IMPULSE -> RANGING > INPULSE -> RANGING what's noticeable was currently long was applicable as long's target not reached short is likely catch up the dominance of market from hence
As probability of massive correction becomes higher we took a profit at +10% zone. 2 scenario possible.
For contious strong bullish rally, BTC should hold the middle line of pallarel channel. Which means, $6,470 - $6,550 hold critical support currently
BTC FOLLOWS UPWARD TREND VERY CORRECTLY : heading toward strong resistance level
Long forming descending wedge major uptrend Short H&S Key resistance level Fractal
Shows it's coming around
Say if you are BTC driver Halving's coming mom and pop investors are sticking around But you are rich, very rich. The rich want to become more rich and grudging even a little amount of profits endowing mom and pops so contextual basis points that market's 2 possibility ahead : At least double bottom or New dip And Technical analysis is also simple : big...
It looks exactly on the way to the resistance but indicator shows it's celing for short term at least Time to take profits and have a sit backward and watch.
First It should NOT break the inclination of HEAD Second, should SUPPORT at leat $6,200 Third, should BREAK $6,700 resistance Otherwise, this overbought only meant to for SHORT the lagged.
In hours bar excpected is a brake for SHORT trend
More likely no rebound and straight to SHORT NO RUSH.
#BITCOIN The price will soon end the correction
FUNNY THAT CHART IS ALSO MADE BY HUMAN
1. PREVIOUS RESISTANCE FLIPPED TO SUPPORT 2. Volume profile diluted 3. long beneficial proportion gap of loss and profit 4. Ascending wedge yet support not broken 5. Possible double top retracted Thus, betting LONG, NOT BAD AT CURRENT FLOW
How much endurance it has got ?
FRACTAL DIMENSION OF TOTAL COIN MARKETCAP NOV 2019 AND PRESENT For short term, it MUST strengthen its bottom AT LEAST ONCE For long term, if supports alive, accumulation will be compansated, ie. market fly.
2 possible scenario at present