BTC broke down the parabola, just like the past 2 run to 12~13ks. seems like a promised,usual habit, or move. this is the reason i trade btc. it does not lie with charts. inside a triangle pennant from june, it finds resistance and corrects. of course, at times like this, low volume, we see whales manipulate with price. we saw price rose above the resistance to 12.3k. the candles spurted up in 1hr, but i was waiting for the 4hr. when price maintained 12.1~2k in 4hr close, it looked like this crappy market between bear/bull market is done.
nothing in this world is easy, and so does this crypto market. it gives hope and fear all at once in one day. once i saw the drop to 11500 from 12.3k, i was just smiling at the fact how, this financial product always do not lie with charts. it does invert h&s to bullish wedge, or vice versa, tricks with investors, but it knows where its resistance is. it is what, we saw in the last 2 years.
at this point, price rose from 11200/300 area, where 4hr ichimoku baseline lies. it is little different, from past corrections from 12~13ks, because it just broke down to the 4hr base line and found support. this time,unlike last 2 drops from upper zone, it found its support, even though it may be short one. it indicates btc market is bullish then before. and, it wants to go up eventually.
in this chart, orange box is long position areas, with strong support, yellow box is also long position areas, only with weak support. and red box is no buy areas. basically think, we should think more correction to 10700/600, where daily ichimoku cloud low support, and weekly conversion line is at. but, since it is supported within the rising channel,at 11300/11400, price can go up over 12k from here. it could make somewhat, triangle here. too soon to tell. then we buy at better good confirmation.
one action i think would not happen is that we fall below 9k to 7.4k's..i doubt but we never know in crypto.
the weekly candle is bullish, bull engulfing, so i expect correction to max 10600/700 area if it breaks parabola. plus we had 3D golden cross(50,200ma) at 9000.
in crypto world, we are in the verge where, big bull market would show in next years. this is our time to examine and study btc's habit before its amazing run. price now seems high, but in weeks, months we would mourn, regret for not buying. cheers.
nothing in this world is easy, and so does this crypto market. it gives hope and fear all at once in one day. once i saw the drop to 11500 from 12.3k, i was just smiling at the fact how, this financial product always do not lie with charts. it does invert h&s to bullish wedge, or vice versa, tricks with investors, but it knows where its resistance is. it is what, we saw in the last 2 years.
at this point, price rose from 11200/300 area, where 4hr ichimoku baseline lies. it is little different, from past corrections from 12~13ks, because it just broke down to the 4hr base line and found support. this time,unlike last 2 drops from upper zone, it found its support, even though it may be short one. it indicates btc market is bullish then before. and, it wants to go up eventually.
in this chart, orange box is long position areas, with strong support, yellow box is also long position areas, only with weak support. and red box is no buy areas. basically think, we should think more correction to 10700/600, where daily ichimoku cloud low support, and weekly conversion line is at. but, since it is supported within the rising channel,at 11300/11400, price can go up over 12k from here. it could make somewhat, triangle here. too soon to tell. then we buy at better good confirmation.
one action i think would not happen is that we fall below 9k to 7.4k's..i doubt but we never know in crypto.
the weekly candle is bullish, bull engulfing, so i expect correction to max 10600/700 area if it breaks parabola. plus we had 3D golden cross(50,200ma) at 9000.
in crypto world, we are in the verge where, big bull market would show in next years. this is our time to examine and study btc's habit before its amazing run. price now seems high, but in weeks, months we would mourn, regret for not buying. cheers.
Comment:
at this point, price is supported again by 11400. it can go up to 11900, once again challenge 12k, or come down. price is supported by the channel, which, is one evidence to go long. but it is best to wait for more confirmation.