Bitcoin broke into the 'old' H&S neckline resistance.
The 4h timeframe shows a possible bullish continuation scenario. Means the old neckline is a support zone for this scenario.
The weekly MACD shows a smooth increase of momentum, what is supportive for that scenario.
While the 4h and weekly patterns correspond, the daily does not. Means we have a lower and a higher timeframe telling us a different story. We can use this to make a possible bearish scenario on the timeframe in between. In this case the daily timeframe.
The thick yellow trendline is mostly overlooked by pretty much any trader since November 2021. We drew and used that trendline since then.
Bitcoin has hit the Daily EMA 300 and the yellow Trendline, both is to be considered as strong restistance at this moment.
Quick reminder, a 'Moving Average' is where Buyers and Sellers meet.
TL;DR: Bitcoin is at another point of decision.
- A likely possiblity is a pullback to lower 40k price levels and then a bullish continuation into the unknown of time.
My last monthly idea is still valid and to keep in mind. A possible bearish scenario could be the continuation of the used fractal of the 'Bars Pattern Astrology II (bearish)' idea. Why? because the actual Price Action matched so well that it has to be considered as possibility.
Past idea:
The 4h timeframe shows a possible bullish continuation scenario. Means the old neckline is a support zone for this scenario.
The weekly MACD shows a smooth increase of momentum, what is supportive for that scenario.
While the 4h and weekly patterns correspond, the daily does not. Means we have a lower and a higher timeframe telling us a different story. We can use this to make a possible bearish scenario on the timeframe in between. In this case the daily timeframe.
The thick yellow trendline is mostly overlooked by pretty much any trader since November 2021. We drew and used that trendline since then.
Bitcoin has hit the Daily EMA 300 and the yellow Trendline, both is to be considered as strong restistance at this moment.
Quick reminder, a 'Moving Average' is where Buyers and Sellers meet.
TL;DR: Bitcoin is at another point of decision.
- A likely possiblity is a pullback to lower 40k price levels and then a bullish continuation into the unknown of time.
My last monthly idea is still valid and to keep in mind. A possible bearish scenario could be the continuation of the used fractal of the 'Bars Pattern Astrology II (bearish)' idea. Why? because the actual Price Action matched so well that it has to be considered as possibility.
Past idea:
Comment:
whoops, I published the idea in linear scale, the yellow trendline has a price difference of around 4.5 % in log scale.
Comment:
Update on the past fractal chart idea and here the daily 69k top fractal on the current 4h chart
Comment:
Bitcoins biggest 'green' daily candle in a long time.
It could be the start pump of a longer uptrend. The daily and weekly momentum look pretty good for it. Monthly is kinda meh but we will see and trade whatever.
It could be the start pump of a longer uptrend. The daily and weekly momentum look pretty good for it. Monthly is kinda meh but we will see and trade whatever.
Comment:
Bitcoin is at a daily Resistance (price level, EMA 300 and yellow log scale trendline).
A possible bearish scenario on the 4h tf.
The fractal is from the 4h timeframe 20. Dec 2021 to 4 Jan 2022.
A possible bearish scenario on the 4h tf.
The fractal is from the 4h timeframe 20. Dec 2021 to 4 Jan 2022.
Comment:
For the records, the daily log scale snapshot
Comment:
Strong rejection from the resistance.
Comment:
Weekly is not closed but a clear rejection from multiple indications (Weekly EMA Cloud, Trendline, Resistance Zone)
Comment:
Once again we meet that yellow trendline.
The daily 300 EMA resistance is still a bit higher up, means a possible breakout is very likely.
The daily 300 EMA resistance is still a bit higher up, means a possible breakout is very likely.
Comment:
Price did "breakout" from the yellow trendline and is at the 300 EMA decision point (current resistance).
If you want to short this, don't do it too early. The weekly supports a continuation for a longer uptrend.
If you want to short this, don't do it too early. The weekly supports a continuation for a longer uptrend.
Comment:
'random lines'
Comment:
New bearish trendline shapes a new potential pattern
Comment:
Beautiful isn't it
