From the technical view:
1. From the Monthly perspective, price created a huge impulse to the upside without any retracement, we can expect a huge retracement to at least 38.2 FIB Retracement (Second Dot Line) on the monthly timeframe soon, since the market always move in waves instead of a straight line.
2. From the Weekly perspective, price was created a small impulse to the upside with a proper retracement, we can expect next impulse to the upside in the short-term.
3. From the Daily perspective, the price created a W pattern; we may expect a downside moment to the neckline of the W before the continuation to the upside as mentioned on the weekly view. On the other view, price may continue go up to complete the weekly impulse then only retest the neckline of the Daily W.
From the fundamental view:
1. Big players are bearish bias on the BTC .
2. In the new report, the long position of BTC was increased 744 and short position of BTC was increased 497; bringing the net position to -2,405 from -1,913, meaning that they are not interested to buying BTC , and start to shorting BTC .
3. Referring to new report, during BTC move to the upside, long and the short adding at the same time, and short is more than the long, implied that they are accumulation their short position in order to sell at the high.
4. Combining with TA and FA, BTC short term move to the upside, long term move to the downside for the Monthly 38.2 is expected.
How to approach BTCUSD?
1. Monitoring the daily timeframe to see whether is weekly impulse complete first or Daily neckline complete first. If Weekly Impulse complete first, then monitoring the lower timeframe, waiting for the market to shift to the bearish market from the bullish market, then targeting the Daily W neckline; if your rules of the strategy are fulfilled. Vice versa.
2. Just short at the moment is not a good idea, because everything in the lower timeframe is extremely bullish .
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on BTCUSD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.
1. From the Monthly perspective, price created a huge impulse to the upside without any retracement, we can expect a huge retracement to at least 38.2 FIB Retracement (Second Dot Line) on the monthly timeframe soon, since the market always move in waves instead of a straight line.
2. From the Weekly perspective, price was created a small impulse to the upside with a proper retracement, we can expect next impulse to the upside in the short-term.
3. From the Daily perspective, the price created a W pattern; we may expect a downside moment to the neckline of the W before the continuation to the upside as mentioned on the weekly view. On the other view, price may continue go up to complete the weekly impulse then only retest the neckline of the Daily W.
From the fundamental view:
1. Big players are bearish bias on the BTC .
2. In the new report, the long position of BTC was increased 744 and short position of BTC was increased 497; bringing the net position to -2,405 from -1,913, meaning that they are not interested to buying BTC , and start to shorting BTC .
3. Referring to new report, during BTC move to the upside, long and the short adding at the same time, and short is more than the long, implied that they are accumulation their short position in order to sell at the high.
4. Combining with TA and FA, BTC short term move to the upside, long term move to the downside for the Monthly 38.2 is expected.
How to approach BTCUSD?
1. Monitoring the daily timeframe to see whether is weekly impulse complete first or Daily neckline complete first. If Weekly Impulse complete first, then monitoring the lower timeframe, waiting for the market to shift to the bearish market from the bullish market, then targeting the Daily W neckline; if your rules of the strategy are fulfilled. Vice versa.
2. Just short at the moment is not a good idea, because everything in the lower timeframe is extremely bullish .
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on BTCUSD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.