If you long, you wong.
But I guess you can long to 6680, although that would be pretty risky considering we *could* pop below support at 6100 and trigger an infinite amount of stops, causing us to spiral into another dimension of BTC price discovery.
Or just wait until 4200 to buy BTC. That works too.
$7440 going to be crucial. Trend resistance, order block, .628 fib re-trace, and high volume node.
Will be taking full profit @ 7440
Massive deep pockets loading on BTC shorts, and hot fresh tether printed. Someone with more money than us is going to make a big move.
Can only hope the consolidation happening in the ascending triangle will bust through to test the .236 fib level again, before coming back to test the top of the triangle. If that happens, and top of triangle holds, we may have enough momentum to break through .236 fib.
Try not to fill yourself with too much hopium, however. If volume doesn't support breakout,...
The bull run was fun. But one can only sprint for so long before having to take a break.
Price retraced with absolute precision to the .236 Fib level ($9600), and bounced hard off it. .236 is not a strong retrace level unfortunately, signaling this bear trend is still strong.
Basically, the retrace took us back to a High Value Node at $8850, and price is trying...
There's a reason we shouldn't be desperate. Any of these pumps, to the desperate, looks like a shimmering light at the end of the tunnel, leading us back to $20k land.
But it's just a freight train coming our way. (queue Metallica song).
OBV shows divergence. Something stinks about these long green candles.
BB tightening up, ready to dump us down to...
YOU CANT KILL BITCOIN
3/18: $7500 on the weekly chart. i don't see us falling much lower although we might get wicked down there.
Then a nice increase on the weekly up to $11.7k, even breaking the strong downtrend line develops from December.
At this point, we'll see true capitulation-- as we see bitcoin "die" down to $4k, even wick down to $2600 area.
A short term opportunity to go long on BTC. BTC had rejection at $9400.
Based on volume profile, we can expect retrace to $10230, before again falling to $9735. Go long. Close position @ $10600
Stops at $9400.
Careful--still medium term bearish.
Of course it isnt... Still long term bullish #HODLsquad.
But bulls failed to break heavy resistance line yesterday at $11,700.
So I'm looking at volume profiles to find critical support.
The market profile #1 Point of Control (POC) at $11050 has broken on the 4 hour. Will confirm bearish if it closes below on the daily. On the 4 hour, RSI is not oversold, but...