BTC Update part 2
On the left the daily (ray of sunshine):
It would take an engulfing candle to make us think that we will go for the next formation. The previous candle had a high of $36835 , can we do this with Sunday volume? If we do manage to pull that off, that would be achievable most likely in the last part of the day, the target would than be somewhere around $41500 .
On the right , the weekly (seed of despair):
You can always draw a trend line on the weekly that can support your price, you just can . Is it confirmation bias? Is it just us wanting the price to burst back up?
Did you know that if we have another red candle of approx the same volume we will have a bearish EMA cross?
Now will that happen?
You see that 0.618 fib on the weekly? Being that it is on the weekly it means it is purely theoretical, also meaning that when the bears are shorting they are not looking at it that much, and it is close to another important psychological level, strong fib support on the 4h and daily charts , that is the $30k. It currently costs $30k to create a BTC, going to that level wouldn’t be that odd at all , at least test it.
The next week will show us the way , be it short or long we are prepared to do whatever it takes.
On the left the daily (ray of sunshine):
It would take an engulfing candle to make us think that we will go for the next formation. The previous candle had a high of $36835 , can we do this with Sunday volume? If we do manage to pull that off, that would be achievable most likely in the last part of the day, the target would than be somewhere around $41500 .
On the right , the weekly (seed of despair):
You can always draw a trend line on the weekly that can support your price, you just can . Is it confirmation bias? Is it just us wanting the price to burst back up?
Did you know that if we have another red candle of approx the same volume we will have a bearish EMA cross?
Now will that happen?
You see that 0.618 fib on the weekly? Being that it is on the weekly it means it is purely theoretical, also meaning that when the bears are shorting they are not looking at it that much, and it is close to another important psychological level, strong fib support on the 4h and daily charts , that is the $30k. It currently costs $30k to create a BTC, going to that level wouldn’t be that odd at all , at least test it.
The next week will show us the way , be it short or long we are prepared to do whatever it takes.
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