Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 31/07/2020, 03:20:14 UTC
[edited out]
Your deadzone idea is interesting... We will just have to see how it plays out.  I am good either way.

Surely, looking forward to it.

We each realize that some of the resistance points change, depending on BTC price movements and sometimes how fast the BTC price might move in one direction or another or even how severe or prolonged a correction might be.

Currently, we do seem to be stuck in a fairly narrow BTC price zone around $11k, but we have only been here for 3.5 days.

So sure it would be quite amazing (but not out of the question) if we were to get into the deadzone within the next 1 week to 3 months... and in that kind of quickly getting there scenario, I would expect resistance at $13,880 and at $17,250.. and also more likelihood to fail getting through the deadzone, if we get there so quickly - especially given that we were having troubles getting above and staying above $10k for about the past 10 months or so.

On the other hand, if it takes more than 4 months or even 6-8 months to break above $17,250, then that might change the dynamics, but either way, I am maintaining a tentative deadzone theory but that deadzone theory would be weaker, if we were to go shooting up within the zone without getting some kind of somewhat meaningful correction first.