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BTC begins to tumble, and take the market with it.
I have been reducing my crypto holdings due to massive uncertainty in the markets. I am planning to re-enter if we see new ATH or massive sell-off, see my other post linked below.
But for now, where might BTC be headed? I am watching the 40k mark. If this breaks and we move lower, this could cause massive flush...
Price dropped below 40k but didn't close a candle below it.
Price has recently showed buying pressure breaking above the descending parallel channel with a close above green candle.
The bearish momentum has been decreased.
Only after moving above this trend line, we can expect some range or bullish market.
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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This is just a cautionary idea, whilst i am still extremely bullish, we should be cautious about over leveraging orders. A possible scenario that could play out for BTC to retest levels of support, which could mean a good opportunity to add to orders for some but could be a dangerous play for others. This play could easily be invalidated with another impulsive...
If we can not have a volume buy over 46.200 we are going to make one low becasue the move from 39.5 not looking a strong impulsive we need confirmation with a pump and hold over46.2 other wise we are gonna go lower becasue of nasdaq and spx aiming lower and latley btc correclation with stock ultimate level so both to ideas makes me to have one more low.
Bitcoin sitting at long term support as well as has MACD + RSI Bullish divergence.
Past success rate of this strategy is pretty high as you can see in the charts.
If you guys have any questions please do hit me up.
CHEERS from MrOWL
I made this prediction based on W pattern , So if we create W pattern on Weekly time frame my price prediction for May is 64 k approx. price for October ca. 83 k then we can see correction for 60 % . it all depend on many different circumstances of course :D . this is bullish option. thanks
I have made video tutorial on how to use Auto Harmonic Pattern V2. This is not invite only script. But, decided to make a video anyway due to complex nature of the indicator.
Please go through it and ask me if you have any questions.
Looks like more positioning. Will have to see if it begins to cycle here and attempt a mark-up.
Keep an eye on these previous demand areas. But just like the ETHPERP chart, the volume here appears a bit more active.
More to follow.
There is an opinion that day trading is not suitable for traders, who have a full-time job. I would like to say «yes, you are right» and advise using hourly and daily timeframes for swing and long-term trading. It is the simplest way and it is obvious that swing and long-term trading don’t need so much attention as day trading. But what if we think together about...
BTC has had a bounce but let's look back to the daily and we are still looking weak!
Just got back from a nice break over Christmas but am not ready to re-enter this market. BTC just has too much uncertainty. We are forming a very strong weekly sideways consolidation and I like to trade trends.
I will keep my eyes peeled on the lower timeframes but am not...