Bitcoin Do or Die?
Updated
Looking at this 4HR chart it seems Bitcoin could be up to something!
My whiskers are telling me that Bitcoin is at a critical level.
If we move down from here I will be looking for a bounce at
around $39,300. If that happens I would call this a Bullish 5-0
and would be looking for more upside. This would look like
continuation and I would start to think the bullish trend is
once again valid...at least until we get to the bottom of the blue
channel!
If we dropped below that my next level to look for support
would be around $34,600 to $33,000. If this level fails then
for me this means we had a fake out break up out of the bull
flag. This would be the signal to me that a longer term bearish
trend is developing. If this plays out then my target for a bottom
would be around $16,000.
A quick glance at the monthly chart shows that we need to finish
the month above $48,102. If this doesn't happen then I will consider
the Bullish Cypher in play. The PCZ of the Cypher on the monthly
would be just above $16,000. I will post the monthly chart as an
update to TradingView idea.
Owhooooo!
My whiskers are telling me that Bitcoin is at a critical level.
If we move down from here I will be looking for a bounce at
around $39,300. If that happens I would call this a Bullish 5-0
and would be looking for more upside. This would look like
continuation and I would start to think the bullish trend is
once again valid...at least until we get to the bottom of the blue
channel!
If we dropped below that my next level to look for support
would be around $34,600 to $33,000. If this level fails then
for me this means we had a fake out break up out of the bull
flag. This would be the signal to me that a longer term bearish
trend is developing. If this plays out then my target for a bottom
would be around $16,000.
A quick glance at the monthly chart shows that we need to finish
the month above $48,102. If this doesn't happen then I will consider
the Bullish Cypher in play. The PCZ of the Cypher on the monthly
would be just above $16,000. I will post the monthly chart as an
update to TradingView idea.
Owhooooo!
Note
Here is the monthly chart showing the potential Cypher that could take
us down to about $16,000. This month is
important.
Note
Note
Note
Note
Looking for a bounce at $39,341.47Note
Now I think it's a Bearish Crab. Either way (Shark or Crab), downside targets are in play.Note
This is scary. (whimpers)Daily chart.
I'd rather go down to $18,000 and bounce as opposed to following the blue line.
Related publications
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.