Lets look at all the facts of BTC regarding TA.
On the monthly chart– We have had a evening star formation. This is a Reversal pattern.
Weekly chart – We are in a weekly sell range and Btc is making Lower lows and Lower highs. Currently in a down trend.
Daily – We are in daily sell range.
BTC is bearish for the time being. We have liquidity squeezing inside...
Wyckoff distribution forming on daily chart.
I was asked to do this analysis, however, I do not trade BTC and have not been watching the market and its price action.
Please take into consideration that I do not know how this market reacts hence the various scenarios I have given at the end of this video.
Elon's tweets could make things happen very...
*Not financial advice, just an idea*
Symmetrical triangle formation could be either bullish or bearish.
However, likely in this scenario to be an indicator of a change in sentiment.
Death cross occurring on 1d timeframe, potential signal for further downturn and an overall change in market sentiment.
Biden's going to make it go down with FUD and maybe US restrictions, then El Salvador and other countries are going to rapidly adopt it, causing it to go up dramatically! $31-29k at 16th June, then phase change to go up! Will predict once there!
Win counter: 0W, 0L
- I have seen this in 2017 and it will happen most likely again! Best strategy to do here is to sell your coins in the red zone. 56k to 60k range. Yes if I'm wrong you will lose a small profit, but if I'm right you will save A LOT of that profit.
- Green zone is where to buy again safe. 65k to 68k
- We are heading for the gold "Back to normal"
Look at the Chaikin indicator, poised above zero to cross it soon. This is a bearish sign. It may fake out slightly and avoid the inevitable, but a bullish reversal here require the Chaikin to start climbing away from zero, not slowly crawling towards it
In my opinion, in these circumstances, be sure to close your positions and save YOUR PROFFIT.
And wait and see if Bitcoin crosses the 40K line or returns and we will see another BEARISH.
If you agree with me, like it ;)
A key level has been hit on BTCUSD.
For those familiar with "How to Trade Reversals" we talk about this a lot.
For us to trade continuation to the downside we need price to turn this key level into resistance.
Short the pops!
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We have printed a small 4H SFP and a close above 43825 could print one on the 1D chart
Looking at the 1H chart, the last up candle that sends price down into the liquidity (SFP) is the breaker
A flip of the LH and a retest of that LH and/or breaker candle would then become my entry points
We also have double stacked oversold bullish divs on this 1H chart and have...
As you can see a head and shoulders pattern has formed, the current support level is around the EMA and support level at 42k.
My theory is that if this level around the EMA is broke then we can expect further downside, how I’ve calculated the downside is by taking the head and shoulders pattern from the head down to the neckline and that has given me the % it...
Ideally the swing low at 43K needs to hold and anything beneath is a shortlived deviation which forms part of weekly wick
The amount of FUD on the market right now is insane
We have been 'ranging' for 84 days
These do form bear trends within the range, LH's, LL's etc.
I stepped into a long on 4H bull divs, 4H bull engluf, and added on a trend change on 1H at an OB...