BTC continues its saga. I believe this is a corrective saga. Being corrective, I believe that the end to this saga is the attempt to have a beautiful bullish rally soon. The FED could help with this "rally". What a thing, right?
Monthly bias there is no change in strength, therefore the SETUP used still points to the bulls in the direction of this chart time.
On the weekly basis, as I have been saying for some time, we are within a corrective bearish pivot. In principle, everything was normal.
When faced with the daily bias, we have the situation in the image below, a bullish pivot, but with an arduous mission, to overcome the 68.4K region to continue with its upward trend without forming the C&H pattern. If you are unable to overcome this region, the correction may take place as shown in the image below.
I would like to share a thought of mine with you: "Things should be measured in the long term, but never forget that they start in the short term!
Do your analysis and good business.
Be aware, if you buy, use stop loss.
See other graphical analyzes below
Monthly bias there is no change in strength, therefore the SETUP used still points to the bulls in the direction of this chart time.
On the weekly basis, as I have been saying for some time, we are within a corrective bearish pivot. In principle, everything was normal.
When faced with the daily bias, we have the situation in the image below, a bullish pivot, but with an arduous mission, to overcome the 68.4K region to continue with its upward trend without forming the C&H pattern. If you are unable to overcome this region, the correction may take place as shown in the image below.
I would like to share a thought of mine with you: "Things should be measured in the long term, but never forget that they start in the short term!
Do your analysis and good business.
Be aware, if you buy, use stop loss.
See other graphical analyzes below
Comment:
While looking through my countless charts, I came across this one. A bullish pivot that the long-term chart indicated. The red lines are points of resistance on the way up. When prices are correcting, these same red lines are support points! Until yesterday, it looked like prices were trying to hold above a support at 60.6K. If you follow the SETUP logic, the loss of this support point at (60.6K) takes us to the next support point, the 47.9 region. What a thing, right? Is it really that much?
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