Complete Technical Analysis on BTCUSD (V) [Swing Strategy]

Swing: The Bearish Cycle is dominant both on Weekly and Monthly Timeframe. When the Reverse to the Downside (Downtrend) is confirmed and begins, Lower Highs as well as Lower Lows will be achieved. Provided that King's Crown Chart Pattern (Head and Shoulders) is fully formed on the Daily Timeframe, and that the Price will break the Counter Trendline on the Weekly Timeframe, we expect an Impulsive C-D Zone to the Downside with an Indicative size of 1500 pips on the Weekly (The Pip Term refers to the Forex Market). Since the Market will be forming Lower Highs and Lower Lows, we expext that it will break low B at the level ($3,313.40) no matter how fast or slow the Market moves. We applied the Fibonacci Retracement both to A-B and B-C Moves (Fibonacci Cluster) and notice that levels 50.0% and 0.236% converge at the level ($11,346.10). But we talked earlier about that level, it really served as Support and Resistance in the past and now the Price respects that level. It tried to go higher only to make a Pullback and leave some Spikes in the end. We had multiple confirmations for that level. If we look at levels 1.18 and 1.27 of Fibonacci, we find out that they converge too at the level ($249.50). That level also served as Support and Resistance in the past. We should say that levels 1.382 and 1.618 give us negative values. More importantly, at the level ($249.50), Price will have have touched the Lower Bollinger Band on the Monthly at about ($550.00). So that we, in combination with a future Bullish Crossover of the Stochastics, get the Valid Bullish Signal on the Monthly Timeframe! The Real and Massive Bullrun will take place after the Price has touched the Lower Bollinger Band on the Monthly. In Conclusion, We have Pointed Out a Support / Resistance Level Of Multiple Statistical Importance.

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FX Bratislavas