btc : FA seems bullish with the miami event upon us
while i slept btc broke down the wedge like i said it would, going low as 35k which happpens to be a major demand zone., as expected price was rejected from this area and there was a 5 percent move up
I use 3 time frames the 4hrs 1hr and 15min i also use ichimoku and bollinger bands
Ichimoku analysis :
atm price is sitting on the ichimoku cloud in the 4hrs suggesting that we are still on our way up , however the baseline is at equilibrum with the conversion line if it happens to cross up then its a clear sell signal but right now we are still in the buy zone coupled with the stoch rsi being oversold (also buy)
chart pattern :
looks like a head and shoulder might be forming on the 4hrs which could make price retest the support of the wedge before falling again (nb the support of the wedge is 38k region which is only 3%%) and if the head and shoulder doeasnt hold price might breakout and we will be well on our way back to 43k lower high
price is at the mean of the bb which serves as some kind of resistance
the logical thing is to watch it all pay out skip the potential 3% gain if you already missed the demand area
watch for breakout or break down
N.b the ichimoku is quite unreadable which suggest that price is in a range
please drop a like if you find this helpfull
remember to buy confirmed breakouts
trade only areas of value
avoid shitty risk to reward
avoid the do nothing area lol!!
while i slept btc broke down the wedge like i said it would, going low as 35k which happpens to be a major demand zone., as expected price was rejected from this area and there was a 5 percent move up
I use 3 time frames the 4hrs 1hr and 15min i also use ichimoku and bollinger bands
Ichimoku analysis :
atm price is sitting on the ichimoku cloud in the 4hrs suggesting that we are still on our way up , however the baseline is at equilibrum with the conversion line if it happens to cross up then its a clear sell signal but right now we are still in the buy zone coupled with the stoch rsi being oversold (also buy)
chart pattern :
looks like a head and shoulder might be forming on the 4hrs which could make price retest the support of the wedge before falling again (nb the support of the wedge is 38k region which is only 3%%) and if the head and shoulder doeasnt hold price might breakout and we will be well on our way back to 43k lower high
price is at the mean of the bb which serves as some kind of resistance
the logical thing is to watch it all pay out skip the potential 3% gain if you already missed the demand area
watch for breakout or break down
N.b the ichimoku is quite unreadable which suggest that price is in a range
please drop a like if you find this helpfull
remember to buy confirmed breakouts
trade only areas of value
avoid shitty risk to reward
avoid the do nothing area lol!!
