Bitcoin #BTC 2024 HTF Plan
I've been bullish the whole of 2023 on BTC and overall Crypto. Right now, I feel pretty uncomfortable posting an HTF #BTC chart exactly before the ETF decision.
Depending on how the market reacts this week, this plan may change completely
though,
"Show me the chart and I'll tell you the news".
This saying is deeply engraved in my trading
For the sake of the analysis, I will forget that there is major news incoming for Bitcoin and I'll analyze only the chart. This is not entirely correct though because the overall context always matters.
BTC looks solid right here and my bullish bias hasn't changed, yet. I think another push higher is due. At least I am expecting $48,000 near term as I've specified multiple times on my X profile. This will be a sweep of the March 22 High which led to the major sell-off that marked the bottom later on in Nov.
If after sweeping the high, the price loses the trend and starts breaking down, the only place where I'll be looking to start building HTF positions will be at the ~30,000 zone. There I'll be buying the 28/29,000 wicks.
LTF Bullish shift of structure will be a $32,000 reclaim, where I'll be looking to add to my position from lower.
The perfect scenario will be another push towards 38000 where the price needs to reclaim ~38,000, this will signal that the bulls are in full control of the trend and we may indeed see fresh highs.
Can't say what can happen next, though if the price start reclaiming 48,000 and holding the trend, I think new all-time highs are in the cards
Depending on how the market reacts this week, this plan may change completely
though,
"Show me the chart and I'll tell you the news".
This saying is deeply engraved in my trading
For the sake of the analysis, I will forget that there is major news incoming for Bitcoin and I'll analyze only the chart. This is not entirely correct though because the overall context always matters.
BTC looks solid right here and my bullish bias hasn't changed, yet. I think another push higher is due. At least I am expecting $48,000 near term as I've specified multiple times on my X profile. This will be a sweep of the March 22 High which led to the major sell-off that marked the bottom later on in Nov. If after sweeping the high, the price loses the trend and starts breaking down, the only place where I'll be looking to start building HTF positions will be at the ~30,000 zone. There I'll be buying the 28/29,000 wicks.
LTF Bullish shift of structure will be a $32,000 reclaim, where I'll be looking to add to my position from lower.
The perfect scenario will be another push towards 38000 where the price needs to reclaim ~38,000, this will signal that the bulls are in full control of the trend and we may indeed see fresh highs.
Can't say what can happen next, though if the price start reclaiming 48,000 and holding the trend, I think new all-time highs are in the cards
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