Hi All,
I have to admit, this chart is hard to read because one brings the emotion of the dump into the background with risk written all over it.
However when I look at the chart, its all bullish for me.
When I look at the Nas100 and SPx500, there is a big bullish divergence there as well, giving me the perception for the short period, we have more up's to go.
Hence if I stick to TA and factoring in the broader markets, in the short period, a week or less, we will have more highs to go, as per my chart.
Either 6500 or 7Ks
I do think 6400 to 6500 is a strong resistance and hence a pullback would be likely and as per my chart:
On the left, is the cradle area i'm watching to enter (the 1 hrly chart gives a better perspective, below)
On the right, the fib and structure formation + trend lines, I'm watching to enter
Looking at the right chart, one can see a bullish and bearish flag, so no idea which one it is.
I think looking at the MACRO level and the overall markets, we have not changed trend and hence this can just be a big bottom structure for BTC.
Hence why I will not be looking to go long, just buy the dips and raise the stop limits until I'm stopped out, with obvious targets to take profit, a %
1 HRLY and 4 HRLY chart > 5850 to 6000 looks like a nice area to enter
1 Day and 4 HRLY chart >
Daily still having 10 and 21 EMA resistance layer with MACD turning and Parabolic SAR indicator giving a bullish dot
4 HRLY Ichimoku resistance cloud so we can keep going sidewards
8 HRLY chart >
Previous support layer at 6400 to 6500 as a big obstacle and the ichomoku cloud confirms this as well
NAS100, SPx500 chart and Gold
Overall thoughts, chart is still bullish but resistance is near.
I feel it really depends on the other markets to allow BTC to go up for the short period or not.
The next 2 days will tell us about the momentum.
Please give me a tick or a like for your appreciation.
Maybe some of this will give you ideas on how to look at the bigger picture.
Regards,
S.Sari
I have to admit, this chart is hard to read because one brings the emotion of the dump into the background with risk written all over it.
However when I look at the chart, its all bullish for me.
When I look at the Nas100 and SPx500, there is a big bullish divergence there as well, giving me the perception for the short period, we have more up's to go.
Hence if I stick to TA and factoring in the broader markets, in the short period, a week or less, we will have more highs to go, as per my chart.
Either 6500 or 7Ks
I do think 6400 to 6500 is a strong resistance and hence a pullback would be likely and as per my chart:
On the left, is the cradle area i'm watching to enter (the 1 hrly chart gives a better perspective, below)
On the right, the fib and structure formation + trend lines, I'm watching to enter
Looking at the right chart, one can see a bullish and bearish flag, so no idea which one it is.
I think looking at the MACRO level and the overall markets, we have not changed trend and hence this can just be a big bottom structure for BTC.
Hence why I will not be looking to go long, just buy the dips and raise the stop limits until I'm stopped out, with obvious targets to take profit, a %
1 HRLY and 4 HRLY chart > 5850 to 6000 looks like a nice area to enter
1 Day and 4 HRLY chart >
Daily still having 10 and 21 EMA resistance layer with MACD turning and Parabolic SAR indicator giving a bullish dot
4 HRLY Ichimoku resistance cloud so we can keep going sidewards
8 HRLY chart >
Previous support layer at 6400 to 6500 as a big obstacle and the ichomoku cloud confirms this as well
NAS100, SPx500 chart and Gold
Overall thoughts, chart is still bullish but resistance is near.
I feel it really depends on the other markets to allow BTC to go up for the short period or not.
The next 2 days will tell us about the momentum.
Please give me a tick or a like for your appreciation.
Maybe some of this will give you ideas on how to look at the bigger picture.
Regards,
S.Sari
Comment:
Another perspective, channels with fib. levels, all have confluence with support and resistances as well.
Comment:
The 30 min. chart is working for me, using the 10,21 ema ribbon (cradle method)
Comment:
Can the 0.618 fib level hold
Comment:
Discord: TradeToProspa
Telegram: t.me/TprospaTradersbot
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.
