BTC (Y20.P2.E7).Macro.Bottom Formation.Fractal?
Hi All,
Looking at the daily chart from a number of prisms.
a) Support levels
b) Fib levels
c) Moving Averages
d) Fractal's, more specifically triangle formations on the bottom
As you can see on the chart, I have aligned both the daily RSI with the Daily price action.
What I noticed is the RSI has agreement with the 123 impulses.
Note: The ABCDE triangle appears all over the BTC chart, both in macro and micro levels.
I have this triangle with two scenarios, where C can be below A or above A.
I do believe point B will be slightly lower that the previous high, somewhere in the range from 9700 to 9850.
We don't have much of the clues of the structure but going with the fractal of the past, we are having an TA assumption.
Obviously we need to watch the RSI to start refining the structure that is taking place.
Moving averages:
========================================
The Weekly 200 and 300 EMA playing support and resistance.
Now that we are above the 200 EMA, I believe it will continue to play support
The 21 and 100 EMA are converging to create a strong resistance
Also note that the trend line from the macro channel is also playing resistances and hence why I believe in this area, there will be a rejection and we will be headed to C on the above chart.
TIP: Trade with the 30 min chart and its trend
I hope these charts give you some ideas.
Please give me a tick or a like for your appreciation.
Cheers,
S.Sari
Previous MACRO Structure Post
Looking at the daily chart from a number of prisms.
a) Support levels
b) Fib levels
c) Moving Averages
d) Fractal's, more specifically triangle formations on the bottom
As you can see on the chart, I have aligned both the daily RSI with the Daily price action.
What I noticed is the RSI has agreement with the 123 impulses.
Note: The ABCDE triangle appears all over the BTC chart, both in macro and micro levels.
I have this triangle with two scenarios, where C can be below A or above A.
I do believe point B will be slightly lower that the previous high, somewhere in the range from 9700 to 9850.
We don't have much of the clues of the structure but going with the fractal of the past, we are having an TA assumption.
Obviously we need to watch the RSI to start refining the structure that is taking place.
Moving averages:
========================================
The Weekly 200 and 300 EMA playing support and resistance.
Now that we are above the 200 EMA, I believe it will continue to play support
The 21 and 100 EMA are converging to create a strong resistance
Also note that the trend line from the macro channel is also playing resistances and hence why I believe in this area, there will be a rejection and we will be headed to C on the above chart.
TIP: Trade with the 30 min chart and its trend
I hope these charts give you some ideas.
Please give me a tick or a like for your appreciation.
Cheers,
S.Sari
Previous MACRO Structure Post
Comment:
Critical point, and I should include the bearish scenario
Comment:
BTC dominance has a bit more to go (up)
Comment:
This trend line is holding things up
Comment:
My constant checking over these 4 charts. For now, watching the 4 and 6 hrly to see if the 21 EMA holds it up
Comment:
Comment:
placed the wrong updated chart
Comment:
Next micro formation and how it fits into the big structure
Comment:
updated micro chart
Comment:
Comment:
Trade closed: stop reached:
Macro chart updated based on latest data:
Comment:
Comment:
Updating my hypothesis
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.