Hello everyone I'm going to start sharing my crypto analysis because people keep calling me a larp and a scammer when I try to share my opinions in this god awful chatroom so here we go.
Some things to know:
BTC has had one of its largest 1 week green candles to date relative to current price bringing us up into the 21k range.
This is a very popular and closely watched zone by many crypto investors, widely considered to be a key level in bull market sentiment if not levels like 24k for example.
BTC has made it up to 'pre FTX crash levels', also SBF does not have his trial until October.
Now onto the chart itself,
BTC has been in this range for over 48 hours now and has been ranging with strong reactions around 20675 and 21000, Throughout this we have failed to confirm such as a bull flag and pennant but continues to follow trend with very strong bounces. Will all this being said I continue to hold a bullish sentiment throughout this tight range until we have a candle close below trend on 1h and 4h. If so I think its safe to assume micro bearish with a likely pullback to 18.5k as rejecting from here will keep us in the 21k-18.5k range which can be clearly seen on daily charts.
As of now I am out of all long positions and will look for an entry with confirmed range breakout.
Not financial advice just reasoning behind my sentiment, thanks.
Some things to know:
BTC has had one of its largest 1 week green candles to date relative to current price bringing us up into the 21k range.
This is a very popular and closely watched zone by many crypto investors, widely considered to be a key level in bull market sentiment if not levels like 24k for example.
BTC has made it up to 'pre FTX crash levels', also SBF does not have his trial until October.
Now onto the chart itself,
BTC has been in this range for over 48 hours now and has been ranging with strong reactions around 20675 and 21000, Throughout this we have failed to confirm such as a bull flag and pennant but continues to follow trend with very strong bounces. Will all this being said I continue to hold a bullish sentiment throughout this tight range until we have a candle close below trend on 1h and 4h. If so I think its safe to assume micro bearish with a likely pullback to 18.5k as rejecting from here will keep us in the 21k-18.5k range which can be clearly seen on daily charts.
As of now I am out of all long positions and will look for an entry with confirmed range breakout.
Not financial advice just reasoning behind my sentiment, thanks.
Trade closed: stop reached:
Idea invalidated, retrace to lower levels imminent
With a trial date so far in the future the upcoming few months are not likely be affected by FTX fud with little to no new updates in his case.