Hi guys, just wanted to share my thoughts about the BTC price action the past week. We are currently looking at a descending trendline that's been continuing ever since we hit a big liquidity zone at 10300 on Feb 24.
I feel today's price action will dictate the halving story this coming May.
We are nearing the Weekly and Monthly close and right now after the...
In line with my previous shared ideas, I do believe that we are entering a stage of high level price contraction on Bitcoin. The first stage of it could be in the form of a quite drastic move to the downside. Time wise, it could be as quick as 30 days. If we see a MACD flip to red then that would confirm some variation of this chart for me.
I mostly expect major...
As you see clearly in the Chart of the LongBuyLongSellIndicator ,the BTC and other crypto currency is approaching the Support.
Will it take off from here or touch the next support level can only be predicted in the coming week.
Trade very cautiously .
I have used the below well received indicator for the Analysis.
For my own limits, 9900-10000 is a no trade zone because I have no directional bias to rely on in this area. I view under or right at the bottom of $9900 as a reliable support level and $10050 as resistance.
Alternatively, 9947~ can be a area to scale in long as it is the 0.618 retrace point of the dump (10085-9730).
$10000 is a psychological resistance and an...
Look at all the symmetry and alignment here. Showing decision nodes along the way to bigger pivot around 17th -18th. There is a data pattern here if you know what to look for.
Image of chart before publishing. Often the scale gets thrown off
BTC is still performing well in the pattern. The Handle is shaping well! A 15% drop from the resistance of the cup would be at the 0.382 FIb level. If the 0.382 fib doesn't hold as support, than I would say the pattern becomes invalid. BTC is currently at the upper trendline of the handle, keeping a close eye to look if it will break. The CHOP is high and charged...
* Rising channel can turn to bearish one at some points or in the end. However look at the 3 white arrows we all see how bulls defending the pivot 9500 last 24 hours and even no 1H candle can close below 9500ish.
* Some top alts also found their support and start bouncing. Personally, as long as no LL forming, Im on the bulls side and will take this risk to ride...
BTC is following the C&H pattern smoothly. It made the first bounce of the 0.236 fib level, touching the upper trendline of the handle. As the RSI is trending downwards, it seems more likely that BTC will drop toward the lower trendline of the handle and continue the pattern. This might also print a higher low on the weekly.
CHOP index is also building up,...
BTC seems to move in an uptrend channel on 4H and at top of the channel now. It means we have an opportunity for a scalping short.
- 4H nice bearish div.
- Too many rejections at key resistance (10500)
- Sideways action below key resistance will push impatient bulls to take profit by closing longs.
Short built: 10380 to 10500
Stoploss: Daily above...