alirezaa2001

alirezaa2001

well, i haven't been posting for a long time; but i think that it is time to warn people as this not clearly the time to enter any position; both long and short tendencies seem quite reasonable right know though my own long term view tends towards bearish, i can not deny that we might actually get up to 50-52 K level once more. but i think that BTC is forming a...

alirezaa2001

just wanted to note that we are witnessing bearish divergence on MACD and stochastic in almost every time frame from daily to 1-H. it does not mean anything by itself and some times these divergences don't play out. but it will for sure give us reason to be cautious.

alirezaa2001

i just like what i see. very high potential, both in terms of chart patterns and indicators. lets see. PS: i borrowed the title from the @RocketBomb

alirezaa2001

well, lets keep it simple. we broke out of a falling wedge and in doing so, we also created an inverse H@S pattern and both those patterns show a target beyond 60k. so i think 60k+ is in reach but that would be a bumpy road. right know we are facing a very strong resistance which keeps us from going up and i think we need to get back to 53k level to take some...

alirezaa2001

well this would be really short and quick; i think we will retest 43-44 k levels and if that holds, aim for 52. lets see and do your own research meanwhile.

alirezaa2001

well; this is just a quick Idea and i am not going into much details as i am in a hurry; in my opinion we are moving within a falling wedge and we could break it up by next 3-6 candles (although technically we can move within it for at least a month or so, but i doubt that). upon the break out, we could manage to go up to 48k and even a little bit higher (maybe...

alirezaa2001

just a quick idea without going further into details since i am on the road; Considering all, i think we would go down from here and i think we would test the upper boundary of 4H cloud as support which would be somewhere around 49k area. And we should be taking into account recent Elon Musk's views on BTC and ETH price too. lets see if that support holds. PS:...

alirezaa2001

right now the price is moving within 2 rising wedges; one with the red line as its upper limit which coincides with the very powerful psychological resistance of 50k, and one with the golden line as its upper boundary; so if the price somehow manages to break though the red line we should aim for at least 55k and even beyond due to the power of FOMO kicking in....

alirezaa2001

Seems like a H&S is in the making. Combined with the rising wedge we are moving in, I think we will soon hit 40k level.

alirezaa2001

Well my last idea kinda worked; so I think we will retest 46k within next 12 hours, if that holds, aim for 49, if it doesn't well it's not the end of the world. As my favorite character would say:"Wait for it". Yeh it pays 😉

alirezaa2001

unless we close this daily candle above he resistance which is totally probable right now, i think the rising wedge would push us down towards 39500 area. lets see. indicators don't tell much either way; Stochastic and MACD seems to be giving negative signs and Woodi's CCI and DMI show positive signs. we are at a stalemate by the very definition right now; only...

alirezaa2001

just a quick idea;i think it's a falling wedge with 50500 as the target, but we should consider the other scenario as well, so don't act without getting confirmation in either way.

alirezaa2001

i know that every one is pretty much hyped and they have every right to be excited; but right now is the time to wait and watch, we are moving within a triangle and we could break it to either side; although my heart is with bulls but my money is in Tether until the market makes it's decision. if we break out we should be aiming for 55000 or even higher and in...

alirezaa2001

I know that so many people are just shouting for short or long. but i think at times like this, the best strategy would be to wait for the trend to give us a clue. in higher time frames there is a lot of downward pressure but in lower time frames there are mixed signals. this is the best time for scalping, but if you are thinking for long time investment, it's...

alirezaa2001

yap; the title might be confusing, so lets discuss it a little bit. we have been in this tightening range for a while and i think it's going to end soon. i am leaning towards long, but there are signs that we might be on the verge of a cliff too. in my opinion, if the reverse H&S pattern completes, we might see another wave up to touch former highs and even break...

alirezaa2001

just a quick idea; it came to me to check the current price action with Elliott's corrective wave theory and it seems fit to a scaring degree. i am not very familiar with this theory and thus i am hesitant to make conclusions based on it; it would be nice if you guys could enlighten me

alirezaa2001

right now BTC's movement is little bit unclear, it looks like to be in the process of completing a H@S pattern and forming the right shoulder which will lead us down to mid 20K region upon completion. on the other hand it could be a Reverse H@S pattern with former ATH around 42500 as its target. well we will find out soon, although i am leaning towards the second...

alirezaa2001

i think we are witnessing a hanging man and of course it has to be confirmed; it also exists on the weekly too. although i am waiting for the confirmation candle to close, i just wanted to share my thoughts in the meanwhile. trade safe and use your own research.