Current slope of bearish movement is lowering, meaning that that maybe a pivot point will happen here and BTC goes higher. Since we are at a good place near heavy support, it may be a good idea to go long AFTER CPI report gives the market confirmation. Here you can see that NASDAQ reacted to the bullish trend line. And Dollar Index reacted to the bearish trend...
Last two times that DXY hit the bearish trend line, went down quite fast. This time it is showing another bullish trendline, resisting from going lower. We should wait and see which trend line will break. NASDAQ and Bitcoin already went down maybe cause of this young bull trendline appearance? Maybe DXY going up is more probable. Let me know what you think.
Seems like a good setup for going SHORT on BNB . SL and TPs on the chart.
As you can see on the chart, all of the rend lines seem valid. Based on the current orderbook condition, personally I consider 22500 as the main support here and not 22300 and if the price gets under 22500 then it's going down! As you can see in the orderbook (from tensorcharts ) there is a lot of orders waiting at 21400. On the other hand if the price can get...
You can see that last two movements of bitcoin in the broadening ascending wedge is very similar to DXY movement's timing. Look at Green Boxes on both charts: DXY moved from midline to the bottom and bitcoin moved from bottom to top. Then look at Red Boxes: DXY moved from bottom to TOP , 2x previous price action but BTC came to the bottom line (ALMOST) the same...
The slope of higher highs is better than higher lows. Each time that price goes for a local higher high comes back with bigger correction as you can see them in red boxes. Don't think that the long main UP trend is over. Even a lower low bellow the previous prices can act as an wyckoff accumulation spring. But if the price doenst come back from there then we...
As you can see, in this part of the movement we have higher lows in the price action and each time the slope between lows are getting more positive. Sell orders on 2300 price have been filled in previous resistance touches; So it seems like this time it is going to break that 23800 resistance. Personally waiting to see 25000 soon.
Hi. I just wanted to show you these channels. Some of them do not have the classic defentions of drawing a channel BUT! Closes fit to them perfectly since the previous pump and the mid lines are doing good too. What do you think about them? (personally enjoyed the Green one!)
I have written an sciprt which could say the major trend of the BTC based on the price action relative to the last ATH . It has been 2 weeks since the Blue Cycle signaled and based on the previous cycles defined by this model, eather we never see this price again or at the WORST scenario we touch the local bottom at 15K and then go back to the last ATH at 69K in...