COINBASE:BTCUSD   Bitcoin / U.S. Dollar
btc bullish divergence at the pcz of a bullish cypher harmonic which is also a critical support/resistance . Backtested 47k after reaction on hourly and 4 hourly, then bullishly engulfed to break the downtrend. insane confluence.

Daily bullish engulfing candle close today confirms a retest of 55-60k range. then, ath .


With no volume on the uptrend, riiiiiiight keep dreaming bud.
+1 Reply
@bed87 based on the on-chain data, can you think of any good reason why both the dip and a recovery wave would both be scarce on volume?

I can, but I want my "bud" to tell me.
bed87 commonretrace
@commonretrace, yes it means it’s BS and a temporary up green candle, then back to being on a downtrend...
@bed87, bull trap?
@bed87 maybe you're right. but also, maybe I'm right. Nah mean?
@bed87 just breached 55k...

how long does a "temporary" green candle in a "downtrend" have to go before you eat your words?
I don't get it, what is the support and what is the resistance level now? Can you explaine please? Thanks!