This is a composite of quite a few systems, but the screen here has been reduced for ease of reading. The economic sentiment right now is not favorable so a pullback of BTC is very likely. This is not signaling a weakness in crypto, but just the overall uncertainty in investors in ANY market. Look for the BTC pullback end of March early April. Securities and Banking are seeing difficult times. The safest market may be Crypto (ie Bitcoin). It doesn't mean Bitcoin won't have it struggles (It will), but its promise is to safeguard those who hold it from the ever present uncertainty of the BANKING sector which is a whole different topic.
On this chart you will find secondary support/resistance lines here (dashed blue lines). Hard resistance and supports (sold blue lines). The yellow line is a projection that I am seeing for BTC over the next 6-8 months. I do think once we exist the Gann Box that we will be in a full blown BTC Bull market. For now some intermediate tops and bottoms will be seen. Not in a bull market yet, but soon so stack up! I am! Buy Low- Sell High Any questions/ comments leave them below.
I warrant that the information created and published, doesn't constitute investment advice, and isn't created solely for qualified investors.
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Pullback has begun right on schedule.
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21 hrs from now the 18D candle will close
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BTC resistance at 28.6k
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Some will say the call was off.. however closer examination will indicate the obvious Bull Trap that was going on from 28-30k. Jump forward to today and the new 18D candle has engulfed the previous 18D signaling and confirming the bull trap. The price action will continue downward. I would expect consolidation to take place around 20-222k. There will be consolidation at 24-26k as well, but I am not confident it holds there. By this time many will have bought into the bear cycle and get caught into a bear trap. Stay vigilant.
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Starting to see that downside action on price... Been waiting for this some 36 days now. Lets see if we can get it a lil bit lower before the reverse upside comes in. Targeting around 20-21k.
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BTC continues to fall- looks like the right call after all. Not a popular one, but the correct one. Please recall this TA was originally posted in late March 2023.Roughly 60 days ago. LETS GO!!!
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The timing is a little off but we can work thru that a bit. As things develop I will update this but I have a feeling the rebound back up may make up for the lag.
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The peaks and valleys of this TA have not manifested.. so we churn in the middle.
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BTC continues to hold a strong level of support at 25.5k.
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The fact the lows have not come in is a good sign- despite everyone getting impatient and talking about the demise of BTC. Lets see what develops when it exists the gann box.
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BTC is approaching the edge of the Gann box over the next 2 weeks due to the scale of the chart, and this typically signals a move up or down in a drastic manner. Ill just stay tuned for this. My harmonics signal a move up to 37.5k- 38k.
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28.3k is resistance.. once price gets thru this.. its going to look nice!
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BTC showing the spark of exiting the Gann Box. Good pump today to 30k... The shoter term analysis shows further upward movement. If I have time Ill post the short time frame harmonics. Same target is in play. So much support at 25.5k and when we see the bouncing action off that point.. this is a good signal.
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Excellent push on BTC as expected when exiting the Gann Box. Nice!
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We have liftoff!
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BTC could be facing a massive bull trap at the moment.
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BTC ETF approval granted. Please be careful as this could be a SELL THE NEWS event.
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False Alarm.. SEC holding out till the 10th lol. The @SECGov X account was compromised, and an unauthorized post was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.
"Excellent push on BTC as expected when exiting the Gann Box. Nice!" it's fake breakout friend, we will see a correction or some dumps.
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Great explanation)
mnaushad
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Will it break 28.3?
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@mnaushad,Ill put it this way (long fashion). This chart was posted Mar 24, and created earlier than that. It enabled me to buy at the low and ride this far. This chart is principled on Gann technique and per WD Gann... when price and time square there is a shift in overall trend. The trend since April was sideways. Once the upper box limit is reached this is the point when price and time square and trend changes. In this case I also use harmonics and the harmonic I have charted (not seen here) is extremely bullish. A warning however. The limit on this box is 35.8 (low) and extreme limit 37.5k (high)... after this has been reached expect the momentum to shift and change and we go into crypto winter for awhile. The move (when it happens) is going to be very dramatic and fast. So fast many wont be able to get in, and by the time they do.. the price is going to pull back. So ... in short form- YES price will def break 28.3k IMO.