DOWNTREND SINCE ATH'S (April 14th) PI CYCLE TOP CONFIRMED (BTC)
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~Downtrend since ATH's (April 14th) Pi Cycle Top Confirmed
Summary:
1) Above this would probably mean new ATH's or at least a retest of levels close to it.
2) Below this level, or a 3rd validation point would confirm a strong trend (down) and probably form a descending triangle which would likely eventually retest the $30,000 support level.
3) The last scenario, a fake out slightly above this level with a crash after to clear out the high leveraged players.
4) Market structure tells me a key level is around $45,777. (above is bullish, below bearish)
5) Pi Cycle Top indicator showing it's been confirmed as of April 14th, and a 3rd validation point on this trend line would confirm a downtrend and prove it's strength and would then retest support levels.
ALSO,
I'll be focusing only on the 3 hour timeframe chart and only will be doing swing trades with leverage below 5x (2-3 95% of the time) and 50%-75% of all money deposited will be going directly into cold storage and won't be touched until 2031.
I'll be both buying and selling with swing trades and will flow with the market, and will keep my long term investment portfolio where most of my funds are kept so they're safe and sound over the next decade.
All of my technical analysis will include the stoch rsi oscillator because my swing trades will be focused on momemtum swithces (shorting weakness, longing strength. shorting supply, longing demand. etc) and in this specific TA it's currently overbought since we've pumped pretty hard over the past 24 hours.
Stay safe, and SMASH that like button or leave a comment if you want more content in the near future! 👍🏼
~
x = area of interest
msp = market structure point
lps = last point support
👍🏼
~Downtrend since ATH's (April 14th) Pi Cycle Top Confirmed
Summary:
1) Above this would probably mean new ATH's or at least a retest of levels close to it.
2) Below this level, or a 3rd validation point would confirm a strong trend (down) and probably form a descending triangle which would likely eventually retest the $30,000 support level.
3) The last scenario, a fake out slightly above this level with a crash after to clear out the high leveraged players.
4) Market structure tells me a key level is around $45,777. (above is bullish, below bearish)
5) Pi Cycle Top indicator showing it's been confirmed as of April 14th, and a 3rd validation point on this trend line would confirm a downtrend and prove it's strength and would then retest support levels.
ALSO,
I'll be focusing only on the 3 hour timeframe chart and only will be doing swing trades with leverage below 5x (2-3 95% of the time) and 50%-75% of all money deposited will be going directly into cold storage and won't be touched until 2031.
I'll be both buying and selling with swing trades and will flow with the market, and will keep my long term investment portfolio where most of my funds are kept so they're safe and sound over the next decade.
All of my technical analysis will include the stoch rsi oscillator because my swing trades will be focused on momemtum swithces (shorting weakness, longing strength. shorting supply, longing demand. etc) and in this specific TA it's currently overbought since we've pumped pretty hard over the past 24 hours.
Stay safe, and SMASH that like button or leave a comment if you want more content in the near future! 👍🏼
~
x = area of interest
msp = market structure point
lps = last point support
👍🏼
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