Hey, I'm gonna share again my perspective from the BTCUSD Market. Im bull on MACRO, neutral on HTF until 11.5k, and bull on LTF.
I had been watching the M/W mostly, and I'm kinda sure we might need a monthly closure above 14k to expect new highs, might be August, in that sense we would expect 16k around October.
11.9k is a daily resistance, we might expect some...
I won't make a forecast but share my analysis from the most important levels to trade on these next few days.
I would turn bullish if we close above 12.4k and flip RS.
Otherwise, if we continue with the downtrend I would expect reactions at the signed levels. 8.3k would be almost a dream, but a legit retracement for the bitcoin rally.
At this time I'm spot BTC...
I want to introduce you this idea.
I was looking for a PA reaction from the same L/S ratio setup, and got this surprise.
I think it's really accurate and deserves to be shared, even if it fails horrible.
Of course this is not a financial advice, and it might get invalidated if BTC breaks 7.5k with a full body candle on daily chart, or breaks 4k on the...
Well, as u might see on my related Idea, I was expecting a symmetrical bottom triangle breaking downwards, but seems like I was too early on the diagnose.
As the market continued to develop it's structure, we appreciate an ascending triangle, pushing price above the 4k big resistance.
This give us a consolidation level, and at the gate of a HUGE volume gap.
Hey! I hadn't checked enough until I checked the past behaviour.
It seems like I was too shy at calling just a 25% drawback. It might be similar to the previous impulse.
Since I cannot change the original Idea, I republish this one minuts later :)
Thx in advance
Hey guys, I want to share this idea with y'all.
I think we might be undergoing a symmetrical triangle, which would breakout downwards.
I believe we might test 3000's level, and if it breaks, possibly will go down to 2500's level.
Those levels are ranges calculated by Weekly, Daily and 4H supports/resistance.
I won't give entries this time, because it might be a...
As we described in the related idea, we were waiting for this entry at this level.
The bounce was really nice, 7% in 2 hours since the target around 0.001150
Check the related idea to get the TPs and Targets.
If it fails at 0.0013 BTC, get out of the trade because BTC market is really fragile at this time.
As supposed, the price kept climbing a bit.
Shorts have been closed, that's pretty bearish although counterintuitive :p
Wait for price action at 4400, if the breakout is upward it might go for EMA180 resistance, which is almost 5k.
That would be sweet if you are long.
Anyway, let's see first how much volume and momentum we get at 4400.
On this update I drew the Elliott's wave I detected on this latest retracement.
I think we will face 2 impulsive waves, as the first one developed and the 2nd one is on the way.
I don't expect a huge rally, so I will just set short's on 4400 for intraday today.
Have a good weekend
Well, I think this worth the share.
I will keep an eye to the price action at Weekly period.
Pattern is strikingly similar, and nobody believes this is the end of the bear season, as the bitfinex's shorts on bitcoin are again above the threshold.
I don't say this will happen, but I share it because I think is a legit escenario. We might be looking for a new...