jackrabbitrage

BTC Possible Middle Term Scenario

Long
BINANCE:BTCUSDT.P   Bitcoin / TetherUS PERPETUAL CONTRACT

The bear market shouldn't have been over, but we are likely in a relief rally if the price rises above the threshold of around (21600-) 21800.
Beware of still possible correction before the actual bullish move.

Long until December, and maybe short (in January) at 33.5k-34k.
If the market is more bearish, the downtrend could resume at 28k-29k.

I changed my view because the bullish dragon in the related idea now seems to have been active.
The chart and annotation would be self-explanatory: the keys are harmonic patterns and Fibonacci.

To those who hate Gann Square and arcs: Ignore them, or ignore this idea. It's simple. Think twice before you post anything in the comment area.
Comment:
Daily TF magnification.
Comment:
Correction. Bullish Dragon's 0.786 is 29k.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.