Last two Engulfing candles were followed by rally.
But there were also a one in April short before COVID crush.
I think it is better to wait for the next week when real numbers of omicron and economical impact will be clear before going all in.
The bitcoin shows us a great on a lower time-frame (H1) with a great Risk Reward Ratio.
You can see the main support and resistance levels based on Wyckoff theory. These create our trading range.
Even a leveraged trade can be possible, but be safe with risk management!
BTC looks as though it has printed its bottom and is recovering nicely.
This ascending channel has held and continues to be the current trade channel. If this holds true this could be the bottom of a very bullish movement.
The charts seem to point to at least 80K and that's a minimum (circled in yellow on the chart). BTC can go as high as the top green trade...
BTC has had a correction occur with it breaking out the bottom of it's current price trend. However BTC has two levels of support with the first proving itself a worthy adversary to the current bearish movement.
BTC can go to as low as $53K before finding the first level and as low as $48K before finding the second (marked on the chart with yellow arrows).
Charts to Monitor the Rise of Polkadot and Kusama.
The ecosystem prepares to go live end of Q1-Q3 of 2021.
- First Chart = is Dot/Eth/BTC. For this chart to go up Dot has to outperform both ETH and BTC.
- Top Right = Kusama Vs Dot . . Kusama is overlooked and undervalued. The idea is that Dot will out perform Eth and Kusama will out perform Dot.