Do you remember this ?! what the chance to see it complete by100%?! first, you need to know market and analysis is about possibilities, and there is no sure thing as long as the chart and price move did not show it and support it,
All that we, the analysts, offer are probabilities and they come from the chart, and with the previous signs and the current signs it shows, we can develop a trading plan, None of us is coming from the future to tell you what will happen next, It's all about the possibilities and which one gets more assurances. Of course, it would be nice to know which direction to follow, but you can only determine this through what the chart shows for you.
As an analyst, I do that always, i set plan A and plan B, and as a trader, you should make your own plans, and this will make you ready for everything and during my explanation of a movement, I should not be biased towards a specific direction, but on the contrary, i should explain everything. Thus, the analyst is unlike the trader, the trader is biased towards a direction and then speculates and this bias will be correct when the analyst explained everything correctly because in this case, the trader is aware enough of what is happening, and he will go with trading signs which the chart shows and support next trend, and this will come from the explanation of the analyst who shared what he saw on the chart with all neutrality.
Bulls and Bears fight as always?! There some bearish traders start talking about 10K as a dip targets and the bullish cycle is over ( I'm one of these traders) don't take it as advice, we are here to present it in a neutral manner based on the chart, and also Bullish traders say no its 2017 correction the price will go higher to 70K/100K (Logically I agree with them)
Now let us back to the chart, we will try to explain both sides from the chart view, in the last mid-term analysis we shared with you we talked about bullish and bearish terms for btc and mentioned 54K as major resistance for BTC prices goes up a little to 58K and dropped -21% after our update from this area !!
Identify the critical level for the current movement?! we can see a completed AB=CD pattern which gives clear targets for retracement levels, and it shows 37/30K as the current support level, Also if we drag fib from 16K to 58K you will see clearly 0.618 located at 37/30K, you can test other ways like classic TA, Digital analysis, etc,
Bullish side terms: to see BTC achieve new high levels we need to see it hold above this support zone we mentioned without a weekly or monthly close below it, if bulls did that they will able to see BTC achieve another New ATH. (We charted a possible scenario for the bullish movement in case the bulls win this fight.)
Bearish side terms: Breaking 30K weekly or monthly and close below this will strongly sign to show how bears started to dominate again and in this case, bears can drag the price down to 21K or lower. (We charted a possible scenario for a downward movement in case the bears dominate again)
Which levels as a trader i can get benefit from it?! for us, we set 42/37K zone a scalping area you can manage scalping trade from it " if you are Pro trader only" $31/29 is a good potential buy zone. (Don`t forget to do your own research)
logically thinking Vs biased person why i agree logically with this bullish view?! due to there no big sign confirm the end of the bullish trend yet,
why I'm a bearish trader and biased to a downtrend?! the monthly close can give an early predicate for the end but it subject to fail, and bearish in fomo market is a healthy thing as like bullish in Fud market, and also buy dips and lower prices give good chances for sure with great R: R.
💡Quotes of the Day💡
"You don`t need to fight with someone to prove your view, let results prove it" ―Mark✍️
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful” ― Warren Buffett ✍️
“People hate to think about bad things happening so they always underestimate their likelihood.” ― Jamie Shipley, The Big Short ✍️
“Expect nothing but be ready for everything.” ― Debasish Mridha ✍️
Remember, The person who is obsessed with bullish thought can extract 10000 scenarios for bullish movement and the same with a bearish person. for us, we extract both sides and we define the best buy /sell zone and trade based on that, and what we care about is what happens.
Ps: We don't short btc or using leverage or trading BLV tokens!! our signals for spot trading only. Also, The TA updates is an explanation for market movement(not mean buy or sell) We will tell you to buy or not through a clear signal with clear targets and stop-loss risk management, etc, not anything else.
This is not financial advice, The purpose of these Charts to give you an idea about coin movement (not buy or sell signal) so before following any idea be sure to do your own research, and follow your risk management. Also, the information we mentioned here is a personal effort that is subject to success or failure and we welcome constructive criticism.
Press "like button" and leaving your "comments" below our ideas is a great and supports us provide more ideas.❤️
Good luck to all. we ask Allah reconcile and repay🙏
Hamada,
I really like the way you do TA on you charts, always clean, simple and convenient.
I am happy I joined your telegram channels couple of month ago, not only for signals but also learning the TA, ideas, advices and the quotes of course, since I am the beginning stages and you BTC charts is my reference to do my primitive TA :)
HamadaMark
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Gald to know that Dear @AnasMohsen, Thanks, for your feedback, Anas is a nice name by the way ❤️❤️
Chef-Zef
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I agree on your analysis as a whole, but I think bulls will take over temporarily. I believe we bounce from here to retest that major resistance at 54K over the next few days, then we go into bearish territory towards 41k.
HamadaMark
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why not @Chef-Zef, respect your view thanks for sharing ❤️❤️
Thanks bro