An ultimate laggard.
Looking at that $2,100 level as a tough nut to crack. If we do, it leaves a lot of room for upside.
Would be careful around $2,500...but ultimately, the party doesn't have to stop until ~$3,500.
Contingent on bitcoin's resiliency of course.
CRYPTOCAP:BTC setup through end of 2023.
Assuming another fake beyond the 200 week, this is setting up a classic head and shoulders w/ a baseline of $25,177.
I've included several levels of potential support upon a break down.
Each constitute a reasonable range to DCA.
So here is my plan...
I don't want to trade this current setup. I had two shorts that...
$2,150 serves as the ultimate point of resistance for ethereum.
Should we get another rejection here, it will be clear the directional bias moving into the second half of 2023.
Looking for a CRYPTOCAP:BTC pump to BER:33K , this would be an excellent spot to take skin off the table. Pre-halving years do not produce expansive bull markets. This time will be no different - FOMO soon?
Bitcoin has succeeded thus far at forming newfound support at $24.5k, producing a deviation beneath the 200 week MA. We are also seeing a breakout of a recently important downward sloping resistance. Would. like to see daily candle closes above resistance to confirm breakout
BTCUSD WEEKLY TIMEFRAME: Bearish RSI divergence on the weekly timeframe upon seeing higher highs over the last few weeks in price and lower highs in RSI. Hidden bearish MACD divergence upon previous bull cycle weekly closes. Lower highs upon weekly price closes (and cycle highs), with higher highs on the MACD histogram. Oversold Stochastic RSI converging bearish,...
