months, range shifts.
Weekly Timeframe:
As we speak, we see that the price is now oscillating between the upper and lower ranger. (not the extended). 17 593 held the price, hence this is a strong hold (support) level. At the upperside the next upcoming resistance will be at 29 220. This level is the inverse of the range. So the price can go a bit higher than 29 220, the range where the price is going to find it's hold level will be in the range (29 220) / (32 452). There is a hidden strong supply area at 28 780. The price needs to develop a bit more to have a confirmation on my bias.
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