After the massive sell off, it looks like Bitcoin is forming a bottom.
Would be surprised to see the wick lows invalidated after a very rapid decline. A gradual move higher towards the 50k area would be more probable.
This is where it will be important to watch. Further sideways consolidation or upward movement is most likely. However, there is downside risk...
Coins that accumulate slowly without much hype such as District Ox has gained my attention. Coiling in a small triangle, 4th touch so should see it break higher now. A 5th touch and further consolidation within the triangle would not be ideal.
Need to see good volume.
Found a nice little setup on SUSHI that i'm willing to take a small position on. Clean break and close above a horizontal level and re-test.
Price is peaking above which a good structure underneath for stops.
Break and close above the horizontal line could indicate a change of sentiment. May even look to enter on a retest of the horizontal line.
Larger diagonal break with volume would confirm. Setting a moderate target (green line).
All eyes on BTC.
Trading idea for a BTC long after a quick shakeout. Might not see the retrace but would form a bullish continuation pattern with targets above ATH's. If price returns to the circled area, will be watching closely for a long position (expecting volatility/volume).
Bitcoin is reaching the point where high highs are marginally smaller on lower timeframes. A correction is due. Will it correct here or higher? Don't know - but the R/R is great to take a short trade back to the point or breakout or Fib level.
Corrective move up during the week into a strong supply zone that triggered a descending triangle with a quick and strong move down. Would expect some cooling off here over the weekend and a another leg down.
RSI Divergence on the smaller time frames.
December lows on $BTC are in. Early 2020 rally to $10,000.
Re-test the breakout of channel, then everyone is a genius for spotting the inverse head and shoulders.
Breach 2019 ATH end of 1st quarter #bitcoin #Crypto