BTC vs. SPX - what's next?
We can see a really strong squeeze happening on Bitcoin . Some would prefer to say that banks are falling and investors are running into Crypto, others will say it's an artificial squeeze lead by 1B$ Bid from Binance.
Either way the price now is in no man's land - back in the range, but has reached a strong trendline.
So what's next?
- SPX has reached my low 3800's target and is now forming a diamond pattern - the breakout will lead to either of the targets and will also be cause of a directional move on BTC
- We have important news coming now like PPI and Retail Sales so expect VOLATILITY around NY and SPX open
- Btc H4 needs retracement now (or consolidation) before next move
Having formed a new local and yearly high, BTC has broken a strong resistance, but has fallen back under it. It has also formed big FVG's below and an nPOC level. My plan for now would be revisiting the strong support around 22700, filling the FVG and revisiting the nPOC before a next move up.
According to Elliot Waves - we are in the 5th wave now - but from my experience - BTC likes to double that wave, just like it does on wave 3. |
Weekly is bearish , H4 is bearish , but daily is bullish . That suggest more bullishness in the upcoming days.
My targets :
- See what happens when price reaches 22700
- My top stands around 29k afterwards, will judge the next steps based on the bounce from there.
PS: If price falls below that lower VERY IMPORTANT CURVE - doom's day for Crypto.
Either way the price now is in no man's land - back in the range, but has reached a strong trendline.
So what's next?
- SPX has reached my low 3800's target and is now forming a diamond pattern - the breakout will lead to either of the targets and will also be cause of a directional move on BTC
- We have important news coming now like PPI and Retail Sales so expect VOLATILITY around NY and SPX open
- Btc H4 needs retracement now (or consolidation) before next move
Having formed a new local and yearly high, BTC has broken a strong resistance, but has fallen back under it. It has also formed big FVG's below and an nPOC level. My plan for now would be revisiting the strong support around 22700, filling the FVG and revisiting the nPOC before a next move up.
According to Elliot Waves - we are in the 5th wave now - but from my experience - BTC likes to double that wave, just like it does on wave 3. |
Weekly is bearish , H4 is bearish , but daily is bullish . That suggest more bullishness in the upcoming days.
My targets :
- See what happens when price reaches 22700
- My top stands around 29k afterwards, will judge the next steps based on the bounce from there.
PS: If price falls below that lower VERY IMPORTANT CURVE - doom's day for Crypto.