ANTICIPATING A NEUTRAL PATTERN HERE TO PLAY OUT. MY PERSONAL BIAS IS A BEARISH MOVE TO THE 21 WEEK EMA CURRENTLY AT 21K. THIS IS NOT FINANCIAL ADVICE AND NOT TRADE ADVICE. THE STRATEGY HERE IS TO PLAY THE BOUNCES OFF CONVERGING TREND LINES AND NOT TO TRY AND PREDICT WHICH WAY IT WILL GO. SUPPLY AND DEMAND ZONES ARE MARKED ON THE CHART. A BREAK UP WOULD LIKELY GET...
Hello all and good evening. In the last update i mentioned that btc would likely test the ath by the end of the year which we have now seen. The chance of a pullback here is extremely high. A move to the 21W EMA would be extremely bullish as this is also the 0.382 fib retrace.
Coming up on 11 years and only 2 red candles for BTC. $13,900 is the level we need to close in order to be repeating this same pattern for the last cycle. 3 years accumulation just like last time. If we are to follow this we should be testing the ATH by the end of the year and 2021 should be the start of another leg up. People are throwing some really large...
While this pattern is playing out expect equities and commodities to move down. If DXY breaks back above this trend line it will be bullish for the dollar and bearish things like Gold, stocks and Bitcoin. One should expect this trend line to flip as a resistance before continuing down.
This is not trade or financial advice.
If you have been following you would know we have been expecting this channel to be playing out since the $11,150 high.
Currently at the EQ of this channel with the resistance point at the next major supply area near 11.4k . Expecting a major sell off at this area but in my opinion is not an area to short, only to take profit on longs. We can see bearish...
I challenge anyone to find something bearish on this chart.
2+ year trend line broken and back tested.
Descending broadening wedge broken and back tested.
21W EMA support for 4th week in a row.
$10,550 critical resistance flipped as support.
Weekly stochastic RSI reset looking to cross bullishly.
Price tends to moves in channels and currently we are rising...
To me this looks like we are going to see a classic support / resistance flip. Bearish continuation for DXY into monthly demand which will be a medium term reversal area and the beginning of a strong deflationary period. This is the shakeout in equities before one more move to the upside coinciding with this final move down in DXY.
NASDAQ resistance now as...
Hello all and good evening to everyone!
If you have been following along you'll know that we have been tracking a weekly descending broadening wedge that has broken to the upside and since re-tested the resistance line now as support. We are currently flipping the 10k resistance level as support which is also our macro 0.618 golden zone. We can see price in a...
Where I believe we could be in this consolidation period if following a fractal pattern.
Here are some important levels i am watching in the near term. $10,900 - $11,000 is going to be critical moving forward.
Something to watch out for is this potential descending broadening wedge.
not trade or financial advice.
I will not be going into fundamentals. If you wish to discuss this feel free to DM me.
Lower highs and lower lows in a descending structure / downtrend after a major move is indicative of weakness. What we would be looking out for next is a possible bullish divergence to form on the daily chart for a reversal. Currently on the 1D chart we can see a bearish...