We have a lot of shorts opening right here (at the lows) which gives us a sign that the downtrend could be coming to an end. We are now at the high of a channel that we were previously looking at and that was respected very well. So lots of shorts at support = likely bounce. Doesn't mean we will bounce for sure, but it is something to be aware of, the fib golden...
BTC rejected nicely the fib golden pocket that I gave you this morning, got back into the channel which acted as resistance on the LTF which offered a nice short with a TP1 at the low of the channel. Now it seems like the channel is resistance, and BTC doesn't have much support below it at the moment. I'm personally aiming for the fib golden pocket at 46.1 -...
BTC bounced off the mid of the channel that I gave you yesterday and broke back out of the channel to the upside. Now I want to see BTC take the highs and start pushing towards 51-52k. Last resistance is this fib golden pocket that we just rejected, then we have 50,650 If we move back down, if BTC doesn't hold 49.4k and 49.1k, look for a move to around...
BTC is back into the channel that we were in during the weekend. The top of the channel is now a key resistance that we need to break if we want to see prices back above 50k. If the resistance holds, look for BTC to move to the mid then low of the channel. Funny enough, I was expecting people to short 50k today, but we had lots of long opening around 50.3k this...
This one is going to be a bit more about market psychology rather than technical analysis. I've been seeing a lot of people mention the 50k resistance as being a very big one (psychological resistance of course), and people are expecting a dump after a push to 50k You have to remember, 95% of traders lose money, meaning if most people are looking at the same...
As I said yesterday, I expect the highs to be taken, and it happened today. Now we reached resistance at the high of the fib golden pocket which is in confluence with the weekly level, and we are currently rejecting it. If this is the high, we have the fib golden pocket at the middle of the channel that we just broke out of, which if reached, I expect a bounce...
Hello guys, very sorry for the lack of updates the past few days, have been extremely busy and didn't get a chance to trade much, but I'm back. So quick update, BTC bounced off the low of this descending channel that you see on my chart and is now at the fib golden pocket, which is resistance of course. We are above the middle of the channel after a nice pump,...
BTC bounced in the weekend from the fib golden pocket, and pushed back up to above 48k. However, it quickly moved back down, completing a swing failure pattern. We also have trapped longs at the top For now, all scenarios are still in play as we haven't confirmed the down trend, but the 1st scenario that I gave you in my post 2 days ago is still the one that is...
Yesterday, I gave you 4 scenarios. For now, looks like we could be going through the 1st scenario of yesterday's post (push through level but fail to close above). This could also be seen as a deviation from the channel, which we are now back in, which was preceded by a swing failure pattern of the 48k high that was put in yesterday. So we pushed through 48k but...
After yesterday's update, BTC bounced off the lower golden fib pocket which was in confluence with the anchored VWAP, reclaimed the channel, retested the low of the channel as support, pushed up aggressively and now broke out of that channel. As I told you, I'm gonna walk you through the different scenarios that we can have here, as the 47k to 52k region is...
BTC has been in this channel for more than 2 days, and is now hovering near the channel lows. Of course, always look for longs at the lows and shorts at the highs, until we break it. If we break to the downside and retest the channel as resistance look for shorts. Support levels are the fib golden pocket from 44.2k to 43.4k, then we have 43,250 and 42,450 If we...
BTC held the 42.4k support mentioned in my last update nicely during the weekend, pushed up this morning and broke the weekly level. The weekly level was now retested and we had a nice bounce off of it. Target is still 47k of course, but something to note, a lot of longs are opening up here, so we could see a decent pull back before we go higher. If we lose...
As I said in my last update, I wanted BTC to go for the 43k region test. As mentioned, it is a pretty strong one and a rejection was highly expected, especially today because we are going into the weekend. Now, as volatility decreases during weekends, I would like BTC to establish a range below this resistance area, and next week go for the retest of the...
BTC bounced off nicely from the 38.2% fib and is back above the VAH. This move started with the break of the descending trendline that is on my chart, we retested it and bounced off it on the LTF. Although it wasn't a perfect retest (price kind of played around it), we had the 38.2% fib as a confluence for a nice entry with a tight stop loss. Why do I think this...
As I said yesterday, the front run of our final target was a sign of weakness, making it likely that we were going lower. Today, the VAH moved up, and we are now below it. We are now hovering around the fib golden pocket. Unless we reclaim the VAH, I expect lower, with the 1st targets being the new monthly level at 35k and then the POC at 34.2k If we bounce...
Our final target of the 43k area was front run by around 1.5% which is a sign of weakness. After having reversed at 42.6k, BTC lost the daily level at 40.5k which acted 5 times as a resistance before being broken, but didn't offer much support upon retest. Now, we have the fib golden pocket right above the daily from 40.6 to 40.7k, if we break it we expect a...
As I said earlier today, we held the VAH and we were expecting higher. We also reclaimed the VWAP which was a nice confirmation of the strength of the move and something I told you to look at as well. Our target was 40.5k and was totally smashed. Next level to look for : we have a fib golden pocket from 42.8k to 43.8k which is in confluence with the 1 to 1 fib...
BTC dropped and bounced perfectly off the VAH at 38,345 We also had a trendline that crossed this level at this time, giving us nice confluence for a long. We could still drop to the fib golden pocket just below the VAH, but for now looks like we are heading higher. We would like to see a reclaim of the VWAP for a confirmation of more upside with the daily at...