Ladies n Gents,
This is my current take on the beast which is Bitcoin.
We have dropped from our long term consolidation pattern, and have yet to make the measured move downwards to 7.2-6.9 region.
Which does line up with a lot of buying power if you check the Volume profile.
What we are experiencing now is only a bounce on the way down. Do not be fooled, this...
This is my current take on the beast that is BTC.
We have broken through all major resistances on our way back up to the 10k region. Coming to a halt around 10.4k as expected.
We now have the 200 and fibs backing us around 10.2 and 10k, if btc decides to drop a bit to cool off the indicators, i expect no more downside than 10k before the bulls...
Hello ladies n Gents!
As we can see, the market has almost come full circle, and is now entering the "Suckers Rally" phase.
Meaning two things, expect major dips, and a new ATH .
When i cannot say, i will be watching more often than not!
What makes me believe this, is that we have respect each and every phase of Market Psychology for starters.
Second thing, is...
As you can see, corn has been in a descending channel for a while now.
EOM we are looking at 8.8 8.7k ish region.
Will we breakout before then? Will we fakeout, then dump?
Everything is possible. And everything is pointing to a big move, may it be up or down.
I will tell you one thing, keep an eye on the indicators, and an even closer eye on TV chat.
Bitcoin has been able to survive yesterday's ride.
IMO BTC has upside written all over it for today.
I believe we could even reach 12k before the end of the day.
Chances are we don't, and retrace at around 11.4 ish region.
In any case, dont expect BTC to drop to 7K any time soon, but i do see BTC falling to 8k near the end of this month, beginning of...
As we can see BTC is still going sideways pretty much after that last drop.
I believe that Bears would like to see more downside to bag up more corn, and bulls would like to rocket to the moon already.
One thing is for sure, BTC has a mind of it's own these past few days, and only wise man can tell where the ship is headed.
Let us all be careful in the next few...
As we can see, BTC could not clear the Kumo resistance yesterday or late this night during the pump.
More or less likeley it was a bull trap, but we did not retrace that far.
Expect multiple pump n dumps this sunday.
Bitcoin targets : 11.5 if this does not take place, look for 10k or high 9k region for testing support
Bitcoin seems to be getting out of the strangle hold it has been in the past hours.
We really do need to clear that cloud resistance though if we want to see more upside.
We have resistance on the way, but i think bitcoin can do it
Bitcoin never tends to amaze us.
I believe we still have room for some more up.
We haven't yet touched the fib above, so expect a further more pushing to 11k ish before a small retrace, and we will see from there
Bitcoin really wants up, but it can not get there for the time being.
Why? Multiple reasons, not enough buying pressure to punch through resistance.
But support seems to be holding for now.
We shall see in 15mns or so with the 4h close
Bitcoin currently struggling between two forces, support and resistance.
General indecision is still present.
When in doubt zoom out, and look at the bigger picture.
Make sure you have your SL's tight, and get ready to jump back in if it takes off boys!
Bitcoin is not in the best of shapes today.
General market indecision with small bullish tendency.
Will the bull be able to hold up with all the pressure?
I believe BTC is still bullish AF long term speaking.
I still believe BTC is in for more downside.
We did just take a big 1k candle, so we will at some point have a correction, needed or not, so beware.
I'm still looking at 8.8 or 9ish regions if we come back down to test previous support lines.
Time will tell!