A Note before reading - this is a forecast analysis - based upon our trading strategy. This is tagged Neutral for the short term. Long term, bullish, due to purchasing further increments upon imbalances. Please do not take this as face value and conduct the relevant investment strategy to successfully trade the probabilities.
Master Key for zones *Blue = Monthly *Purple = weekly *Red = 4 Days *Yellow = 16 Hours *Orange = Daily *Dark Green = 8 Hour *Grey = 4hour *Pink = 1 hour
Please see the previous chart idea to understand where price was heading
Monthly Imbalances Here are the latest imbalances for Bitcoin, where the point of interest had offered a weekly candle close from the peak high of $64,823.XX to $51,997.XX. This is a huge imbalance where price has offered a large change of hands to a critical price inefficiency. Sellers are now in control and created a low with a heavy drop where the weekly shows the rapid selling. This is due to the buying imbalance now changing to provide efficiency based up on the pivot point.
Weekly Imbalances On the weekly - price has now created a mid zone where the low of $28,200 zone, price has tested this but created upon the monthly - an opportunity of this low saw multiple retests - this offers a high opportunity for price to assess the direction. Price has now created multiple indecisions and a 50% to $41,300 offering a $13000 est range. The upper zone between $64,7XX to $56,XXX has strong weekly selling. Reviewing the candlesticks shows a clear sell opportunity, but awaiting confirmations would be to see lower lows created and the retest of the candle. See below*
See what happened from our previous analysis - From the $50,000, a trade hedge has been place to capture selling opportunities as price offered a opportunity to short term sell, but long term holding target - subject to pivot points. Trade is now in full profit and if stopped out, no losses will be incurred
Here is the Daily, since the previous analysis - please ensure you read to understand why this was taken.
Overall, yes the market is in a bullish structure using the inception and three month chart, conversely price will always return to the imbalance - when? This is the question.
BTC USD Bitcoin is still the overall leader within the movement of the Cryptocurrency world, and there is a large area of movement for price to close lower and lower into the territory where price will look to reverse at two options; highlight on the monthly zone. See below for the analysis to show that imbalances repeat themselves. The weekly has applications for lower lows, with a large amount of room to the imbalance to the downside. This is a fresh structural cycle - where price has and will move to this level.
BTC Line chart [weekly] Price has the opportunity to falsify a move to the upside.
BTC VS ETH USD As the two largest cryptos are both here and where the correlation of smaller alternative coins - the market is in "euphoria mode" but to prevent losing out. Paying attention to the critical levels highlighted below will assist. Where price breaks $2,000 on ETH "Rounded Psychological level", price will created a lower bearish channel formation - the opposite to
See the capitalization of the two correlated pairs with respect to Ethereum Based Link. Key Bitcoin - BTC - Blue Ethereum - ETH - Purple Link - LNK - White
See the secondary scale showing BTC price chart using the weekly to identify the zone to watch for.
Volume analysis Using the Daily chart - Here shows the tight range of buyers and sellers by volume. The largest zone has been heavy between the $38,000 to $32,000 range.
Current state, using volume analysis at the 50k
Previous 50k mark Notice the same change of hands?
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Thanks for sharing