Dear friends,
Continuing intraday forecasts.
Bitcoin continues to move in a narrow trading channel 9000 - 9400 USD
At the moment, the distribution of TF is as follows:
If we expand the direction of the Thomas DeMark trend by TF, then at the moment we get the following local trends:
Week is bearish
Day is bullish
4 hours - bearish
In general, the situation in the market has not changed since yesterday.
After having designated the price range by days for 15 minutes, I discovered the likely formation of a fractal:
While this model is at the hypothesis level, but in general, mirror fractals on Bitcoin are a reasonably frequent phenomenon. From technical analysis, a similar outcome of events seems appropriate.
Returning to the forecast within the day today, then at the moment we can safely state two forces acting on the market:
1. Strong support around 9000 USD
2. The local bearish mood of the crowd
Therefore, the two scenarios are showing today:
1. A more priority scenario at the moment - the market is moving within the descending, intraday bear channel with a retest of the lower wall of the large channel - 9000 with a possible exit in the form of a shadow to the 8900 area (red arrows)
2. The market continues to be in the range of the last day with an attempt to return to the highs of yesterday's candle at 9362 USD
As I said, playing from a support level of 9000 is very risky. Do not forget that the exchange does not do charity work, and when the majority starts playing this game, a strait will happen.
Considering the number of zone retests of about 9000, the probability of a strait below this level of support is extremely high today.
Good luck to everyone and good profits!
Respectfully,
Michael @Hypov
=================================================== ======
Like and subscribe if you liked the material.
I will be glad to any message.
Thank you very much.
Everyone GTI.
Friends, I remind you that this is only my personal view of the market, which I share with you. I do not guarantee profits. Only you make the final decision and all the risks associated with it.
Continuing intraday forecasts.
Bitcoin continues to move in a narrow trading channel 9000 - 9400 USD
At the moment, the distribution of TF is as follows:
If we expand the direction of the Thomas DeMark trend by TF, then at the moment we get the following local trends:
Week is bearish
Day is bullish
4 hours - bearish
In general, the situation in the market has not changed since yesterday.
After having designated the price range by days for 15 minutes, I discovered the likely formation of a fractal:
While this model is at the hypothesis level, but in general, mirror fractals on Bitcoin are a reasonably frequent phenomenon. From technical analysis, a similar outcome of events seems appropriate.
Returning to the forecast within the day today, then at the moment we can safely state two forces acting on the market:
1. Strong support around 9000 USD
2. The local bearish mood of the crowd
Therefore, the two scenarios are showing today:
1. A more priority scenario at the moment - the market is moving within the descending, intraday bear channel with a retest of the lower wall of the large channel - 9000 with a possible exit in the form of a shadow to the 8900 area (red arrows)
2. The market continues to be in the range of the last day with an attempt to return to the highs of yesterday's candle at 9362 USD
As I said, playing from a support level of 9000 is very risky. Do not forget that the exchange does not do charity work, and when the majority starts playing this game, a strait will happen.
Considering the number of zone retests of about 9000, the probability of a strait below this level of support is extremely high today.
Good luck to everyone and good profits!
Respectfully,
Michael @Hypov
=================================================== ======
Like and subscribe if you liked the material.
I will be glad to any message.
Thank you very much.
Everyone GTI.
Friends, I remind you that this is only my personal view of the market, which I share with you. I do not guarantee profits. Only you make the final decision and all the risks associated with it.
About Me and My life
ovalapp.bio/michael
ovalapp.bio/michael
