Real quick. If we see an impulse down I'm expecting the RexDog Average and the 50% of the lower value channel to hold up for "support". I don't expect this to hold long term but would fit my criteria for a swing or scalp if lower timeframe algo switches to momentum long.
Short down if you see it. Long at key levels or below key lows for upward...
I'll be doing something different this week. I figured I'd do a rolling analysis of Bitcoin as the price action unfolds.
I'll do this by posting updated comments at key reaction points or as price action unfolds.
Most of this price action will be on the 1HR timeframe.
But I'll also cover key daily levels as well as some lower time frame analysis if it makes...
With the market sell off this week I'm looking to see if BTC impulses down 10-15% over the weekend.
SO far on 60m that looks to be in the cards.
We have the momentum indicators going algo short.
We have a close below the Rex Dog Average (yellow).
All this points to momentum short action and change in 1HR algo.
As I write this 1HR is reacting off the 200ME/EMA...
Few things to point out on current BTC value range.
So far BTC is in a 42 day 13-15% range with an upper excess of 5%.
This time in channel is above the typical 13-15% value range timeframe.
Generally when BTC enters a range from the low it has a higher probability of ending the range with a break to the high of the range.
If we measure the value range from...
So far the daily is still showing weakness.
It looks like maybe there is a RDA test in the cards. Especially if the previous week open fails twice on lower time frame.
RDA aligns well with level as well.
I'm still looking for sub 100 SOL.
I'm convinced Bitcoin will go thru a 3rd crisis.
This is a sneak peak of my conclusion of where this 3rd crisis will occur.
With my up and coming Ultimate Bitcoin Analysis I'll be sharing the dates and data on the first 2 crises.
I'll also share how I see the data and how I see the 3rd crisis unfolding and the ultimate outcome.
Bottom line on all my research...
Outlined are the key upward reaction points I'm watching for Bitcoin.
Everything is highlighted on chart.
When I say reactions-- I use these very simple levels as areas to watch lower timeframes (5m, 30m, 1HR) for momentum shift using the RexDog Trading System (not on chart).
Currently Bitcoin is momentum long with a roughly 5% upward impulse coming off 2...
Here's what I'm looking at here the next 24 hours or so.
Short above 34K or so to RDA test -- clear area for stop on close.
Long below 31,6 or so.
I'll only execute this if lower timeframes change to confirming momentum.
In this video I share my current read of the market. We cover the daily timeframe and talk about where the eventual target might be. This is not a prediction video this is me sharing how I use my trade system to interpret what the chart is telling me at the is the moment. Sure I use my experience and market psychology but this is mainly me sharing my trade system...
In this video I break down the current state of ETH. Where I see potential high probability trades as well as possible downside support if the sell-off continues.
We start with the daily timeframe-- but move to what is happening on the hourly and where a potential short opportunity exists. From there we look at both downside and upside opportunities.
Here is what I'm looking at for a LTC buy zone pullback. Aligns with measured moves, VCs, latest impulse move. LTC has been using the 24EMA price as a pull back support zone (within 3-4%). This pullback zone aligns with monthly open as well as mean of value ranges.
Targets are just shy of 200.