Bitcoin VLOG #43 - BTC loving 31k... does it love 30k also?
*Hmm think the vlog was a bit loud today! Will get it better next episode
This squeeze is still squeezing! More lower highs! BTC has now backed itself into such a narrowly ranged corner we are bound to experience some pump or some dump.
Short term I have to admit things looking a little more bullish, I think we could experience some reprieve here. We need to see around 32.5k get broken, then after that around 33.3k and the recent high. If we can break that recent high imo we come back to mid range.
But that's quite a few steps away just yet.
There's a lot of bearish patterns that are completed or nearing completion, we are waiting on BTC to make a major move to give us a clue as to what it wants to do next.
My own TA tells me, completion of these patterns should signal downside, sequential lower highs tell me BTC wants to go below 31k and 30k. The past few months tell me a similar thing. There is more interest for selling this supply.
For this to change BTC price action needs to show me otherwise, which means breaking those marks i mentioned at the start.
As I keep saying I'm deliberately holding bearish bias here but trying hard to temper it and be open to reversals and bullish signals. Only time can tell how well I'm doing this.
I wont be longing BTC here as I think this is where we can see significant dumps, I will trigger some hedge longs if we hit 28.8k but THEN come back above 30k.
MY PREDICTION = 32.5k failure, break below 31k possibly test 30k
Shoutout to todays trading view ideas = @MMBTtrader, @VincePrince, @ArShevelev
=== TimeStamps ===
0:00 = Welcome
0:30 = BTC 1 day
3:15 = Outside of my patterns
4:30 = 20d vs last 20d period
7:30 = upper trend line trades
8:30 = Resistance line
11:15 = BTC 1 minute
12:30 = FIBS
14:15 = BTC 1 weekly
16:30 = BTC 1 monthly
17:00 = @MMBTtrader - 30k support
17:50 = @VincePrince - Elliot wave play
18:30 = @ArShevelev - Descending wedge
19:30 = Closing words
This squeeze is still squeezing! More lower highs! BTC has now backed itself into such a narrowly ranged corner we are bound to experience some pump or some dump.
Short term I have to admit things looking a little more bullish, I think we could experience some reprieve here. We need to see around 32.5k get broken, then after that around 33.3k and the recent high. If we can break that recent high imo we come back to mid range.
But that's quite a few steps away just yet.
There's a lot of bearish patterns that are completed or nearing completion, we are waiting on BTC to make a major move to give us a clue as to what it wants to do next.
My own TA tells me, completion of these patterns should signal downside, sequential lower highs tell me BTC wants to go below 31k and 30k. The past few months tell me a similar thing. There is more interest for selling this supply.
For this to change BTC price action needs to show me otherwise, which means breaking those marks i mentioned at the start.
As I keep saying I'm deliberately holding bearish bias here but trying hard to temper it and be open to reversals and bullish signals. Only time can tell how well I'm doing this.
I wont be longing BTC here as I think this is where we can see significant dumps, I will trigger some hedge longs if we hit 28.8k but THEN come back above 30k.
MY PREDICTION = 32.5k failure, break below 31k possibly test 30k
Shoutout to todays trading view ideas = @MMBTtrader, @VincePrince, @ArShevelev
=== TimeStamps ===
0:00 = Welcome
0:30 = BTC 1 day
3:15 = Outside of my patterns
4:30 = 20d vs last 20d period
7:30 = upper trend line trades
8:30 = Resistance line
11:15 = BTC 1 minute
12:30 = FIBS
14:15 = BTC 1 weekly
16:30 = BTC 1 monthly
17:00 = @MMBTtrader - 30k support
17:50 = @VincePrince - Elliot wave play
18:30 = @ArShevelev - Descending wedge
19:30 = Closing words
