If today closes on its high, it will be the biggest bull bar very late in a bull trend within a bigger TR. This looks very climactic and could lead to the end of the bull leg. Buying now, is like buying the top. Maybe we get a small brief second leg up, but I think there's almost a 70% chance we stall and revisit the low of that climax bar next. And probably...
This time it won't be different. You can't print the markets into oblivion. I think we will see a 2nd leg down and this isn't the bottom yet. Those who watched the last decade rally and always wanted to enter the market are thinking they just bought the dip, those late buyers will likely get burned. The bad news is that COVID-19 was just a trigger for something...
There is only a 25% chance of a successful break-out above a channel. Considering we are in a big trading range I see it more likely that BTC fails to break above 8k strongly to go to 10k. Since, all expect the halving to be the most bullish event, and traders tend to get disappointed, I think it's more likely that we will revisit 6k before going up. I think a...
Bitcoin is incredibly compressed, volatility is dead, huge triangle. I would not be surprised to see a false break of the triangle down to around 5k and then a choppy rally back up to the top of the TR at around 9k-10k. If price is able to hold the new levels (9-10k) then there's a chance we get back to the ATH within 1-3 years.
Nice pin bar from key resistance area which was previous support.
Downtrend and 50% retracement of last down swing.
Also note that the pin bar formed as a reaction to the daily supply zone 1.09368 - 1.09842.
B.E: at 90% of TP
The support, if you look more to the left, is a daily key support level.
This is counter trend, but the fact that price rejected lower prices at support, indicates a potential double bottom forming.
B.E. 90% TP
Price is nearing a strong demand zone on the 4H chart.
The demand level is on the lower end of the bigger price curve, making it a good buying opportunity.
SL tweaked to next 15m demand level
Price formed a bearish daily pin bar signal from resistance.
Price could continue lower to next support.
Possibly a new downtrend is developing because we had a lower low and lower high, breaking previous support levels.
Entry 50% retracement
B.E. 90% TP
Price is approaching a supply zone which is inside a bigger daily supply zone (blue lines).
The big picture looks good because price are near extreme highs, so more willing sellers could step in.
Also the quick rise without major retracements is a sign over overextension and exhaustion.
The orange line represents a tweaked entry based on the hourly chart. The red...
Price formed a big bearish pin bar on the daily chart.
The signal is rejecting a minor daily resistance but still a valid setup.
Also some support at 1.5269 could cause a bit of trouble.