Bitcoin is currently in a bearish daily market structure, but H4 has flipped bullish, therefore looking for reasons to long at/near support is viable. RSI is printing a Hidden bullish Divergence as well.
With gas prices at an extreme high, driven also by inflation, monitoring crude oil became even more interesting recently.
Lower timeframes broke down nicely, H6 went into bearish market structure recently and as of yesterday, price was below $100.
Daily support below marks a significant level, price action around the support area will point towards the coming...
A lot of people, if not most people, are hoping that the bottom is in. Truth is, for a range shift - meaning BTC going from bear to bull structure again, I'd prefer to see one more push down below the current low with a significant bullish divergence.
So with this setting in my mind, I'm watching for a specific scenario. Nobody knows what happens next, so let's...
ATOM, just like most other coins still has a bearish market structure on the daily timeframe. But 4H is successfully holding a bullish market structure. I'm expecting a push upwards towards the golden pocket of the recent downward move, peaking at max at $15.
We might see a range shift afterwards, meaning a confirmation of the current overall bottom, but I am...
Trend is your friend. over the course of the past weeks we've seen clear indications of Bitcoin going down or pulling back. as a trend trader, you had plenty of opportunities to make profits in the market.
Trend also gave us opportunities with other coins, but trend also warned us of fading bull strength (e.g. Luna)
My current trend assessment for BTC assesses a Bearish Pullback Trend.
Bearish pullback: The bearish trend is taking a break. This might be a correction (‘dip’) or a trend change.
Usually, pullbacks bring the best opportunities to enter a trending market. Lower timeframe market structure breaking away towards a bearish trend would indicate continuation.
Last week we determined $55.600 to be our crucial level of resistance for the time being. On Friday, due to the COVID mutation Omicron news, Bitcoin slashed through that support, BUT: it found support at the next logical level with $53.617, which was a fantastic entry level if you are holding long term.
I made a video about the situation and why I remained calm...
Quick morning $BTC update: held the crucial support and is now working its way back upwards.
4h bullish divergence confirmed so far and we entered extreme fear territory.
Previous support above (green) turned into resistance now.
Want to get over $58k.
Best play is to wait and be patient. This is no mans land basically right now.
Similar stories with most coins today. BNB corrected as well, offering a nice entry around $504. Congrats if you caught that one! It looks very similar to Ethereum, with a local high and new local higher low potentially forming. The EMA45 (pink) could be a potential bounce zone.
In trading, sometimes you are right, sometimes you are wrong. Accepting this is key.
With that said, most of my indicators tell me that $IOTA is ready for a big move up. Even tuned down to simple TA, this is classic consolidation below resistance.