Technical analysis is based on probability; psychic analysis is based on future events being felt in the present.
A single line was drawn while channeling demonic forces not of this Earth. The price will have no choice but to follow the line over the next few days. Why? Because it already has.
Watching the last weekend dip and how it progressed into MONDAY was interesting for sure. Similar to last weekend. A FUD free week would bring back near ATH- remains to be seen. Spot bags still loaded, will offload if FUD arrives, and wait for the ELON gap to be filled, targeting deep wicks below.
So BTC obvioulsy recovered a bit from the dump past couple of days, but i'm not sure if that was it or we have the rest of the week of ugly choppy price action.
To protect my spot exposure, I'll be taking a short at the .705 retracement level (golden zone between .618 and .79).
Invalidation close to entry (swing high at 55050), aiming for 15th february...
Timing is way more important than price target. If you enter and exit at the right time you will have best results with your trading.
Short at $57,500 or above
Target 1: $43,800
Target 2: $41,500 (Target date: March 8)
In this analysis, it appears bitcoin is following a previous schematic from 2020's May > July Wyckoff Reaccumulation before breaking up to where it appears we're repeating the same schematic again yet again.
If this plays true, we'll have a few weeks of a small % movement sideways trading range.
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#BTCPERP - short
A wedge is forming on the chart. Within this figure, we see it as a Bearish setup. Now there is a strong struggle between buyers and sellers. Time will tell who will win. But I expect price correction to the level marked on the chart. All transactions are now at risk, so don't forget about TS and risk management!
💸 Price for entering a trade...
Bitcoin still shows no signs of weakness and continues to rise.
An interesting level to buy (a dip) on leverage is ~ $50k. Before that (it happens) just scalloping mini-dips and holding spot.
No shorts allowed.
Information is just for educational purposes, never financial advice. Always do your own research.
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BTC may be coming too a short as there is a divergence in the RSI and an the ichimoku and stochastic oscillator may suggest there could be a correction. This is no FUD however as each sides could go either. I would suggest to wait on the price action and market structure to short and/or wait to buy at the support level for a bounce. It could happen or not but it...
I would say that BTC needs a consolidation time and then should have a rise again. I thought that we are now in a triangle between 52800 and 50600. That helps to see that BTC can go up or down.
The volume profile if would be attached to this chart it would show that BTC needs a breath time.
You may have heard on other platforms and media, so-called experts telling you that Historical Volatility Percentile (HVP) can't be used to tell direction and this is simply just wrong.
Our communities have identified 6 scenarios that accurately predict price action.
This published idea today, is sharing one scenario in the hope you all see...