tow orange flats on about 30800$ can be a high potential points to set short positions...
first one with more than 7 and the second(risky) one with more than 14 Reward per Risk...
there is nothing to explain more about that, so let's see what happens in the future ...
I don't wanna talk about why Bitcoin still tends to create lower bottoms (because anyone who has followed my previous analysis, knows enough about reasons), instead I wanna talk about the last targets of crypto bear-market for the first time...
As you can see, BTC has low-scale Bermuda's above. Mostly on hourly and minutely time-frames, but there is a green daily...
As I mentioned on my previous analysis, " Way down we go o o o" , that price will definitely loose the bottom of 17K $, I believe that BTC will loose it soon...
The large daily Bermuda has worked well till now, rest of lower time frame bermudas below has ruined, and Bitcoin is properly ready for falling to next castle which is on 15K $ ...
this short sell...
the structure of BTC recent movement is correction up, so bitcoin still has kept down trend, it means that bottom of 17.6 will be lost definitely...
finding the local hight pivot (yellow circles) to set good short position needs to find the best liquidity which is mostly hide behind clouds flats, so we have some candidates from different time-frame which is...
based on previous analysis which is linked below, I'm sure about bearish market and losing bottom (26.7 k)
for catching an interesting opportunity, I suggest this long position ....
bermuda on 29K is a strong level to support BTC, in addition the yellow trend line make a tempting liquidity for big boys to fill their buy orders
I expect reversal pivot on purple...
it is obvious that the main direction is downward, a probable reversal pivot on the purple bermuda level could be expected but befor that it should eat the tiny one minute red bermuda on 28.5k
predicting which level could be our reversal pivot needs to know how much level has eaten from last downward movement. unfortunately I don't have enough data to find low...
the scariest thing about chart is lack of strong Bermuda below, just a lonely one-minute level (red) on 40150$ . the next support levels are on 35K and 33.5K, all of them from one-minute time frame...
On the other hand heavy remaining orders from any time frame has created Bermudas above...
so I can imagine the worst case scenario for Bitcoin to hunt 41.9K...
if you have an experience of following bermudas, at least for a month, you would be almost sure about having reactions on these levels in the future ...
some times price passes bermudas without showing respect! certainly you would be surprised, why?
dont be disappointed, it MUST show respect to the ignore levels. just trust on the rules ...
take 0.23% risk and...
based on the strength of Bermuda's , I can see that 46K will be reversal pivot for bitcoin because there are m15, H1 and H4 purple levels close to each other ...
let's see whats going to happen...
BTC seems creating a pivot, swallow the orders above, clear path to the up levels, the first important one is 43.7K ...
less than 3.5% stop loss with a more than 23% reward expected ...
