Hey guys, I'd like to present a potential bullish idea for BTC for the next two weeks. You can find a summary below:
4hr timeframe - potential TK cross recross above the cloud here, the strongest bullish TK signal out there and worth definitely keeping an eye out for.
This will allow us to break through the current resistance trendline and re-test the 0.618 fib...
Hey guys, as explained in the video, I feel there's great potential for a large BTC move within the next couple of weeks. I miss-read the chart at the end owing to the pressure of time, the correct support levels I highlighted were 4300 and 5500.
As always, ideas and feedback are welcome.
As always, there's likely something I've missed so feel free to leave any comments below! Apologies, it's my first video and I ran out of time slightly at the end.
The ending is supposed to mention the lower edge support level which matches up with the previous 8200 support zone. From there we can ride this zone up the pitchfork before re-testing the pitchfork...
The idea here is following the recent Wall St bonus news and new money flowing into BTC.
Bonuses are paid on Monday 15th, however paid in cheque which theoretically means a slight delay in the flow of money into the market.
I believe fomo/expectations of a bull run will push us up to the upper side of the pennant, before being rejected by the lower pitchfork...
The general idea is that BTC is slowly running out of steam and and overdue correction is inbound.
I'm expecting a 27-30% correction on BTC back to the Kijun-sen / Median line, however it could escalate further.
We've had multiple 'Alt seasons' within the past couple of weeks, and some large increases in strong alts - showing that they are more than capable of...
An almost identical repeat of the patterns/fractals at the start of November. We've had decent consolidation above the support line and are potentially due for a decent run of around 54%. Slightly delayed cycle to the previous one, however all key supports are have held well.
Analysis for my historical/journal purposes.
Potential Buy zone
Potential pullback channel:
Ichimoku still looking good on the 4hr timeframe, has been hugging the pitchfork channel well the past week and a bit, however we're in the over-bought/pivot zone, so some strong resistance could occur, suggesting price could swing...
Three Different targets:
1 & 2 (Aqua and Purple) - stacked N formations. Target zone $9,241 - $10,356 by end of Nov.
(This target zone is the area between each fib trend 1&2 on a 1:1 ratio. with Tend 1 (Aqua) being the upper limit and Trend 2 (Purple) being the lower limit.
3 - Potential new N...
Just a quick development idea:
Ichimoku cloud again- 1day timeframe: Still within the bullish T-K crossover with a new N formation forming (A,B,C,D). Price is high above the Kijun-sen again, but still relatively close to the Tenken, so perhaps potential for a spike? No resistance on the Chikou and still a strong bullish...
Ichimoku cloud - 1hr timeframe: TK crossover with an N formation forming (A,B,C,D). Price is high above the Kijun-sen despite consolidation and the Chikou Span has just broken the last point of resistance. The cloud is ready to swing to bullish.
Still learning TA and publishing for my historical records only.