Hello lads,
I wanted to do an analysis to share with you what I saw in the chart and I consider it seriously interesting, they are signals that can determine the strength of the supports also for the future and tell us if the current price begins to approach the minimum phase.
So let's start with a Weekly TF, the trendline shows that up to at least 30k we are in the Bear Market, so don't get too excited if you see bounces below this threshold, because remember that even if we increase the resistance reached every time someone downloads positions being that, at that price, someone bought.
After 30k we will talk about it again, to date the first very important step on the TF W is the 200 MA to be recovered at about 25k, so I remain short on the medium short.
Moving on to TF Dayli, there are interesting conformations.
At the moment we are in and in the middle of a channel that, despite the inflation rate, has nevertheless marked a Lower High and this should not be underestimated, a positive sign.
I have drawn the 3 channels of the last 3 dumps made and as you can see the supports are starting to be more and more resistant and this can mean that we are almost at the minimum on the price of BTC.
1st channel: all channel support is made up of Lower low
2nd channel: support composed of Lower low and Lower High (mixed)
3rd Channel: support composed of all the lower treble.
The meaning I give to this conformation is that BTC right now is in a Bear phase only because of the news and not for its technology or for lack of interest in the market but at the moment it resists well at 20k.
I believe that in the short term we will have the rupture of the channel retested for now 2 times both in the Top and in the Bottom and it could happen towards the end of July in conjunction with the increase in percentage points (FED).
I believe that BTC still has a step to go down and at least touch the CLUSTER on the Dayli at 15 / 16k if all goes well, but if the news is continuously negative I confirm that my Bottom does not exceed 12k VERY STRONG CLUSTER on the weekly.
Let's see and for now I stay Short.
I wanted to do an analysis to share with you what I saw in the chart and I consider it seriously interesting, they are signals that can determine the strength of the supports also for the future and tell us if the current price begins to approach the minimum phase.
So let's start with a Weekly TF, the trendline shows that up to at least 30k we are in the Bear Market, so don't get too excited if you see bounces below this threshold, because remember that even if we increase the resistance reached every time someone downloads positions being that, at that price, someone bought.
After 30k we will talk about it again, to date the first very important step on the TF W is the 200 MA to be recovered at about 25k, so I remain short on the medium short.
Moving on to TF Dayli, there are interesting conformations.
At the moment we are in and in the middle of a channel that, despite the inflation rate, has nevertheless marked a Lower High and this should not be underestimated, a positive sign.
I have drawn the 3 channels of the last 3 dumps made and as you can see the supports are starting to be more and more resistant and this can mean that we are almost at the minimum on the price of BTC.
1st channel: all channel support is made up of Lower low
2nd channel: support composed of Lower low and Lower High (mixed)
3rd Channel: support composed of all the lower treble.
The meaning I give to this conformation is that BTC right now is in a Bear phase only because of the news and not for its technology or for lack of interest in the market but at the moment it resists well at 20k.
I believe that in the short term we will have the rupture of the channel retested for now 2 times both in the Top and in the Bottom and it could happen towards the end of July in conjunction with the increase in percentage points (FED).
I believe that BTC still has a step to go down and at least touch the CLUSTER on the Dayli at 15 / 16k if all goes well, but if the news is continuously negative I confirm that my Bottom does not exceed 12k VERY STRONG CLUSTER on the weekly.
Let's see and for now I stay Short.
