If BTC closes below the 6k mark, we have officially entered E2E trade territory. I would expect BTC to move with high volatility to the FAMA moving average (Green edge) of ~4800 price range. If we start moving towards the target price, I'm expecting the bull in BTC to use the 5K price as a nice round psychological number for support.
A great coin for leverage against bitcoin is bitcoin cash. I would recommend this option vs a leverage short position on BTC for MM reasons.
A great coin for leverage against bitcoin is bitcoin cash. I would recommend this option vs a leverage short position on BTC for MM reasons.
Note
I'm remaining bearish until we get a daily close outside of the MAMA.Note
Watching this level of resistance:Note
4HR Cloud view. Price has retraced to the Kijun or 50% fib. The Kumo twist indicates the bounce off the fib could be to the downside.Note
I'm still bearish for two reasons:1) Very rarely do I see a daily bar with no wick on either side.
2) Price has not closed above 4HR MA cloud / Kijun/ 50% fib.
Note
Staying bearish for the same two reasons above.Cloud view:
Adaptive MA view:
Note
BTC is a very strong bull and normally I would be shifting my sentiment about now, but due to reason # 1 listed above (statistically over 90% true) and Ehlers MA study still showing a potential move to the downside on the 4H chart, I will remain bearish. Current price chart:
Note
4H adaptive MA has crossed over giving bullish sentiment. Momentum is slowing down after the recent bull run indicating a small correction could be underway before price moves to new highs.If a correction happens I will wait for price to form a HA doji candle around the MAMA support of ~6800 area before looking to enter long.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.