After a drop of 55% (in which we were able to post good profits), BTC consolidated 65 days in the 30-40k range. Since these days were characterized by stop hunts and fakouts, we only played scalps and day trades. As predicted, BTC triggered the bullish consolidation. We are currently at the 0.5 retracement, the 1st FIB target for Wave C. The 1d RSI and MACD has been showing bearish divergences since the 40k area. This does not mean that the price has to fall immediately, but it points to the first signs of weakness. We can also see this in the decrease in Volume and the 4h rising wedge. This is also evident in the LTF off a rising wedge.
SL - TP in the chart Conservative entry is at 0.618 retracement - SL above 0.786 retracement.
Note on the edge: The big crypto players (Kartell) control the crypto media, have an armada of top technicians and market psychologists, whose only goal is to mislead you and to take your money. So don't let the roar of the lambo get you infect boys. follow your own trading plan
I would like to mention that all I post are just options and my own opinion! Always trade with SL, and do not risk more than 1% of your portfolio (max 3%) per trade.
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Thanks for reading my ideas!
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For a detailed overview check my previous post
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CME Gaps
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bullish view ( 65% )
bearish view (35%)
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Main count (bearish) in blue, bullish count in red
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New BTC TA - fractal update
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Wecan see bullish formations falling wedge in green and Cup and handle in blue But stay short. In my opinion, traps are included on these levels
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Sorry for the misstake EW 1 and 2 in blue is not correct
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New BTC post - LTF longsetup
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have waited a long time for this price level ... YEAH .. SHORT it