BTC dominance (Y20.P3.E23).MACRO.BTC breakout soon
Updated
Hi All,
BTC dominance approaching the 0.618 mark which could only mean that many of the ALTs have done their top, with a BTC dom bounce and\or the BTC movement is big.
2 Scenarios
======================
A) My bullish view on this is BTC breaks 12K and up it goes to the next major level 13800. That's where the MONTHLY resistance (body of the candle).
B) The bearish scenario, is BTC plummets to high 9k to low 10K,
**** I am mindful that the daily 21 EMA or 34 hasn't been tested, so this is also on my mind. ***
Bullish view but logic says 21/34 or 50 EMA should be tested. But if it doesn't, then another reason to be more bullish.
Its very hard to say what the target is now, but we will have a clue by the end of this weekend.
MY THOUGHTS:
=======================
Currently based on the daily candle sticks, there is a few long wick from the bottom, showing us bullish pressure.
I also made a post as to the prior to the ABC retracement and I had an order at few ranges (missed a large order at 11080) with it hitting 11150 on Binance.
I think this was it for now and maybe when it hits its elliot wave 5, we might see it go sub 10K once last time to fill in the CME gap around the 9200 range.
Lets wait and see.
Please give me a like or tick for this post
Cheers,
S.Sari
BTC DAILY forecast
==========================================================================================
PREVIOUS POST
tradingview.com/u/ssari/
BTC dominance approaching the 0.618 mark which could only mean that many of the ALTs have done their top, with a BTC dom bounce and\or the BTC movement is big.
2 Scenarios
======================
A) My bullish view on this is BTC breaks 12K and up it goes to the next major level 13800. That's where the MONTHLY resistance (body of the candle).
B) The bearish scenario, is BTC plummets to high 9k to low 10K,
**** I am mindful that the daily 21 EMA or 34 hasn't been tested, so this is also on my mind. ***
Bullish view but logic says 21/34 or 50 EMA should be tested. But if it doesn't, then another reason to be more bullish.
Its very hard to say what the target is now, but we will have a clue by the end of this weekend.
MY THOUGHTS:
=======================
Currently based on the daily candle sticks, there is a few long wick from the bottom, showing us bullish pressure.
I also made a post as to the prior to the ABC retracement and I had an order at few ranges (missed a large order at 11080) with it hitting 11150 on Binance.
I think this was it for now and maybe when it hits its elliot wave 5, we might see it go sub 10K once last time to fill in the CME gap around the 9200 range.
Lets wait and see.
Please give me a like or tick for this post
Cheers,
S.Sari
BTC DAILY forecast
==========================================================================================
PREVIOUS POST
tradingview.com/u/ssari/
Note
As I stated, target hit, bullish divergence and all the ALTs are dropping, including ETH. Timing is everything...I miss on flipping as well.
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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