BTC managed to pump towards the 43k level but could't sustain the growth. This pullback was imminent with all those bullish charts being shared in the community. Late longs are trapped and it's time late shorts to be trapped too. Once it happens BTC will be ready for the rally. So far the point for bounce still remains the lower trendline support. 38.5k (wick to liquidated late longs) to $39,3k level. As long as the channel holds Bulls are in control in LTF. Some fractals plotted in the chart , do observe!
Invalidation:- Close below the red line ($36,629)
Let me know what you think.
If my charts help you in any way please do hit the like button and share your views in the comment section.
Thank you
#PEACE
Trade active
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On support, can POTENTIALLY WICK to the downside to liquidate the late longs and trap the late shorts. Still valid and on track.
Trade active
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#BTC :- Possibly a Liquidation wick is incoming, be careful if you are holding long positions on leverage. Bulls are likely to get a nice long entry around 37.5k to 38.5k.
Bull flag forming on 1m timeframe... 5m and 1m indicators looking promising... this could be the bounce. (and it failed, lol... guess we need to wait a bit more :) )
MohamedBenMansour
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i think btc is going to 28k
Gunslinger2005
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i think you over estimate the impact trading view charts have on the market. truth is they do not give a damn about them dude. when assets are in macro up or down trend you see masses of charts all agreeing with price action and the asset continues to move that very direction. the POINT is not these charts on TV... it is that btc is and has been in a year long consolidation. so what you think is market moving agaisnt those charts is actually just market ranging while lots of people who do not know how to trade those ranges posting charts looking for continuation despite its year long consolidation. Summary.. market does not give a damn about these charts... these chartists just do not get how to trade a ranging market
CoreCrypto1
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@Gunslinger2005, And no one gives a damn about what you think. Stop shitting on other people's works.
CRYPTOMOJO_TA
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@Gunslinger2005, At least he is trying to give some back to the community. many people learned a lot of stuff from him.
CryptoSanders9563
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What do you mean buddy? Should we stop posting charts?
CryptoSanders9563
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@Gunslinger2005 What do you mean buddy? Should we stop posting charts?
StaroftheElliot
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Thanks for sharing your idea Please see my idea by Elliot wave analysis Have a good trade