Question: Teacher Quan: May I ask if we follow the harmonic chart, then the chart for vdv fails at the 89th minute, right, whoever is short at 12k is going to fight their ancestors?
Answer:
When the market is showing signs of decline, all high buyers who expect the price to return to a certain area will exit, it will happen 2 cases.
Case 1: Usually it will go sideways for about 3 to 7 days and then fall further because fear is covering the whole market
Case 2: The selling when the price increases, in contrast, is the condition that pushes the price up again. Usually a 2 vertex pattern is created. That means once again the price of BTC reached the 12k zone.
Here we are forced to make a choice. if btc break the previous peak it will follow the harmonic up to about 16k in that time frame.
On the contrary you will experience a strong sell-off at the 0.5 to 0.7 Fibonacci retracement of the 12k5 to 9880 measurement that push the BTC price down further.
I think BTC is currently at strong support. The price is already slightly under the active traders’ average purchasing price. This means traders will be reluctant to sell, leading to a decrease in supply and will ultimately push up the price. Unless something drastic happens for the stock market, I think we’ll bounce up in the week ahead. Do you agree?
Case 1: Usually it will go sideways for about 3 to 7 days and then fall further because fear is covering the whole market
Case 2: The selling when the price increases, in contrast, is the condition that pushes the price up again. Usually a 2 vertex pattern is created. That means once again the price of BTC reached the 12k zone.
Phi-Deltalytics
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@LuckyTrader102, I'm getting less bullish for the short-term. Sentiment is neutral rather than bearish at this point. And open interest is still low....
UnknownUnicorn999651
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thanks I like this analysis! my vision 👇🏻
Trader_OMS
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Hello trader. Good idea
LuckyTrader102
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@Trader_OMS, Thank you. Follow me for more signal ;)