BYBIT:BTCUSDCME:BTC1! Hello everyone 😃 Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it !
📊 There are two factors that makes me bullish in short-term on #BTC ! - Still moving in a bearish pennant - CME gap formed on 63K
📌 Have to mention that the bias is bullish on macro view and the current bearish pennant is target the supports below 50K's level !
📚 There will be 2 scenarios : 1st - Break below the pennant, This could be happen right here or after a retest on the pennant's high.
2nd - Break above the pennant and fill the FVG and CME, This scenario will be triggered when we reach the high in pennant's range !
So for now; As we holding the pennant we'll be safe and I'll looking for the potential LONGs in short-term on mid-cap ALTs...
🔴 If #BTC get below the pennant, Then we might face a stop-hunt event below the lower 4H's demand.
Hope you enjoyed the content I created, You can support us with your likes and comments ! Attention: this isn't financial advice we are just trying to help people on their own vision.
Going to wait for the daily close before I draw any conclusions, but this kind of rejection usually starts a new move and in this case it would be our move to 53k / September high.
Alts that have pushed over the weekend and today will likely make a higher low. In general, alts will pull back with bitcoin but those that have shown strength before the market pulls back end up putting in a higher low while bitcoin drops to put in a lower low before reversing. This divergence is usually an underlying sign of strength within the alt market.
well it's crypto market my long position is set to 53k area if daily or 4 hour closed above and then we have formed come gap at 62k area there isn't any strong reason to sell but those who got btc at low prices definitely wants to make some profit and then get it cheaper untill 60k breakout there's nothing clear so be safu never liquidate alt season ahead #nfa #dyor
Helical_Trades
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@amalturk, That's what I'm talking about ! Simple and detailed.. Thanks for sharing your vision mate ;D
MonoCoinSignal
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Strong analysis
kimstandgraph
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Amazing idea
CatTrap
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panic selling setting on, bears have control
Gunslinger2005
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@CatTrap, lol... enjoy getting trapped and missing last opportunity simultaneously. buy 55 and thank me later.
TM_M
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@CatTrap, I'm new, but I believe that the panic will soon stop, the bears will go into the woods and everything will be fine))
ER23
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Right now it’s in the 161.80% level if you drew a extension from 69K to 62K to 66K. I believe we will be correcting and going towards 62K