BTC getting into inflection point. Crucial Moments!
***JustChart Daily Price Action Analysis***
D1 Observations:
(1) Overdue upwards correction is finally happening in current candle. (neutral)
(2) N-1 candle exhibit sellers' commitment to hold price after initial downwards momentum. (bear)
(3) Price is at a point of inflection with almost 50-50 directional probability. This is because price action is developing either an upwards micro-swing or a downwards pullback bear confirmation. (neutral)
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H4 Observations:
(1) As predicted in my previous video analysis, consolidation pressure has finally caused a bull spike from N-3 candle, going above 34481. (neutral)
(2) Buy momentum is cut short as we have not seen continued upwards movement after N-3 candle's bull spike. However, buyers are able to hold it's price at 34500. (slightly bull)
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What I am looking out for:
(1) If N & N+1 candle can hold price above 34200, this will likely form 3rd higher lows. (bull) I will be closing my remaining short positions and evaluate opening a possible long position.
(2) If N or N+1 candle can touch 33500, this is likely a bearish confirmation. (bear) I will continue riding my existing short positions.
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For detailed walkthrough of the above analysis, be sure to check out my YouTube channel link in the profile section.
Stats:
Gut Feel = Long
Analytical Feel = Neutral
Legend:
N = Current Candle
N-1 = Previous Candle
N-2 = Previous 2nd Candle
N+1 = Next Candle
N & N+1 = Current Candle + Next Candle
D1 Observations:
(1) Overdue upwards correction is finally happening in current candle. (neutral)
(2) N-1 candle exhibit sellers' commitment to hold price after initial downwards momentum. (bear)
(3) Price is at a point of inflection with almost 50-50 directional probability. This is because price action is developing either an upwards micro-swing or a downwards pullback bear confirmation. (neutral)
-------------------------------------------------------
H4 Observations:
(1) As predicted in my previous video analysis, consolidation pressure has finally caused a bull spike from N-3 candle, going above 34481. (neutral)
(2) Buy momentum is cut short as we have not seen continued upwards movement after N-3 candle's bull spike. However, buyers are able to hold it's price at 34500. (slightly bull)
-------------------------------------------------------
What I am looking out for:
(1) If N & N+1 candle can hold price above 34200, this will likely form 3rd higher lows. (bull) I will be closing my remaining short positions and evaluate opening a possible long position.
(2) If N or N+1 candle can touch 33500, this is likely a bearish confirmation. (bear) I will continue riding my existing short positions.
-------------------------------------------------------
For detailed walkthrough of the above analysis, be sure to check out my YouTube channel link in the profile section.
Stats:
Gut Feel = Long
Analytical Feel = Neutral
Legend:
N = Current Candle
N-1 = Previous Candle
N-2 = Previous 2nd Candle
N+1 = Next Candle
N & N+1 = Current Candle + Next Candle
Disclaimer
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