Posting another chart based on the previous wyckoff chart i posted, which if you have seen was a 100% success. At the moment we are in buy zone #1, confirmed by fibs and previous lows. Buy zone #2 is right below. If you are building longs, you can start here and build lower, or you can start here and place stop losses.
Shorts vs Longs on BTC are now primed for a squeeze and weekly MACD want up. If buy zone #2 breaks then all hope is lost. I also think if we break buy zone 1, and do go to buy zone 2 we will see massive capitulation on alts.
Shorts vs Longs on BTC are now primed for a squeeze and weekly MACD want up. If buy zone #2 breaks then all hope is lost. I also think if we break buy zone 1, and do go to buy zone 2 we will see massive capitulation on alts.
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Here is my previous chart, also posted on TV. Follow me on twitter for more calls. I usually make a call well before the market turns. I dont make 100% calls, I post everything on TV as proof.Note
Twitter profile: twitter.com/3L3C70Note
It's trying to bounce off the first buy zone as shown in the picture above. needs to break through 7400 to be considered bullish. In the short term, i think it will try and take 6800 at the very least.Note
This chart should be seen in combination with my other chart. Hit play on both to get an idea of where we are. since this one is a weekly longer term chart, you will find more joy in the one linked below.
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The call is still to long. If the yearly low breaks, then we stop loss and look for 4.2kish.Note
Looking a bit week here. Will wait for 7k break, or 6.8 rejection. This may just go down lowerNote
Looks like a long target of 7.4 - 7.6 to be taken out before any more dumpage. Shorts have no gone above ATH (based on the data we have)Note
Red line is shorts. They are now in will definitely get rekt territory.Note
Unless this level breaks, which it has tried to many many times now, long is the only call i can think of. I wouldnt even think of shorting here.Note
Slowly derisking -- if this buy level breaks, we may see a wick sub 4k and recovery which would be our buyzone 2 as shown above. Note
Events so far, break downtrend, sell back down to test downtrend. Bounce at retest. Classic TA would tell you to go long. Very long. Keeping downside risk in mind, i think the call is good thus far.Note
Still in the buy zone...... nice solid rally up and then harsh sell off. This is still the first buy zone so in my opinion its still a solid long.Note
Looking very good.Note
still in buy zone 1. Obeying support. This zone goes from 6500 - 5600 -- in what i beleive is the accumulation zone.
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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.