btc is currently making a new swing low each 16 bars. Time expires tomorrow.
Making a higher low and breaking 6800 after would draw an inverse head and shoulders pattern.
Making a higher low and breaking 6800 after would draw an inverse head and shoulders pattern.
Comment:
Comment:
btc failed to make the new low in time and has a higher low now. Looks very bullish to me for the medium term.
Comment:
this escalated quickly
Comment:
on the weekly chart we have the ma20 which turned from support to resistance. to leave the bear market it is important to break and hold above it.
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on the 2h timeframe a hidden bullish divergence is forming. RSI make a lower low but price not. It indicates that there are many bulls who want to get back in here.
Comment:
I believe that we are in wave 3 of the impulse.
Within the 3 we are in 4 which cant go below 7800.
After that we can have a extended wave 5 of 3.
Within the 3 we are in 4 which cant go below 7800.
After that we can have a extended wave 5 of 3.
Comment:
after this crazy price action there is a hidden bullish divergence on the 12h chart now.
So it looks pretty good now, its likely that btc will go way higher.
The ABC correction is completed.
Weak hands who were just in for the guicky etf pump were shaken out.
The rsi divergence says that the price should have made a lower low (below 7300) but the supply was bought by the bulls before so that the price couldnt get to a lower low. This means that bulls are still in control.
So it looks pretty good now, its likely that btc will go way higher.
The ABC correction is completed.
Weak hands who were just in for the guicky etf pump were shaken out.
The rsi divergence says that the price should have made a lower low (below 7300) but the supply was bought by the bulls before so that the price couldnt get to a lower low. This means that bulls are still in control.
Trade closed: stop reached:
top turned out as bull trap, stop reached at neckline break 6800.
Too bad. Most profits erased.
Too bad. Most profits erased.