BITCOIN My opinion on the current situation
I have marked the zone between which I change my mind for the future. Until the price accepted the daily closing above 69k, I was looking for a short setup, now that the price has accepted, I already have an open long position with already taken profit and it is almost at break-even with the rest.
As long as this zone shows support ,at the same time here I see the same Wyckoff view . I am of the opinion that like bitcoin, BTC.D has a similar chart where the decisive moment comes. I will show everything below.
We have to understand that the ATH price was, let's say, 69k. If we manage to close one day or even a week below. This means that we are entering one of the corrections. At the same time, any long correction was good after the shake out. Because the day simply closed above and why not take the chance in your hands for a short-term trade.
Studying psychology, I realized that we look at trade from different angles. Sometimes, even after half an hour, I think about why I entered at all, and I can't even remember the reason... That's why we look at it from two angles, because it can be either one or the other direction. We make analyzes in order to give ourselves a higher probability of success because, personally, I don't see trade as a gamble and if we fail, we will admit that we were wrong. You can't progress from success :)
If we go by the logic that this is a wickoff and that we have determined the AR zone (automatic rally) and also that we are above the ATH, we get the certainty that the zone up to 68k can be caught as a long (wick), but only if the day before that it did not close below 69k!! !
I hope that is clear. If the day -week closes below 69k, then the distribution has happened, the prices go much lower, be aware of that
On the other side, there is BTC.D which shows weakness, but as long as this zone holds, the Altcoin season will not start. Of course, don't forget that btc.d, as it shows when altcoin season, also shows when BTC.D is at its peak.
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As long as this zone shows support ,at the same time here I see the same Wyckoff view . I am of the opinion that like bitcoin, BTC.D has a similar chart where the decisive moment comes. I will show everything below.
We have to understand that the ATH price was, let's say, 69k. If we manage to close one day or even a week below. This means that we are entering one of the corrections. At the same time, any long correction was good after the shake out. Because the day simply closed above and why not take the chance in your hands for a short-term trade.
Studying psychology, I realized that we look at trade from different angles. Sometimes, even after half an hour, I think about why I entered at all, and I can't even remember the reason... That's why we look at it from two angles, because it can be either one or the other direction. We make analyzes in order to give ourselves a higher probability of success because, personally, I don't see trade as a gamble and if we fail, we will admit that we were wrong. You can't progress from success :)
If we go by the logic that this is a wickoff and that we have determined the AR zone (automatic rally) and also that we are above the ATH, we get the certainty that the zone up to 68k can be caught as a long (wick), but only if the day before that it did not close below 69k!! !
I hope that is clear. If the day -week closes below 69k, then the distribution has happened, the prices go much lower, be aware of that
On the other side, there is BTC.D which shows weakness, but as long as this zone holds, the Altcoin season will not start. Of course, don't forget that btc.d, as it shows when altcoin season, also shows when BTC.D is at its peak.
Leave a like if you like this free content
Comment:
here we go again ,we need at least one candle daily above 69500
Comment:
as long as the price is above 69400, this is how I look at the current chart. We have to distinguish a correction from a big dump. Now watch for the long zone from 69900 until 69300 if the setup is shown because that zone should be held
