As some of you know, I am still holding my ETH long from 186.9. Normally I don't hold margin positions for so long but due to being on vacation I decided to stick to HTF rather than checking my TW charts every 5 minutes.
At the time of writing BTC rests on a level 9240. What does it tell us:
BTC flipped major resistance 9094 to support during that huge impulsive move, however it is just resting on the edge, so I would like to see an attempt from bulls better sooner than later.
On TF240 there is a good SFP of the level 9066 that was marked as the deep provided by the breakdown from local triangle.
On Thursday 4-hourly provided a solid PIN-bar. Normally such PIN-bars can initiate a good 8% move, which is confluent with the first serious area of resistance 9900. So these are my odds, folks!
Unfortunate scenario for bullas assumes inability to hold above the 9100 mark, then I would expect sliding towards 8700.
Have a nice trade!
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Despite not being a fan of trend lines I must admit they work when application is right. Well, probably this is fair to say for any instrument, whatever...
According to what I see the price has broken out of the descending trend line (red) which may assume that BTC has entered a period of bull market. Let's see
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Despite consolidation has gone to far and I would have been better out of the market on my ETHYSD margin position on Bybit I see good buying reaction at support 9094.
The first problem area is 9300. When BTC will reclaim that level then I think we have good chances of moving to 9900.
The main task now is to take off the current level
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BTC
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I would bet for a 9300 liquidity probe before a final breakout attempt to me made