cybernetwork

Big move incoming soon. Bullish biased, after recent fake-down.

Long
cybernetwork Updated   
BITSTAMP:BTCUSD   Bitcoin
Presently continuously monitoring this chart atm as the candles approaches the end of the sym-triangle. Need to wait for a break out and retest for confirmation.

Presently more bullish-biased after the recent fake-down with a strong rebound back into the triangle.
Comment:
On the 4-hourly:
Comment:
NOTE: Short-term bullish-bias completely erased if BTC falls below ca. 18.2k USD
Comment:
Comment:
Comment:
Potential trade that I am looking out for once BTC breaks and retests the 20kUSD level:
Comment:
Broken below the triangle:
Comment:
BTC broken above the 20kUSD level, retested and found support!
Comment:
Daily Chart

Next, BTC will need to puncture and find support above the red 100 SMA line before a possible continuation upwards:

The orange/grey line above is the 200 SMA.
Comment:
Bouncing off the 20k USD resistance turned support!
Trade closed: stop reached:
FTX black swan event dump.
Stop-loss hit.
Comment:
Comment:
BTC will need to pierce above the red 21EMA and the red yellow resistance line for it to turn possibly short-term bullish again after the recent black-swan event:

Comment:
BTC will now probably break the 78.6% level (FIB levels defined from the ATH and the bottom of the previous cycle). And if it does, the next support is the golden pocket at around 13.3-13.8k USD.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.