Bitcoin is breaking all kinds of metrics today, and I couldn't be happier to see.Is it leading the world markets?¿
Bitcoin is officially above all moving averages, If we close the monthly above the 21ema @ $7.450 I automatically will be full on long term bullish!
Congrats to all the crypto believers. we are strong!
Now to the technicals:
This idea will not only be about technicals, it will have my personal bias included.
We had a 4H golden cross , which was fiercely rejected , the usual action of algos tricking dumber algos into filling their orders;
After the death cross we visited the 1.236 Fib retracement and proceeded to retest the 4H 200 EMAs death cross ,...
The 🚀MSTS🚀 is finding reversal signs in all the medium/low timeframe. we might be poised for a pump. Holding a scalp I plan to close today.
My target is 6960$ 4H 200 EMA .The 7.000$ resistance and the ascending trendline which value is at I 7.370$ . will be looking to short at these values, but!
- There is alot of strength for a reversal showing.
We had a nice quick pump (caught by 🚀MSTS🚀), we probably took over leveraged shorts in this weekend mambo jambo we are all costumed to.
-retested the 0.382 Fib level
- retested descending trendline from the broken triangle formation
- perfect short at those levels
Now, are we mooning to 100k tomorrow? I think we shouldn't get ahead of ourselves, but what is...
This is the usual price behavior of a fakeout. Anyone shorting the pattern breaking should be careful until confirmation.
The next move will be a big one, either to the upside (7900-8000$) and to the downside (6900$-5500$), so, there is no need to take an extra gamble for a measely 100$
Bitcoin has had an amazing recovery.
62% up from the rejection point, what a ride.
Up to the 3 hours most indicators (Market Sniper Trading suite) are pointing to a pump. The divergences also point towards continuation, and we are forming a symmetrical triangle.
Now, enough of BullHopium! Reality is the larger timeframes set the trend and trading is about...
Bitcoin, as we know took a MASSIVE dump.
And we know all the crypto youtubers are screaming this is bullish...
The reallity is:
We had alot of bearish divergence confluence in alot of indicators
We death crossed, tested and rejected the cross in the 12h
Volume is falling while price is rising after a dump, which indicates shorts are closing, not that people are...