Hi,,,
Today I will show you the anatomy of BTCUSDT using Dow theory chart patterns with RSI & Gann method and at the last I will put my opinion ,
First using Dow theory BTC trends are:
1- Primary bull trend
2- Secondary bearish trend
3- Minor bull trend
if we want to be in a secondary bull market we should close above 46K or we will stay at secondary bearish trend.
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Second using chart patterns:
1- BTCUSDT breaks the Primary descending channel small divergence (semi-positive).
2- BTCUSDT is inside the ascending triangle there is small divergence (semi-positive).
3- BTCUSDT is now inside small ascending channel and there no divergence (positive).
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Third using Gann methods + Fib extension :
First our main support at 33K,,,,
Second we are at very important resistance it is a cluster of 3 different Gann angles at almost 46K the same price to change the secondary bearish trend int bullish !!
if we want to crosse this level we need a big volume and HUGE bullish candle
if cross happened our first target is 57K and there is another cluster of 3 Gann angles and 0.618 fib extension so I highly recommend you to take your profit if we reach this level because we may have some correction before we continue our bullish market
NOTE: it might keep going up but in my opinion I do not think this will happen.
At the end my opinion is that we will break 46k after few days from now and it is very important that we do not lose our main support at 33K.
and if you have any opinion please feel free to share it in the comments below + if you like my analyze please give me a like and follow me @hazem44 for more
Have a nice day :)))
Today I will show you the anatomy of BTCUSDT using Dow theory chart patterns with RSI & Gann method and at the last I will put my opinion ,
First using Dow theory BTC trends are:
1- Primary bull trend
2- Secondary bearish trend
3- Minor bull trend
if we want to be in a secondary bull market we should close above 46K or we will stay at secondary bearish trend.
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Second using chart patterns:
2- BTCUSDT is inside the ascending triangle there is small divergence (semi-positive).
3- BTCUSDT is now inside small ascending channel and there no divergence (positive).
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Third using Gann methods + Fib extension :
Second we are at very important resistance it is a cluster of 3 different Gann angles at almost 46K the same price to change the secondary bearish trend int bullish !!
if we want to crosse this level we need a big volume and HUGE bullish candle
if cross happened our first target is 57K and there is another cluster of 3 Gann angles and 0.618 fib extension so I highly recommend you to take your profit if we reach this level because we may have some correction before we continue our bullish market
NOTE: it might keep going up but in my opinion I do not think this will happen.
At the end my opinion is that we will break 46k after few days from now and it is very important that we do not lose our main support at 33K.
and if you have any opinion please feel free to share it in the comments below + if you like my analyze please give me a like and follow me @hazem44 for more
Have a nice day :)))
Comment:
PLEASE CROSS IT
Comment:
We have break this level waiting for daily close
Comment:
using Dow theory our secondary bearish trend is now secondary bullish trend
my opinion is that we might retest the 46936 again and then continue going bullish
my opinion is that we might retest the 46936 again and then continue going bullish
