3 entries for the next BTC impulse wave
Hello Traders!
BTC has:
- almost reached the target of the large wedge (marked in red) at 44700
- touched the 21 EMA weekly
- created a lower low to potentially complete corrective wave C
We can prepare entries for 3 scenarios:
- BTC goes up from here - FOMO enter here.
- BTC forms a Wyckoff accumulation pattern to consolidate the low and start a new impulse wave up - enter when the consolidation unfolds, looking for a Spring, a re-test and signs of strength afterwards.
- BTC needs one more dip to complete a lower low of wave C - stack buy orders from 41k to 38k.
There is one imbalance (blue box) which usually gets filled at one point, but it is not a must to go further. If price goes that low, I expect the order block at 39366 or at 38595 to become a support. These are my "worst case" entries.
BTC may front-run demand zones as usual and go straight up from here, so I have a small position open already that can be down-averaged just in case.
Since BTC kissed the 21W EMA, traders will become very bullish here, so we can expect fresh capital inflow (Michael Saylor bought this dip). Also it has grabbed liquidity below the previous equal lows (EQL line), which should give it a nice push.
Elon's tweet was, hopefully, a lesson for him so that we should get a break from such nonsense, allowing BTC to recover, along with QQQ & SPY. The market should not follow tweets, but supply & demand.
Good luck to everyone!
BTC has:
- almost reached the target of the large wedge (marked in red) at 44700
- touched the 21 EMA weekly
- created a lower low to potentially complete corrective wave C
We can prepare entries for 3 scenarios:
- BTC goes up from here - FOMO enter here.
- BTC forms a Wyckoff accumulation pattern to consolidate the low and start a new impulse wave up - enter when the consolidation unfolds, looking for a Spring, a re-test and signs of strength afterwards.
- BTC needs one more dip to complete a lower low of wave C - stack buy orders from 41k to 38k.
There is one imbalance (blue box) which usually gets filled at one point, but it is not a must to go further. If price goes that low, I expect the order block at 39366 or at 38595 to become a support. These are my "worst case" entries.
BTC may front-run demand zones as usual and go straight up from here, so I have a small position open already that can be down-averaged just in case.
Since BTC kissed the 21W EMA, traders will become very bullish here, so we can expect fresh capital inflow (Michael Saylor bought this dip). Also it has grabbed liquidity below the previous equal lows (EQL line), which should give it a nice push.
Elon's tweet was, hopefully, a lesson for him so that we should get a break from such nonsense, allowing BTC to recover, along with QQQ & SPY. The market should not follow tweets, but supply & demand.
Good luck to everyone!