wuuut wuut wuut The charts have been preparing us for this moment, but a lot of people didnt see it coming. They got blinded by laser eyes and attachment to the one Single individual Elon as a savior of this crypto space. Holy cow, now most of the over leveraged people are recket, reason why technical analysis is always better.
Today`s analysis will show the signs that led to the plunge of BTC and no excuses of Elon tweets. Lets deep dive and analyze.
BTC has topped at 64k with a kinda rounding top but there were a lot of topping formation around the 55K to 64K range. As you can see on the chart not only the rounding top was a warning sign but also a H&S formation was in a making and you know what happens when the neckline is broken. This classic TA not stories no crying.
On a micro level, you can see a small channel which was the last hope for BTC to go up to the 60K and potentially above to the 70k, but as you can see it was broken and since then what a juicy short position. All the way from the 54k to the 43k.
At the moment we are at the cross rod, the chart doesn't look bullish but also there is a strong support in the region of 40 to 42K, notice a confluence of the 200MA in that area which can act as a temporary support. If that zone breaks I see next target around the 37K which if broken 30k may present itself as BTC savior for the time being before a plunge to the 20K.
To my followers, I have not been posting recently as the stock market has been full of choppy setups, I am looking for better setups to share with you in next few weeks. At the moment I am more focused on crypto as I find many trade setups. I will be sharing many more ideas on different tokens.
If you like this TA, please put a thumbs up and share it with your friend, your community on tweeter, instagram,tiktok, everywhere.
Be safe and have profitable trades.
Cheers,
XTF
Today`s analysis will show the signs that led to the plunge of BTC and no excuses of Elon tweets. Lets deep dive and analyze.
BTC has topped at 64k with a kinda rounding top but there were a lot of topping formation around the 55K to 64K range. As you can see on the chart not only the rounding top was a warning sign but also a H&S formation was in a making and you know what happens when the neckline is broken. This classic TA not stories no crying.
On a micro level, you can see a small channel which was the last hope for BTC to go up to the 60K and potentially above to the 70k, but as you can see it was broken and since then what a juicy short position. All the way from the 54k to the 43k.
At the moment we are at the cross rod, the chart doesn't look bullish but also there is a strong support in the region of 40 to 42K, notice a confluence of the 200MA in that area which can act as a temporary support. If that zone breaks I see next target around the 37K which if broken 30k may present itself as BTC savior for the time being before a plunge to the 20K.
To my followers, I have not been posting recently as the stock market has been full of choppy setups, I am looking for better setups to share with you in next few weeks. At the moment I am more focused on crypto as I find many trade setups. I will be sharing many more ideas on different tokens.
If you like this TA, please put a thumbs up and share it with your friend, your community on tweeter, instagram,tiktok, everywhere.
Be safe and have profitable trades.
Cheers,
XTF