- #Bitcoin's Uptrend still intact in terms of Price Action, coming from the Lows of 15K . Concerning is the fact that despite Bitcoin trending Bullish on regards of Market Structure (series of HH & HL ) ; it is trending so, within a Rising Channel (i.e bearish flag).
Ahead of this current uptrend is the Golden Zone Fibbonaci Level awaited to be faced as Resistance in the midst of a Critical S/R Zone. Both of this targets should be flipped from Resistance to Support(retested) in order for Bitcoin to be headed higher, to trigger the price interest at 50k-65k ; W(tf) *OB a (see the updated idea attached below)
Until further confirmations, CRYPTOCAP:BTC is likely to be headed to at least 35.000$ in the short term time frame. Key S/R and Golden Zone may very well be the next stoping point to open shorts
TRADE SAFE *** Note that this is not Financial Advice ! Please do your own research and consult your Financial Advisor before partaking on any trading activity based solely on this Idea.
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CRYPTOCAP:BTC - Struggle Continues - On the verge of break-down confirmation (*W close needed)
(line chart log.) Pattern Break down , week two (candlesticks version log.)
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- Another Bearish Perspective pre-Halvening , from Bearish Flag (The Struggle Continues Idea) to Rising Wedge .
In case Rising Wedge (bearish patterns) plays out, looking ahead for Short Entries to a 40% measured move down. Not only, but aswell a strong Spot Buy Opportunity for cheaper SATS accumulation and ALTS bags.
TRADE SAFE ! *** Note that this is not Financial Advice ! Please do your own Research and consult your own Financial Advisor before partaking on any trading activity based solely on this Idea
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CRYPTOCAP:BTC will be closing this Week resting on 200EMA on *W (tf) Will 200EMA act as dynamic support and boucne the price a little higher ? Or the Feds Jackson Hole speech today has already taken 200EMA as a joke support ? Note that 200 EMA is used by lots of algorithms (big money) As well lots of retailers. It's not smart to trade baseed solely on it as an indicator .