Multi Timeframe Analysis
Hint: The BTC charts we published Nov 2021 to Jan 2022 continue to hold. BTC persistently tracks to expected levels at the 10k range. This is now made more real with the FTX fiasco.
Bearish Narrative:
1. Price was drawn to a bullish order block at 20k coinciding with the 3rd fibonacci target of a bearish harmonic pattern on the weekly chart . Order blocks are magnets for price. Price had breaken well below this zone.
2. Trader's Dynamic Index and MFI signifies bearish momentum. Money Flow index is turning down.
3. Daily and Weekly bearish divergence
4. Bitcoin miners shutting down as cost of operations have exceeded the gains
5. Binance backs away from FTX bailout. More pain in the industry
6. The final fibonacci level of support is $3964. Will you buy BTC at this price?
Await a confluence signifying a rejection from key levels such as order blocks and harmonic entries, then take a satisfying counter position. From this juncture, we update the next forecast.
Special note:
SOL could go to zero due to the 18.77M unstaking and market flooding
ETH could reach 750
ADA could reach 0.18
LTC could reach 29
DOT could hit 3
HBAR to 1c
QNT to 80
FTT definitely zero
The bottom is not yet in
Remember: life often disrespects charts so trade with caution
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Market order position upon the confluence of valid entry rules on the 4H or 1H chart.
-=ENTRY RULES=-
Trading philosophy: Don’t short at the lowest of the bearish momentum nor do you long at the peak of a bullish impulse. The safest entries are at the end of a retrace on the 38.2%, 50%, 61.8% or 78.6% fibonacci back in the direction of the master trend.
Note: I use Daily/4H or 4h/1H market structures with wave analysis to prep for potential entries. The RSI , MACD and EMA indictors are confirmation for entries at the 4H or 1H timeframe
For Institutional ORDER BLOCK trades:
When price reaches a bearish or bullish orderblock, ascertain the price reversal by means of
1. Dojis
2. Morning/evening stars
3. Several wicks.
4. Engulfing candles or three white soldiers in the opposite direction
5. Marbouzou in the opposite direction.
6. Break of trendline or fast EMAs
For SHORT:
4H chart should confirm that the bullish retrace had turned bearish in the direction of master trend. The MACD should have dropped below zero signifying a bearish environment. Price would have dropped below the 10 and 20 EMA . For good measure, check that the 4h and D1 RSI is below the 50 signal line
For LONG:
4H chart should confirm that the bearish retrace had turned bullish in the direction of the master trend. The MACD should have gone above zero signifying a bullish environment. Price had gone above the 10 and 20 EMA . For good measure, check that the 4h and D1 RSI is above the 50 signal line
Divergences:
The 4H, 8H and 12H chart can reveal hidden divergences on the RSI , MACD , Money Flow Index, CMFI, On Balance Volume and Stochastics. When one or more divergences manifest- be ready. Trend reversal is coming. My best practice is to wait for at least an RSI divergence on the 4H, then drop to M15 to see price shifting with a 50EMA aligned with the 4H divergence.
About me
I am not a financial advisor nor a signal provider. These are the opinions of a 20-year private trader in the legal profession as well as a businessman diversified in the tech and hospitality industries. My favored tools of the trade include wave analysis, price action on the 4H to Weekly timeframes and institutional order flow ( COT data).
In partnership with capital markets research group Plazo Sullivan Roche Capital of Mahe, Seychelles
Hint: The BTC charts we published Nov 2021 to Jan 2022 continue to hold. BTC persistently tracks to expected levels at the 10k range. This is now made more real with the FTX fiasco.
Bearish Narrative:
1. Price was drawn to a bullish order block at 20k coinciding with the 3rd fibonacci target of a bearish harmonic pattern on the weekly chart . Order blocks are magnets for price. Price had breaken well below this zone.
2. Trader's Dynamic Index and MFI signifies bearish momentum. Money Flow index is turning down.
3. Daily and Weekly bearish divergence
4. Bitcoin miners shutting down as cost of operations have exceeded the gains
5. Binance backs away from FTX bailout. More pain in the industry
6. The final fibonacci level of support is $3964. Will you buy BTC at this price?
Await a confluence signifying a rejection from key levels such as order blocks and harmonic entries, then take a satisfying counter position. From this juncture, we update the next forecast.
Special note:
SOL could go to zero due to the 18.77M unstaking and market flooding
ETH could reach 750
ADA could reach 0.18
LTC could reach 29
DOT could hit 3
HBAR to 1c
QNT to 80
FTT definitely zero
The bottom is not yet in
Remember: life often disrespects charts so trade with caution
------
Market order position upon the confluence of valid entry rules on the 4H or 1H chart.
-=ENTRY RULES=-
Trading philosophy: Don’t short at the lowest of the bearish momentum nor do you long at the peak of a bullish impulse. The safest entries are at the end of a retrace on the 38.2%, 50%, 61.8% or 78.6% fibonacci back in the direction of the master trend.
Note: I use Daily/4H or 4h/1H market structures with wave analysis to prep for potential entries. The RSI , MACD and EMA indictors are confirmation for entries at the 4H or 1H timeframe
For Institutional ORDER BLOCK trades:
When price reaches a bearish or bullish orderblock, ascertain the price reversal by means of
1. Dojis
2. Morning/evening stars
3. Several wicks.
4. Engulfing candles or three white soldiers in the opposite direction
5. Marbouzou in the opposite direction.
6. Break of trendline or fast EMAs
For SHORT:
4H chart should confirm that the bullish retrace had turned bearish in the direction of master trend. The MACD should have dropped below zero signifying a bearish environment. Price would have dropped below the 10 and 20 EMA . For good measure, check that the 4h and D1 RSI is below the 50 signal line
For LONG:
4H chart should confirm that the bearish retrace had turned bullish in the direction of the master trend. The MACD should have gone above zero signifying a bullish environment. Price had gone above the 10 and 20 EMA . For good measure, check that the 4h and D1 RSI is above the 50 signal line
Divergences:
The 4H, 8H and 12H chart can reveal hidden divergences on the RSI , MACD , Money Flow Index, CMFI, On Balance Volume and Stochastics. When one or more divergences manifest- be ready. Trend reversal is coming. My best practice is to wait for at least an RSI divergence on the 4H, then drop to M15 to see price shifting with a 50EMA aligned with the 4H divergence.
About me
I am not a financial advisor nor a signal provider. These are the opinions of a 20-year private trader in the legal profession as well as a businessman diversified in the tech and hospitality industries. My favored tools of the trade include wave analysis, price action on the 4H to Weekly timeframes and institutional order flow ( COT data).
In partnership with capital markets research group Plazo Sullivan Roche Capital of Mahe, Seychelles