A Realistic Bitcoin Forecast For March...let's have a look
🟡 WOW! There is a lot here.
I will keep it short and sweet, however, this is a more advanced analysis.
In my previous BTCUSD post, you'll see I'm still bearish overall until $42,250 gets hit, but the journey to get there may be an ugly one.
View it here ➡ BTC Sell The Hype Idea
You will see that I have a blue note at $51,520 and a red one at $47,500.
Both of these spots are where heavy amounts of volume came into the market. It was most likely institutional.
The reactions and power behind them prove the validity.
What I like right now:
🔴Bearish Clue - Imbalance is still not entirely filled
🔴Bearish Clue - Cleared a Daily high yesterday and reversed on it.
🔴Bearish Clue - Double top pattern, retail probably thinks long.
Logic: They should have stop losses around $47,500 and $42,000.
⭐$47,500 is important, it is the point of interest that started Feb 22. I believe we should see accumulation around this price because the banks
are not done building positions. It would make sense that if they wanted to go higher, they would at least buy up some stops right?
Think about the chatter of crypto right now, everyone has an opinion, some are buying, some are selling. What does this mean?
It means people are getting involved, which means trades/orders are getting placed, and when orders get placed, brokers are making commissions.
I'm thinking we sit in a dealing range until late next week. Might update around then.
This is for the crypto people out there.
I would still hold off on buying BTC...Gold looks like a better play anyway.
Once gold goes sub $1660. I will be posting about gold later today (maybe lol)
🙌 Make sure to follow if you enjoyed this analysis. I'm going to start posting 2-5 times a week.
👇 If you'd like to learn liquidity techniques please see below.
I will keep it short and sweet, however, this is a more advanced analysis.
In my previous BTCUSD post, you'll see I'm still bearish overall until $42,250 gets hit, but the journey to get there may be an ugly one.
View it here ➡ BTC Sell The Hype Idea
You will see that I have a blue note at $51,520 and a red one at $47,500.
Both of these spots are where heavy amounts of volume came into the market. It was most likely institutional.
The reactions and power behind them prove the validity.
What I like right now:
🔴Bearish Clue - Imbalance is still not entirely filled
🔴Bearish Clue - Cleared a Daily high yesterday and reversed on it.
🔴Bearish Clue - Double top pattern, retail probably thinks long.
Logic: They should have stop losses around $47,500 and $42,000.
⭐$47,500 is important, it is the point of interest that started Feb 22. I believe we should see accumulation around this price because the banks
are not done building positions. It would make sense that if they wanted to go higher, they would at least buy up some stops right?
Think about the chatter of crypto right now, everyone has an opinion, some are buying, some are selling. What does this mean?
It means people are getting involved, which means trades/orders are getting placed, and when orders get placed, brokers are making commissions.
I'm thinking we sit in a dealing range until late next week. Might update around then.
This is for the crypto people out there.
I would still hold off on buying BTC...Gold looks like a better play anyway.
Once gold goes sub $1660. I will be posting about gold later today (maybe lol)
🙌 Make sure to follow if you enjoyed this analysis. I'm going to start posting 2-5 times a week.
👇 If you'd like to learn liquidity techniques please see below.