Lots happening in this chart plus more that cant be shown in just one chart….but here are the facts:
- Daily SMAs overall curving up
- Resistance at $42k is obvious - need another couple of tries to break that
- Stock RSI curving down
- RSI peaked but broken structure, with key SR level at ~50
- Both 21 & 50 daily SMAs due to be around $36k level
- Coincides with...
8 green daily candles in a row suggests one thing…we are, based on probability, likely to see a red day…and here are my thoughts:
- In short term range
- Week long bullish uptrend
- 4hr demand below
- Consolidation below $40k resistance
That’s right…alongside the general price action that keeps me bullish, we also have a number of indicators flashing potentially bullish signs on the daily:
- Long standing Bullish divergence on the RSI
- Stoch RSI bottomed and appearing to curve up
- Cipher bottomed
Again….could see lower in short term but over the coming weeks…this *could* be a reversal
Something is happening in the BTC charts and while my mind has had its back and forth…and yes, we could still go lower…I am veering towards bullish. Here’s the facts in the charts:
- Deviation from major range
- Possible descending wedge
- Finding support above previous major low
On other charts we are also seeing bullish momentum come back into the...
This is looking bullish….but only up to ~$50k where we will be met with untold amounts of selling pressure.
- Bullish ascending triangle
- Break would be 3rd/4th try of $40k
- Target would be ~$50k
See what happens from there…
This dump seems reminiscent of the “corona dump” back in 2020 (see linked chart which was miraculously accurate at the time):
- Massive capitulation
- Strong buy back at weekly demand
- Extreme fear in the market
- Oversold on most indicators
Based on this (and its still early days), I think we could see AT THE LEAST a relief rally up to about $50k (somewhere...
Title makes no sense but in short I wanna see us come down to 4hr demand and then blitz out of this range. We got a few key s/r levels to play with so I dont think this will be all smooth sailing, but this time once we break ATH…we will moon
Based on months of learning from George1Trader on Twitter, I just wanted to pop this tutorial up to demonstrate what I would define as a great example of BTC trading inside a range.
These ranges can been found on any timeframe, but this one is on High Time Frame to demonstrate why I am currently bullish on BTC. The theory is simple:
1. A range is formed after a...
If you wanna look at my charts from maybe over a YEAR ago, I had been calling for this green WEEKLY OB to be tested, I even have multiple posts referring to a test of the 200 WEEKLY MA...
Well, its happened!
However we now see BTC break above these points and towards the key lows from our previous HTF range.
With both RSI being wildly over sold, and cypher now...