Things im seeing on BTC at ~41k USD
General
10% drop from local top after couple months of moving up.
Liquidated about 450 million longs which is notable as it hasnt had a large liquidation like that in months. Cleared the gamblers and got the bounty.
Are we going to have one more drive down to find a weekly Higher low or are we going to bounce right here off the 60D trendline and keep going up?
Monthly
Uptrending - bullish (There has been like 3 clear uptrends in the history of BTC and each one has led to all time highs and multiple x gains)
RS Zone - entering into the chop which happened at all time high double top at the end of 2021, so care needs to be taken
Wick rejection below monthly 48k resistance forming - bearish, but lots of time in the month still left to change that
Volume - nothing special - neutral - typical for EQ +1 point for long term EQ forming
RSI uptrending - bullish
Above M8EMA - bullish (will we need to retest it?)
Fibs - retraced to above 0.5fibs but so far rejected - neutral
Weekly
Uptrending - bullish but we need to find a higher low with lots of space down - 35% possible to form it (8 green candles in a row never happened before so this candle forming is likely going to be red)
RS zone - same as monthly chop from end of 2021, small RS support zone from 38-35k
Volume - rising on the green candles - bullish
RSI - uptrending, looking for higher low, went up to 83 and now coming back down at ~72 - Bullish, but we need to cool it off some more optimally to continue bull market
W8EMA close-ish below acting as support at around 38-39k - bullish
Fibs - so far only dropped down to about 0236, if bulls can hold it, thats super bullish, 0382 comes in at 37k which confluences with RS zone + 8EMA if its a wick down
Daily
Bear break from the uptrend, but havnt started the downtrend yet - neutral
RS zone - same as weekly coming at 38-35k about 6%-15% below
Volume - bear volume injection on the 10% dump - bear
RSI had 3x bearish divergence from very overbought levels of ~80 which seems to be playing out now, with RSI coming back down to ~55 - neutral
D8EMA broken and acting as resistance - bear
Trendline of 60D supporting here - bull
4HR
EQ after bear move - neutral
Bounce bull volume is lower than bear volume - bear
RSI got oversold and now bounced to 35, there shouldn't see too much bear followthru if we get oversold again on 5,15,1hr,4HR, especially if we are getting closer to RS zone of 38k - buy zone
8EMA acting as resistance everytime we touch it - bear guide
General
10% drop from local top after couple months of moving up.
Liquidated about 450 million longs which is notable as it hasnt had a large liquidation like that in months. Cleared the gamblers and got the bounty.
Are we going to have one more drive down to find a weekly Higher low or are we going to bounce right here off the 60D trendline and keep going up?
Monthly
Uptrending - bullish (There has been like 3 clear uptrends in the history of BTC and each one has led to all time highs and multiple x gains)
RS Zone - entering into the chop which happened at all time high double top at the end of 2021, so care needs to be taken
Wick rejection below monthly 48k resistance forming - bearish, but lots of time in the month still left to change that
Volume - nothing special - neutral - typical for EQ +1 point for long term EQ forming
RSI uptrending - bullish
Above M8EMA - bullish (will we need to retest it?)
Fibs - retraced to above 0.5fibs but so far rejected - neutral
Weekly
Uptrending - bullish but we need to find a higher low with lots of space down - 35% possible to form it (8 green candles in a row never happened before so this candle forming is likely going to be red)
RS zone - same as monthly chop from end of 2021, small RS support zone from 38-35k
Volume - rising on the green candles - bullish
RSI - uptrending, looking for higher low, went up to 83 and now coming back down at ~72 - Bullish, but we need to cool it off some more optimally to continue bull market
W8EMA close-ish below acting as support at around 38-39k - bullish
Fibs - so far only dropped down to about 0236, if bulls can hold it, thats super bullish, 0382 comes in at 37k which confluences with RS zone + 8EMA if its a wick down
Daily
Bear break from the uptrend, but havnt started the downtrend yet - neutral
RS zone - same as weekly coming at 38-35k about 6%-15% below
Volume - bear volume injection on the 10% dump - bear
RSI had 3x bearish divergence from very overbought levels of ~80 which seems to be playing out now, with RSI coming back down to ~55 - neutral
D8EMA broken and acting as resistance - bear
Trendline of 60D supporting here - bull
4HR
EQ after bear move - neutral
Bounce bull volume is lower than bear volume - bear
RSI got oversold and now bounced to 35, there shouldn't see too much bear followthru if we get oversold again on 5,15,1hr,4HR, especially if we are getting closer to RS zone of 38k - buy zone
8EMA acting as resistance everytime we touch it - bear guide
Stop loss in
