Hello dear crypto friends!
New all-time high or bear market after all?
No idea. All I know is that all of Twitter is bullish again and influencers are summoning the moon.
Whereas the last remaining bears are looking for explanations.
So what to do?
Keep it simple!
What do we see?
Major Gann resistance for next week, price marked.
And what else is...
We have a gann cross tonight, light blue are short term compartments, green and yellow longer term.
We were turned down at the green one above a few days ago and could now work our way to the nearest green one
Currently, we are at a resistance that now seems to hold for the second time.
Below it is a good support that kept us yesterday in this zone, this also gets support from the daily central pivot range.
A break of the current resistance would bring us to about 57500.
I expect longterm also with the approach of this price level due to the EW theory...
From my perspective, it doesn't look as good for Bitcoin as you hear from the perma-bulls.
The 40k support is still holding and I myself also expected a strong reaction, but hardly anything came.
What do you think? Trend continuation or liberation blow from the bulls?
A tradeable setup from my point of view with a reasonable RR.
The entry is based on the S2 pivot, the 0.66 Fib level and a possible 1h buy signal from wavereader.
Target is first S1 pivot. Furthermore, I consider T2+T3 possible due to a resistance zone.
Do we get from a bearish wolfe wave (yellow) a bullish one (green)?
Point 1 - 2- 3- 4 is already there.
I want to see a reaction at 1.618 FIB from point 3-4 first to see if it becomes one.
The bullish WW would make the target area of the bearish almost impossible unless it becomes a quick squeeze.
It's a precursory look at the next few days....