Hi All,
I have 2 or 3 possible scenarios and yes, I'm bullish at this level as the fear factor is extremely high in fear, 10.
If you look at the fear factor chart, we match the previous june july numbers.
Similarly onchain data represents accumulation as well as bullish divergence on a number of indicators.
The previous Trend Line was used to create a bear trap as you can see how the final dump was to shake people out completely and then up it goes.
RSI at that point was in bullish divergence.
I think something similar can occur or the trend line will act as the final bottom.
The 3rd scenario is much more bearish and that goes down to the previous june \ july bottom of 29k.
I have orders in the 38k range and 39k range for that last dip, if I"m asleep.
Does this mean we will do an all time high, that really depends on what the stock markets will be doing as well, along with the USD.
I don't think we will do an all time high as this top resistance will be a major resistance and like my stream stated, we in a wyckoff range so our ABCDE count for an elliot macro triangle count could be back down to 40 to 50K if we are to reach the mid 60ks again.
That is my bullish scenario for BTC and it would be aligned with many ALTS to reach their macro targets of 1.272 to 1.618 extensions.
But lets worry about that after this confirmation of a bounce.
All the best,
S.SAri
Note the RSI formations.
I have 2 or 3 possible scenarios and yes, I'm bullish at this level as the fear factor is extremely high in fear, 10.
If you look at the fear factor chart, we match the previous june july numbers.
Similarly onchain data represents accumulation as well as bullish divergence on a number of indicators.
The previous Trend Line was used to create a bear trap as you can see how the final dump was to shake people out completely and then up it goes.
RSI at that point was in bullish divergence.
I think something similar can occur or the trend line will act as the final bottom.
The 3rd scenario is much more bearish and that goes down to the previous june \ july bottom of 29k.
I have orders in the 38k range and 39k range for that last dip, if I"m asleep.
Does this mean we will do an all time high, that really depends on what the stock markets will be doing as well, along with the USD.
I don't think we will do an all time high as this top resistance will be a major resistance and like my stream stated, we in a wyckoff range so our ABCDE count for an elliot macro triangle count could be back down to 40 to 50K if we are to reach the mid 60ks again.
That is my bullish scenario for BTC and it would be aligned with many ALTS to reach their macro targets of 1.272 to 1.618 extensions.
But lets worry about that after this confirmation of a bounce.
All the best,
S.SAri
Note the RSI formations.
Discord: TradeToProspa
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
