Hi Guys
The fractal has made good deals possible for me since the 49k area, let's see how long it will continue to play.
So far the movements are still very similar:
BTC fell by 50% both times until we found support and drew a bearish continuation pattern (triangle),
here, too, the percentage increase of 40% is almost identical.
The break of the triangle happened quickly and with good volume, also identical.
After that, BTC fell another 50% in 2018, I'm not saying that will happen again this time, but be careful.
Even if RSI and MACD show us bullish divergences into the 12 o'clock (we are oversold by the 4 o'clock).
keep bears in full control
A recovery to 34.5k would be fine for bears.
In order to turn the tables again, buyers have to slowly become active, but at the latest at 30k.
A shortsqueeze would also be conceivable.
If we draw an HL and HH I will discard the fractal, but until then I will continue to play it,
even if a lot can still happen on the way down.
Below the current low, the weekly mA50 waits at approx 29k, and the 0.618 retracement of the entire upward movement at 26.7k.
These two levels could be great buying opportunities for swing position traders and hodlers.
However, after such a sharp drop, we should expect longer sideways movements.
I don't want to panic under any circumstances, but the fractal target is 20k,
this would also close the gap in the future.
In the long term, I will remain ultra bullish on BTC, only a fall below 14k would destroy the bullish structure.
Here are some details of the recent moves
Weekly chart fits perfectly, take a look at the big picture with retracements and Fib channel
I want to mention that everything I post is just options and my own opinion!
➡️If you like my posts, press the Like button, comment or follow me.
Thanks for reading my ideas,
Trade save !!
The fractal has made good deals possible for me since the 49k area, let's see how long it will continue to play.
So far the movements are still very similar:
BTC fell by 50% both times until we found support and drew a bearish continuation pattern (triangle),
here, too, the percentage increase of 40% is almost identical.
The break of the triangle happened quickly and with good volume, also identical.
After that, BTC fell another 50% in 2018, I'm not saying that will happen again this time, but be careful.
Even if RSI and MACD show us bullish divergences into the 12 o'clock (we are oversold by the 4 o'clock).
keep bears in full control
A recovery to 34.5k would be fine for bears.
In order to turn the tables again, buyers have to slowly become active, but at the latest at 30k.
A shortsqueeze would also be conceivable.
If we draw an HL and HH I will discard the fractal, but until then I will continue to play it,
even if a lot can still happen on the way down.
Below the current low, the weekly mA50 waits at approx 29k, and the 0.618 retracement of the entire upward movement at 26.7k.
These two levels could be great buying opportunities for swing position traders and hodlers.
However, after such a sharp drop, we should expect longer sideways movements.
I don't want to panic under any circumstances, but the fractal target is 20k,
this would also close the gap in the future.
In the long term, I will remain ultra bullish on BTC, only a fall below 14k would destroy the bullish structure.
Here are some details of the recent moves
Weekly chart fits perfectly, take a look at the big picture with retracements and Fib channel
I want to mention that everything I post is just options and my own opinion!
➡️If you like my posts, press the Like button, comment or follow me.
Thanks for reading my ideas,
Trade save !!
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Here a 3D chart TA support @thecryer for his commitment to the community and good work
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According to Fractal, Ichimoku Cloud Conversion Line act as strong resistance in h4
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Momentum overview 15m - 1h - 4h - 1D
There are simply no buyers to exert pressure. It seems that whales are asking for lower prices
There are simply no buyers to exert pressure. It seems that whales are asking for lower prices
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@mkenski Thanks for the tradingview coins 😀
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Here inside you can see CME Future gaps, EW-counts and much more
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15m chart rising wedge
