Hi everyone,
Yesterday we talked about different chart patterns and candlestick patterns that we are seeing on a higher time frame.
News are reporting wallets being stolen, exchanges being hacked, people are holding in external keys,...
So what is going on? Are we going to dump one more time? Well, the answer is most probably yes. On a fundamental level, we have some really bad news coming out, and people are panicking because of cyber attacks. However, we should always remember that news lag price, like an indicator. Have you ever heard bad news in bullish moves? Of course not. Therefore, these news might be coming out because of the red days that we had this week so far.
On a technical level, we are looking at different higher time frame bullish reversal patterns, as we said in our latest post (link down below), so we could confirm that we are bullish at least on the midterm. So what about the short term? Are we bullish? looking at the chart today on a lower time frame (H4), we noticed that we have bearish head and shoulders pattern, so we might be going reach the 21400 demand level before the end of this week.
Another notice that, right now, price is taking out the liquidity below yesterday's support, which usually happens after seeing clean lows in a row.
In conclusion, we are still bullish on the midterm at least, but we are bearish on the short term.
Please comment if you have any questions, I will try my best to answer them.
Thank you😊
Yesterday we talked about different chart patterns and candlestick patterns that we are seeing on a higher time frame.
News are reporting wallets being stolen, exchanges being hacked, people are holding in external keys,...
So what is going on? Are we going to dump one more time? Well, the answer is most probably yes. On a fundamental level, we have some really bad news coming out, and people are panicking because of cyber attacks. However, we should always remember that news lag price, like an indicator. Have you ever heard bad news in bullish moves? Of course not. Therefore, these news might be coming out because of the red days that we had this week so far.
On a technical level, we are looking at different higher time frame bullish reversal patterns, as we said in our latest post (link down below), so we could confirm that we are bullish at least on the midterm. So what about the short term? Are we bullish? looking at the chart today on a lower time frame (H4), we noticed that we have bearish head and shoulders pattern, so we might be going reach the 21400 demand level before the end of this week.
Another notice that, right now, price is taking out the liquidity below yesterday's support, which usually happens after seeing clean lows in a row.
In conclusion, we are still bullish on the midterm at least, but we are bearish on the short term.
Please comment if you have any questions, I will try my best to answer them.
Thank you😊
