Good morning guys,
today we are having a very simple look at what´s been happening without drawing a single line or zone.
Fact 1: We have talked about the bearish descending triangle with the Quarterly Pivot as Support and been saying this has better odds to break down than up and it´s anything else than a bullish formation.
Fact 2: For those who know me well enough: the 3D-interval (my absolute fav) is essential looking at the Ichimoku cloud, Bitcoin has tested the P-Q once more whilst diving into the cloud and failed to bounce, this was the final hint.
Fact 3: The Yearly Pivot plus the support through the cloud has been clear target of this major move.
What happens next?
Assuming we ignore BAKKT, the Yearly Pivot is key, right now we could accumulate here and once more find support exactly at this price level (couple of hundreds of $ swings within). Asking myself how the odds are that we break down further doesn´t make sense right now, also a fact is, it would not be nice if we would as we might see levels as low as 5.4k-4k.
Without reversal signs, this is a an area that does not give away a direction and is, therefore, a classy no-trade-zone.
___________________________________________
Warm regards,
Neru
today we are having a very simple look at what´s been happening without drawing a single line or zone.
Fact 1: We have talked about the bearish descending triangle with the Quarterly Pivot as Support and been saying this has better odds to break down than up and it´s anything else than a bullish formation.
Fact 2: For those who know me well enough: the 3D-interval (my absolute fav) is essential looking at the Ichimoku cloud, Bitcoin has tested the P-Q once more whilst diving into the cloud and failed to bounce, this was the final hint.
Fact 3: The Yearly Pivot plus the support through the cloud has been clear target of this major move.
What happens next?
Assuming we ignore BAKKT, the Yearly Pivot is key, right now we could accumulate here and once more find support exactly at this price level (couple of hundreds of $ swings within). Asking myself how the odds are that we break down further doesn´t make sense right now, also a fact is, it would not be nice if we would as we might see levels as low as 5.4k-4k.
Without reversal signs, this is a an area that does not give away a direction and is, therefore, a classy no-trade-zone.
___________________________________________
Warm regards,
Neru
