Ladies and gentlemen, Bitcoin on the 4H timeframe—after that relatively sharp 10% drop—is now primed to kick off the second downtrend wave. Stick with me in this analysis to break down the overall conditions and nail the best scenarios together. 🧙♂️
📉Start with daily timeframe: Post-major dump and correction (more time-based than price, at 0.38% of prior wave), it looks like we're resuming the MWC downtrend. Key bearish confirmation: break of major support around 85k. Bearish momentum is way stronger now.
Volumes spike on drops, dip on uptrend corrections.
Bearish candles sharper, bigger size, shorter time for more downside + last two candles are weak AF, more like profit-taking than fresh buys.
If today's candle closes like this with higher volume, expect drop to 85k, then 83.400 for Bitcoin.
🔍Drop to 4H: After plunge to P.P 4 and time-based correction start, we formed a box—break of its support floor could resume the dump, so 88,636.85 break is our short trigger.
On the flip, with 90,356.19 break, no longs for me now—daily analysis makes it clear why.
85,845.83 is first bearish target, but do partial profits and take 'em—HWC is ranging, anything can pop off.
Volume surge at break is your best buddy, and final hint: Check BTC.D and altcoin BTC pairs as homework—might uncover correlations for quicker profits and higher win rate.
By the way, I’m Skeptic, founder of Skeptic Lab.
I focus on long-term performance through psychology, data-driven thinking, and tested processes.
Thanks for riding this idea—if it delivered value, hit that boost to keep the momentum rolling and follow to build the squad. Toss any symbol you want dissected in the comments, I'll handle it. 🩵
Now get outta here.
📉Start with daily timeframe: Post-major dump and correction (more time-based than price, at 0.38% of prior wave), it looks like we're resuming the MWC downtrend. Key bearish confirmation: break of major support around 85k. Bearish momentum is way stronger now.
Volumes spike on drops, dip on uptrend corrections.
Bearish candles sharper, bigger size, shorter time for more downside + last two candles are weak AF, more like profit-taking than fresh buys.
If today's candle closes like this with higher volume, expect drop to 85k, then 83.400 for Bitcoin.
🔍Drop to 4H: After plunge to P.P 4 and time-based correction start, we formed a box—break of its support floor could resume the dump, so 88,636.85 break is our short trigger.
On the flip, with 90,356.19 break, no longs for me now—daily analysis makes it clear why.
85,845.83 is first bearish target, but do partial profits and take 'em—HWC is ranging, anything can pop off.
Volume surge at break is your best buddy, and final hint: Check BTC.D and altcoin BTC pairs as homework—might uncover correlations for quicker profits and higher win rate.
By the way, I’m Skeptic, founder of Skeptic Lab.
I focus on long-term performance through psychology, data-driven thinking, and tested processes.
Thanks for riding this idea—if it delivered value, hit that boost to keep the momentum rolling and follow to build the squad. Toss any symbol you want dissected in the comments, I'll handle it. 🩵
Now get outta here.
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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.
Related publications
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.