Hey!
We had a pretty accurate estimation of the path ahead. We had a touch on 10,5k as anticipated and now making the awaited correction to right shoulder. This was necessary and we really should take this as the most healthy signal BTC could have done.
Some good pointers to glare at while BTC is slowly making its retrace:
MACD printed the (much talked about) golden cross on the daily chart, which ultimately is a very good sign for more upwards movement in the near future.
RSI neither went too overbought nor oversold on the way up and now down, and is most likely talking a bounce of the red trend-line indicated on the RSI chart.
Ichimoku cloud has turned bright blue which should make us feel very sunny and bullish for the coming time. It will work as support if the shoulder drops to 8k numbers, but at the moment we should remain calm and just watch the price action cool down.
Volume seems fine and overall nothing special to note.
We are bullish, we are waiting to enter long, or averaging in right now.
All the best.
-B
We had a pretty accurate estimation of the path ahead. We had a touch on 10,5k as anticipated and now making the awaited correction to right shoulder. This was necessary and we really should take this as the most healthy signal BTC could have done.
Some good pointers to glare at while BTC is slowly making its retrace:
MACD printed the (much talked about) golden cross on the daily chart, which ultimately is a very good sign for more upwards movement in the near future.
RSI neither went too overbought nor oversold on the way up and now down, and is most likely talking a bounce of the red trend-line indicated on the RSI chart.
Ichimoku cloud has turned bright blue which should make us feel very sunny and bullish for the coming time. It will work as support if the shoulder drops to 8k numbers, but at the moment we should remain calm and just watch the price action cool down.
Volume seems fine and overall nothing special to note.
We are bullish, we are waiting to enter long, or averaging in right now.
All the best.
-B
Comment:
This could be a cup and handle (right shoulder). We need to keep and eye on the channel bottom support, if this holds, we could see a very tiny and bullish right shoulder.
Trade active:
Comment:
No small right shoulder, no shock there. Following the main TA still.
We broke out of the rising channel and are now closing in on the right shoulder bottom target. Let's see how deep we go.
We broke out of the rising channel and are now closing in on the right shoulder bottom target. Let's see how deep we go.
Trade active:
Pretty satisfyingly according to TA. We can now start to get ready to get back in if out, and take another reasonable average buy at this point. It's not about buying a falling knife, but to actually acknowledging the support we just hit. On every support it's a good idea to average in.
Comment:
ichimoku cloud support coming around 8500, this will get exhausted pretty soon and it might bounce pretty rapidly back to 9k+.
Comment:
Here is the same chart as above but updated btc move
Comment:
We are in support land, and the 200MA is strongest of the supports, they all line up nicely to make the drop impossible for bears. At the bottom the ichimoku cloud is in all its bullish glory waiting to give the price a bounce back up if we would end up that deep.
Comment:
And a weekly chart to keep the chart simple and fresh. Nice support from the ichimoku on weekly, we could with little probability still drop down to 50MA at 8300, but that would most likely end up being a fast wick.
Trade active:
Comment:
Next target 9700.
Trade active:
Comment:
Comment:
4H chart shows very accurate similarity with the fractal (the right shoulder from 4k) I use here.
Trade active:
We are still following this projection:
Trade active:
Still accurate:
