BTC UNTIL 2024 IN THE PAWS OF BEARS! CALM DOWN!
Hello everyone!
I will be laconic. Until today, the Bitcoin price repeats the 2018-2022 cycle, respectively, after it fails under the EMA, the goal will be a breakdown of support in the area of 25 000$
After the support in the area of 25 000$ is broken, my target is 0.786 fibo. That is, the round 20 000$, which everyone has already forgotten about, we can still see.
After the goal is achieved, this trading idea is considered invalid, as well as when fixing above 30 000$. I believe the local extremum has already been set, so even 29 000$ is already unlikely, we must now push down and implement a "bull trap" with bull liquidations up to the 2nd shoulder.
⚠️ Everything is on the chart 👀 - Good luck in making independent trading decisions and profit!
Goodbye!
I will be laconic. Until today, the Bitcoin price repeats the 2018-2022 cycle, respectively, after it fails under the EMA, the goal will be a breakdown of support in the area of 25 000$
After the support in the area of 25 000$ is broken, my target is 0.786 fibo. That is, the round 20 000$, which everyone has already forgotten about, we can still see.
After the goal is achieved, this trading idea is considered invalid, as well as when fixing above 30 000$. I believe the local extremum has already been set, so even 29 000$ is already unlikely, we must now push down and implement a "bull trap" with bull liquidations up to the 2nd shoulder.
⚠️ Everything is on the chart 👀 - Good luck in making independent trading decisions and profit!
Goodbye!
Trade closed: stop reached
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The price dropped to $26,541 at the moment, we saw a good daily close below the EMA.
The emerging downward momentum did not receive its further development for all the reasons we know, namely the fake news on October 16 about the adoption of the first spot BTC ETF. How would the market behave without this obvious vile manipulation? - I do not know, the question is rhetorical and does not make much sense.
As a technician, cause-and-effect relationships are absolutely not important to me, which is why the price has increased. The fact of the growth of quotations and how the market digested this growth is important.
An important extreme of $28,597 has been updated, behind which there was a clear stop for bears. Quotes soared to $30,625 (ByBit), the current price of $28,549 Fractal is broken.
Does this mean that Bitcoin will not fall? - NO!, until the key resistance in the $30,000 area is broken from above. But now the price is higher than my EMA and within the framework of this trading idea, it is not worth continuing to be a bear. You can now, of course, hope that the price will turn around and begin to fall, but hopes have killed more than one hundred traders. We need facts.
All the best to you, see you in the new trading idea! Goodbye!