IT's just EMA How to apply only can make a big and good leap. Sometimes less is more. Its just basic of technicl analysis but that means it's just that simpe thing.
As I posted earlier Short is predominated ; mass correction possible
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
Total Market cap should obey the 1st and 2nd support line
If considerable rally not observed, we will close every position and start wait and see This could be a huge DOWNFALL
Possiblilty on short term pulling back
Shows it's coming around
short convergence's end almost close
Indeed critical point LONG : now ~ $6,100 STOPLOSS : $6,100 fails
Break sucess, forming upper trend heading toward $ 7,200 for short term Break fail, retracing main support trend with high disappointed drop SEE, $6,400 - $6,600 NOW PLAYS A STRONG RESISTANCE
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.