HEY! READ THIS! If you wanna know what's going on that is of course. But let's dive in to Bitcoin's reversal and why this could be it.
Technical:
On the technical we're still down on the FIb retracement and have been trading relatively sideways on the minute chart but we are still within that descending pattern I noted and the trading activity is looking oddly similar to January. If we exit that pattern which it looks like we are already doing on the 5 minute chart then I am bullish on a breakout, it may not be a huge break out honestly, but you know how technical traders are and sometimes the market will simply take what it can get. Technical we are also about to exit the descending pattern we've been in since this drop that I have marked out below.
JANUARY REPEAT!
This just looks in general like it's setting up to be a repeat like what we saw in January with it's dramatic fall being followed by this shift in reversal and things suddenly turning bullish and looking healthy again especially with how jagged the markets been. I know the market didn't just cave in on itself out of nowhere. We didn't have any dramatic or necessarily bad news that would affect something to that point. This was the Whales and the Makers. And just as they sold. They will buy back up. They may love selling their Bitcoin right now. But at the end of the day, they only do this to buy more. I was there and am happy to say I was there when Bitcoin had it's true reversal point in January and it's funny. When that started I barely knew a thing about analysis. And now here we are. It's still the start basically but wow. It's gonna be a great journey I just know.
UKRAINE!
Another significant boost to things has been Ukraine's sinking of Russia's flagship 'Moskva' which as now is being reported, was possible thanks to U.S Intel. The Moskva' sunk on April 14th however the news of U.S Intel is a significant bolster in optimism and sort of gives the market a kinda jolt at times where it could really use one. The news is relatively new with most reports being a few hours old have specifically noted that U.S provided Intelligence. That itself could perhaps begin/signal a shift in the tide of things as ideas are shifting day by day with regards to public sentiment on just how the war is looking or could turn out, especially being the fact that the U.S is taking a more significant role in the fight alongside the bloc and Germany sending support essentials from weapons and vehicles, etc. Basically they are getting a lot of support from everyone and that support is beginning to show now.
However that still doesn't mean the fight is done. Ukraine will never give in to Russia and without a doubt I know they are giving it all they have, but we can't stop with the support for them as they give it their all each and every single day.
Reversal
This is the reversal point I believe. We've seen this pattern time after time literally three times already in the past Quarter on Bitcoin's chart. If we fall through the wedge and can't keep above 35,500 then I do see things being short and us falling instead still staying within the 'pattern'. However, we've seen how the markets been and market makers have done things time after time to manipulate the market. One way or another we're going back up. Perhaps this may not be the true or perfect reversal point I'm calling but on Bitcoin's chart when we look back at this. We're gonna see just how close we were to the center of that. Or perhaps even, be the center itself on behalf of a huge chart that'll represent just how strong crypto is and what it will represent.
🍄
Thank you for taking the time to join today and have an absolutely wonderful and great day! Feel free to share or even follow if you'd like! Always appreciate it and do my best with these, and not only that, but with each and every single idea I only improve. Go on and have an absolutely great weekend!
~ Rock
Technical:
On the technical we're still down on the FIb retracement and have been trading relatively sideways on the minute chart but we are still within that descending pattern I noted and the trading activity is looking oddly similar to January. If we exit that pattern which it looks like we are already doing on the 5 minute chart then I am bullish on a breakout, it may not be a huge break out honestly, but you know how technical traders are and sometimes the market will simply take what it can get. Technical we are also about to exit the descending pattern we've been in since this drop that I have marked out below.
JANUARY REPEAT!
This just looks in general like it's setting up to be a repeat like what we saw in January with it's dramatic fall being followed by this shift in reversal and things suddenly turning bullish and looking healthy again especially with how jagged the markets been. I know the market didn't just cave in on itself out of nowhere. We didn't have any dramatic or necessarily bad news that would affect something to that point. This was the Whales and the Makers. And just as they sold. They will buy back up. They may love selling their Bitcoin right now. But at the end of the day, they only do this to buy more. I was there and am happy to say I was there when Bitcoin had it's true reversal point in January and it's funny. When that started I barely knew a thing about analysis. And now here we are. It's still the start basically but wow. It's gonna be a great journey I just know.
UKRAINE!
Another significant boost to things has been Ukraine's sinking of Russia's flagship 'Moskva' which as now is being reported, was possible thanks to U.S Intel. The Moskva' sunk on April 14th however the news of U.S Intel is a significant bolster in optimism and sort of gives the market a kinda jolt at times where it could really use one. The news is relatively new with most reports being a few hours old have specifically noted that U.S provided Intelligence. That itself could perhaps begin/signal a shift in the tide of things as ideas are shifting day by day with regards to public sentiment on just how the war is looking or could turn out, especially being the fact that the U.S is taking a more significant role in the fight alongside the bloc and Germany sending support essentials from weapons and vehicles, etc. Basically they are getting a lot of support from everyone and that support is beginning to show now.
However that still doesn't mean the fight is done. Ukraine will never give in to Russia and without a doubt I know they are giving it all they have, but we can't stop with the support for them as they give it their all each and every single day.
Reversal
This is the reversal point I believe. We've seen this pattern time after time literally three times already in the past Quarter on Bitcoin's chart. If we fall through the wedge and can't keep above 35,500 then I do see things being short and us falling instead still staying within the 'pattern'. However, we've seen how the markets been and market makers have done things time after time to manipulate the market. One way or another we're going back up. Perhaps this may not be the true or perfect reversal point I'm calling but on Bitcoin's chart when we look back at this. We're gonna see just how close we were to the center of that. Or perhaps even, be the center itself on behalf of a huge chart that'll represent just how strong crypto is and what it will represent.
🍄
Thank you for taking the time to join today and have an absolutely wonderful and great day! Feel free to share or even follow if you'd like! Always appreciate it and do my best with these, and not only that, but with each and every single idea I only improve. Go on and have an absolutely great weekend!
~ Rock
