Helical_Trades

BTC/USD : Still aiming 27K, But why ?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
COINBASE:BTCUSD
Hello everyone πŸ˜ƒ

Sorry for low activity on past days !
Actually I thought that there's no need to update my analyze..
Any way, The last analysis played out goodly.

Now, BTC just engulfed an important line on hourly TF and it just break above the H12's zone, Now bulls needs to wait for a daily close to confirm the break on classic vision.
Then we'll see another leg up to our favorite SHORT zone at 42K, And then I will try one more to take advantage with a SHORT above 40K with tight SL above 43K...

πŸ“Š Before heading to the analyzes, There are some few data that could be useful for day traders and scalpers.
- BTC 24H's change is positive by +1.5K lead and it's bad for bulls
- BTC's funding rate is mostly positive and it's not suggesting the continuation for bulls
- BTC's open interest has suggest a little decline and it means that manual traders with low capacity are closing their positions ( But the interest is still showing goodly positive )
- BTC's Long-Short Ratio is showing green on every exchanges and it can be the reason that the volume didn't grow with the movement !

Now there are some possible scenarios among ours, So I will share them too !

πŸ”° Dive below 25K after a fast retest on 27K :
It sounds like a stop hunt above the resistances and the bearish trendline ; And so it's a possible chance for market makers !
Cause,
- Volatility has reached the buy limit zone in LTF and it just being limited by some of the HTFs neither.
- Volume is not suggesting a strong breakout and so it can become failed again ( Like other fake-outs that we had recently )
- BTC just reached the 0.5 FIB's level and there's a resistance zone which has formed in daily TF.

πŸ“š Sellers can use this chance to take advantage on BTC's dive, If it's being confirmed by market's weakness.

πŸ”° Daily Demand is suggesting a continuation to 42K, And there can be a chance for bulls to break the level :
Based on classical analysis, We need to retest 27K ;
So the breakout above 42K is not in my possible scenarios for now, But I will buy above 43K for sure, If BTC breaks the breaker level !
Now, If BTC breaks the breaker, Then scenario will change the aimed target to ~55K.
ATH won't be a good target for Holders cause it can't be happen without a retest on classical chart on 27K , At-least I won't count it for now...
So everything is simple on Daily TF, Buy at demand zone and wait for 42K retest.
❗ Be caution of the possible stop-hunt at current point !


πŸ”° Bull-Run is not over yet, Here is why :
3M's chart is showing a chance for an order block here, And it's all depends on next 3M's candle !
How ever we can count on the next one, And it will be a 4 candles continuation order block.

Now, Holders need to watch the levels and don't forget that there's still a possibility for bears to push the pair below 30K.
I'm ok with that, Cause I'm still searching for the possible stop-hunt below there !
You may say that I missed the opportunity to enter the market, But we had 3 of them and It's good at all...

Back to our scenario : AS BTC is above 27K on classical level, we'll aim the ATH and 100K as the main targets, But It needs to retest the level's bottom for farther growth.
FIB's retracement on 3M's TF; $26361 is the possible level for a retest.
And the targets are ~160K and ~210K. But I will set a safe target at ATH and 100K.

πŸ“š Fair setup for holders :
So the entry will be ~27K.
SL is a daily close below 27K .
And the targets are 45K - 64K - 100K - 160K - 210K.

Have a great night and trades πŸ₯‚βœ¨
I will share another chart for BTC if anything changes !

Hope you enjoyed our analysis about BTC's possible directionsπŸ™Œ
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Also you can share your opinion with us in comments πŸ˜‰πŸ™‹πŸΌβ€β™‚οΈ

Attention: this isn't financial advice we are just trying to help people on their own vision.

Have a good day!
@Helical_Trades
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Comments

Happy to see a serious analysis.

During the whole downtrend, 80%+ of analysis published here kept predicting imminent breakouts.
+2 Reply
Helical_Trades ButterDickinson
@ButterDickinson, Thanks for your warm supportive comment !
Hope we can serve more and more...
Reply
I'm looking at a possible true bottom around 15k, everyone says it's impossible but look at February 2018 MA crossings as well as October 2019, any news can trigger it, covid related, tether related, be on the look out, a retest around 200 ma on the daily as a possible breakout doesn't really confirm anything, if anything it's a great short squeeze, we need close above 200d ma on the daily to confirm bullrun continues, double bottom 27k second retest and possible crash around August/September, again be on the lookout and thanks so much for sharing your insights, liked.
+2 Reply
@axelrodd, Great aiming !
Let see if we done this repetition again..
Keep up the good work dear.
+1 Reply
axelrodd Helical_Trades
@Helical_Trades, so far the wyckoff on the daily looks great, big bounce starting in 2 hours, follow me on twitter, madeinjapan2009
Reply
I still think in a few months we’ll buy btc for 15-17K. We’ll see! Nice work! We’ll done..
+2 Reply
@xrgeotatm, For sure !
But it needs to close below 27K first..
Reply
Very great analysis. Thanks
+1 Reply
Helical_Trades TradingAxis
@TradingAxis, Thanks my dear mate ;D
Reply
Deep Insight !! Fruitful Info !! A Valuable Analysis !!
+1 Reply