I expect BTC to return between these value that i projected yesterday in my scenario :
What add weight to this expectation :
- MACD 1D might crossover the signal (still not crossed it but heading toward that direction) but is more complex tool. A crossover (no matter where it happens) need to be put in his location perspective (remember that 1D still not crossed the signal) I hope you learned throught my post that the negative spectrum of the is the bear zone. So a signal crossover is not garant of a sustained run, it just show that the price head toward testing upper resistance
- The standard deviation already showing less and movement price as price grow. This tell that the momentum loose energy (less momentum=less fluctuation=more chance of a reversal). Right now at 1.2k, it matches the zone near of 9.3-10K. If we calculate the standard deviation with yesterday low we have 9.5k as reference.
- The standard/traditionnal point is near the projected reversal zone
- Fibonacci level is there
- Price are still under MA 200 (9170) and MA 200 correlate in the zone
- Weekly still show an underlying
- My primary scenario (ABCDE correction) still not completed point E
- Point E correlate with full fibo retracement and S
- Strong daily log trend resistance near 10k lvl which rejected impulses many times
To conclude : we have a lower prices fluctuations heading toward strong resistance with a 1D still in the zone. Normally a good bull trend have steady or higher price fluctuation (standard deviation) leading toward resistance (strong momentum=higher chance to go through resistance).
I projected price movement flow of both scenario (red = bounce = bearish) (green = crossover = bullish)
But yea waiting is the worst part. Thats why working with daily and weekly chart help so much to put everything in perspective.
Looking forward to it :-) thanks heaps for your help!