Global Markets experienced major sell off today. While I believe strongly we are approaching the top on current market, i think it still has some more room to run.
Looking to start scaling into a trade at current prices from short term .618 fib level. Orders scaled down through 6720, for an overall average entry below 6750.
After strong push BTC consolidating at 8800 level being restricted by 50% Fib (6k-11.5k).
It possible this push continues to 9.6 level, however i expect some pull back. Currently finds support from 2Hr Cloud and previously broken Green Trendline.
Break of this Trendline is possible when top buyers have been exhausted. If the Green TL breaks into...
BTC looking to reverse current downtrend. Looking for potential support 10700 area with .5 Fib and 1 hr Kijun. Support also exists with 1 hr 50MA.
If 10700 support does not hold i am targeting an entry around 10500 which has 4/6 hr krijuns, top of 2 hour cloud and bottom of 15 min cloud.
BTC in bullish uptrend however oscilators are overbough on 1-4 hour TF's. 6-12 SRSI are low and rising.
Short term reversal expected to reset medium tf SRSI will likely follow bottom of one hour cloud and find support from previous resistance trendline at 10250 area. Break of this support should find additional support from 0.236 fib at 10089.
This should be...
Cloud support + Possible ascending wedge indicate bullish patter. This pattern is very similar to early January 3-8 movement.
- I am very new, posting so i can backtest. Open to any comments im sure this analysis could be incorrect.