Hi All,
Continuing on from my previous post (target reached), the question is where from here.
At the macro level I stated 9950 in my previous post, Short term, there is no fluidity in the chart except in the short range. There is no defining trend to work off, which makes it more problematic.
So I'm relying on some indicators, to tell me the short term probability. Hence I see us going to 1 of 2 levels for the short term.
Either
a) 7250 -7300 range, which is half way of the micro channel or
b) The top of the channel which matches the key fib level and major resistance.
If you refer to my chart, it states that the trend line will be tested. This assumption has come from 2 points, the bump and run scenario which plays out many times in BTC and the other, its done this retest it the 2 bottoms
in the past. This might coincide with the bottom of this micro channel.
Refer to my previous post "BTC Macro Formation. Inverted BARR structure (Y20.P2.E11)"
When I look at the broader markets, the SPx500 has closed right under a key resistance and come Monday, it might drop (slowly or quickly) or just hold and go up. Very difficult to say.
Either way, I believe BTC will follow. This sort of reflects in my chart details, confluence or alignment with the broader markets.
So the question is, how far will BTC go this weekend?
When others know this as well, as well as the ALTs taking a big share of the capital away from BTC (btc dominance dropping). We might just end up hitting half way of the channel, $7250 range.
Obviously I'm hoping higher but that is unlikely in this weekend, knowing what the SPx500 situation is, others will do the same.
As for the indicators, they all give good momentum from 4 hrly to daily.
Let me plot the charts here and then come back with commentary.
Please give me a tick or a like for my efforts, etc.
Regards,
S.Sari
Referencing the detailed post on the MACRO level which explains where we are at and our current status in respect to that.
4 HRLY chart > price finding support on the ichimoku cloud and noting the twist of the tail, giving us another bullish indication.
Daily chart > Indicators look positive for the daily which basically says there is no imminent big drop in the making, if anything, the daily shows we have momentum on the upside.
noting the twist of the tail, giving us another bullish indication.
Fib. channel and fib. circle perspective
Continuing on from my previous post (target reached), the question is where from here.
At the macro level I stated 9950 in my previous post, Short term, there is no fluidity in the chart except in the short range. There is no defining trend to work off, which makes it more problematic.
So I'm relying on some indicators, to tell me the short term probability. Hence I see us going to 1 of 2 levels for the short term.
Either
a) 7250 -7300 range, which is half way of the micro channel or
b) The top of the channel which matches the key fib level and major resistance.
If you refer to my chart, it states that the trend line will be tested. This assumption has come from 2 points, the bump and run scenario which plays out many times in BTC and the other, its done this retest it the 2 bottoms
in the past. This might coincide with the bottom of this micro channel.
Refer to my previous post "BTC Macro Formation. Inverted BARR structure (Y20.P2.E11)"
When I look at the broader markets, the SPx500 has closed right under a key resistance and come Monday, it might drop (slowly or quickly) or just hold and go up. Very difficult to say.
Either way, I believe BTC will follow. This sort of reflects in my chart details, confluence or alignment with the broader markets.
So the question is, how far will BTC go this weekend?
When others know this as well, as well as the ALTs taking a big share of the capital away from BTC (btc dominance dropping). We might just end up hitting half way of the channel, $7250 range.
Obviously I'm hoping higher but that is unlikely in this weekend, knowing what the SPx500 situation is, others will do the same.
As for the indicators, they all give good momentum from 4 hrly to daily.
Let me plot the charts here and then come back with commentary.
Please give me a tick or a like for my efforts, etc.
Regards,
S.Sari
Referencing the detailed post on the MACRO level which explains where we are at and our current status in respect to that.
4 HRLY chart > price finding support on the ichimoku cloud and noting the twist of the tail, giving us another bullish indication.
Daily chart > Indicators look positive for the daily which basically says there is no imminent big drop in the making, if anything, the daily shows we have momentum on the upside.
noting the twist of the tail, giving us another bullish indication.
Fib. channel and fib. circle perspective
Comment:
These fib. circles are doing their job
Comment:
4 HRLY chart still bullish
Comment:
BTC on the daily still looking good
Comment:
Refined my charts, tweaked.
Comment:
Comment:
RSI line compremised and hence going lower. I see the next 2 levels coming into play.
6950 but more likely the lead in trend line, which is roughly in the 6800s
6950 but more likely the lead in trend line, which is roughly in the 6800s
Comment:
Continue to watch this 4 Hrly space. As you can see, once it broke the RSI trend line for uptrend, price dropped. Now its found (corrected the bearish div.) the next level of support on the 4hrly
Comment:
I think its time to buy.
Comment:
Current status with the throwback trend line
Discord: TradeToProspa
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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.