It appears to me that the BTC chart is a little bearish in the shorter TF (daily and 4 hourly) a correction to the marked lower zones wouldn't surprise me at all, I even added a bunch of arrows to show a few things I think could happen. A little explainer, possibly this week will close red, next weekly candle tops at $25000 (could megapump to prove me wrong so look out there, BTC does that a lot) and then a correction to around $19000ish the week after. that's about as far as I can go for now before it gets too chaotic. I'll come back to this in two weeks to see how it goes, but by whatever pathway, expecting a correction to at least around $19000 soon.
This is how my forecast model shows the next 3 weeks anyway, there is always some rogue butterfly out there making their own rules.
Good luck, follow your own rules.
This is how my forecast model shows the next 3 weeks anyway, there is always some rogue butterfly out there making their own rules.
Good luck, follow your own rules.
Comment:
this week closed a little badly, so even though I won't be surprised by a little green candle this week, expect a retrace anytime in the next 10 days based on this chart, as long as BTC doesn't strongly break out above $25000, this remains my expectation for now. zones marked.
Trade closed: target reached:
went through the upper boundaries of this idea, just missed the lower zones, but got really close to $19000, a few % doesn't matter for BTC, you should be used to volatility by now. technically this is the target, the last two weekly candles are actually pretty bullish. nonetheless, it is Bitcoin, it will probably do some crazy move to destroy you. I will have to wait for some more patterns to perform, might just observe this for a while and get back to it, Tradingview probably has enough BTC charts anyway. get rich and grow old trying!