Hi Folks,
BTC is still evolving in a bear channel.
On last analysis, we were starting a new bullish trend (Countdown 1/13).
This bullish countdown has not yet been invalidated (2/13), however we are now in a more bearish posture: On August 28th, we triggered a sell signal with a red 2 closing below red 1 low.
BTC is now sitting on 2 supports:
- TDST Support Lines @9500 USD
- Bear channel middle line @9400 USD
If today or tomorrow price close below red candle 3 low (August 29th low), we could trigger a second sell signal and add to the first position.
Even if we are now advanced in the setup count (5/9), the breakdown of these 2 supports could smatch down the price to the lower line of the bear channel.
Otherwise, if the 2 supports holds, we could quickly price flipped and continue the bullish sequential countdown and form a bar 3/13.
I still favor the bull flag, but for now I prefer to remain neutral.
MATHR3E
Sequential indicators:
BTC is still evolving in a bear channel.
On last analysis, we were starting a new bullish trend (Countdown 1/13).
This bullish countdown has not yet been invalidated (2/13), however we are now in a more bearish posture: On August 28th, we triggered a sell signal with a red 2 closing below red 1 low.
BTC is now sitting on 2 supports:
- TDST Support Lines @9500 USD
- Bear channel middle line @9400 USD
If today or tomorrow price close below red candle 3 low (August 29th low), we could trigger a second sell signal and add to the first position.
Even if we are now advanced in the setup count (5/9), the breakdown of these 2 supports could smatch down the price to the lower line of the bear channel.
Otherwise, if the 2 supports holds, we could quickly price flipped and continue the bullish sequential countdown and form a bar 3/13.
I still favor the bull flag, but for now I prefer to remain neutral.
MATHR3E
Sequential indicators:
Comment:
4H S13 played out nicely:
Bulls could appear at this point. We are sitting on 2 supports as indicated in the previous analysis and 4H Chart now shows a possible exhaustion point with a sequential BUY Countdown (S13)