Everything is indicated on the chart, until we break through the buyers' zone, there should be no concern for those traders who bought, the seller's previous zone was pushed, the buyers' zone is on the defensive.
BTC managed to pump towards the $43k level but could't sustain the growth.
This pullback was imminent with all those bullish charts being shared in the community.
Late longs are trapped and it's time late shorts to be trapped too.
Once it happens BTC will be ready for the rally.
So far the point for bounce still remains the lower trendline support.
$38.5k (wick to...
$BTCUSD BTC chart with alternating repeating channel widths. I've used this for many years and figured I'd finally share the love. It's weird you know, it's almost like a bunch of math nerds designed the mean long-term behavior patterns of the chart, almost looks protocoled. Must be a coincidence.
@RCD
$BTCUSD BTC chart with alternating and repeating channel widths on log scale. I've used this for many years, with buy zones whenever price enters green price channel or green RSI area. Figured I'd finally share the love.
It's weird you know, it's almost like a bunch of math nerds DESIGNED the long-term behavior patterns of the price chart...almost looks...
This is a buy/sell indicator which has been quite accurate to predict long-term price action on higher time frames. Every time candle closed with a sell alert, Price dumped over 42% so now we see the sell signal popped up plus we have a death cross nearing which will further confirm the downside towards $23K.
I am not saying this is a sure-shot thing but this is...
Price action is developing a harmonic 🦋 Target of this is $57,329. Invalidation of this harmonic will be price going below $38k level or consolidating for a longer period of time. Although it looks we will touch $44k level and pull back but sometimes you cannot anticipate the movement of BTC and it surprises you.
Elliott wave analysis on bitcoin, if this scenario is true, we're currently in a wave 3 of C of D in a big symmetrical triangle correction. In addition, if it copies the 40-69k pattern, we could see it reaches the 60k+ zone in a month.
In my last Bitcoin analysis, I draw attention to 40k important support and as we can see, after a short-lived dip under this figure, Bitcoin has rebounded.
However, this rise, in my opinion, should not give high hopes, the overall structure remaining strongly bearish.
I will remain on the sideline for not and wait for more clarification, but my bias for the BTC...
As previously stated in my analysis, we had a pending buy trade @ 41600 which was activated yesterday.
On one hand this is good news, for our long strategy, yet the latest price action are telling me to be more cautious than usual. There is more selling pressure on our path to the upside than support areas on the downside.
Yesterday BTCUSDT faced resistance as it...
BTC / USD
This is a quick but simple update !
BTC faces 42k resistance
the buyers still hold the price tight above the lower line (by candles closure )
Overall the market is trading in range of this channel since start of 2022 (almost 5 months ! )
WHAT NEXT ?
–As long as the daily candles still close above this line the situation is bullish toward 44k 46k...
Here is my view for BTCUSD on H1. The price could go up, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
The previous idea still on track.
New lower low below $39.2k ✅
Bullish divergence in HTF and LTF ✅
Retest in LTF :- ❎ (This is why we can expect a little pullback in LTF around the mid $40ks )
So eventually the chart remains the same.
BTC is likely to hit the $43.5k+ level.
The little pullbacks will merely be some good buying opportunity.
So, keep an eye on it....
