It looks like we are forming a Head and Shoulders pattern, also we have below that significant Vector candles where lots of Orders are trapped.
I expect BTC to go LOW, given the current economic situations i even think of sub 15k prices.
My entry for a Short is at the red Line, take profits along the green Vector Zones.
Do not overleverage and do not be greedy,...
The Bitcoin Long is looking good so far, we are heading towards the Target Area, also the yellow lines represent a channel, if we reach that lower yellow line we can expect harsh resistance, if we break with conviction i stay in the long position and set the Stop Loss in the Profit.
Don't be greedy, pay yourselves continiously.
Enter at the Green line for Long if the Structure is holding, enter at the red lines for a Short order.
If a LONG Scenario plays out, take profit at the 200EMA (~20950USD)
If a Short Scenario plays out take profit at around 20130USD
Potential Short scenario, low leverage and entry near the 50EMA, recovery of the green vector Zones below.
Watch BTC's behaviour closeley, when BTC is tumbeling COMP/USDT can be a very lucrative Short.
Currently we are at a resistance at the 200EMA on the Daily, a retrace is expected before we hit higher grounds 25k-28k (maybe even around 30k top).
Around these areas we have significant liquidity pools that marketmakers are going to grab, my midterm forecast is still bearish, sooner or later we will see the 12k zone.
Stay tuned and pay yourselves when you are...
Target Take Profit Zone marked in Red.
Given the fact that the Volume is dropping off harsh after the last couple days, we will get a rejection from this point on in the chart, same applies for other Alts across the board.
Marketmakers are going to mark price down in order to take profits.
Today we have the FOMC meeting, after the NYSE Open we will know if the Dollar Dominance will rise, in case Dollar Dominacne rises we can expect a sharp pullback across the board incl. Crypto, ETH, BTC etc.
On ETH we might see one last test of the 800EMA on the 4hr chart before a pullback.
Tried 3 times to break above the 800EMA and failed, retraced back and now the 50 and the 200EMA are going to cross as it seems like.
Recovery Zone is the Short Target, mid week reversal should come today.
Sharp moves away from the 50EMA on the 1hr chart have to be treated with caution.
In order to see a healthy price move to the upside we always need to see a retrace to the 50EMA.
Don't rush into a long position, prepare a short order, a scalp back to the 50EMA and take your profits.
Same principle applies into the opposite direction.
As expected we are seeing no volume and no action on the weekend as usually, sideways.
EMA's are flattening out, clear liquidity accumulation at the 17000 USD Zone.
On Monday, maybe even late sunday we might see a very sharp retrace into the Recovery Zone marked in Red on the chart and recover the Vector Zones.
Have a great Weekend and prepare for the money heist :)
We are currently at the point of intrest, at the 200EMA on the 4hr chart.
A test of the 200EMA is mandatory, are we going to bounce back to the downside from that point on, or are we going to take the liquidity pool at 19200USD.
In case of a clear conviction to the upside and a strong close above the 200EMA, we will most likeley see a run to the 19200...
We got a clear M formation and lots of zones to recover marked as "Recovery Zone".
A SHORT Entry would be between 1250 and 1270USD on ETH/USDT.
Monday we will see the play when markets are open.
Until then, keep your feet on the ground an prepare.
Have a great Sunday
Due to low liquidity during the weekends we are going to see most likeley not much action on the Market.
We have 2 Major Liquidity Zones that should be recovered on Sunday evening latest Monday.
Expect a retrace to 16445USD
Short orders are favourable.
Another possibility is before retracing to the 16445USD zone a touch of the 800EMA before we retrace.