Bitcoin
Short

SkyFall to 30k. Engage Parachutes

353
Multi Timeframe Analysis

Hint: Previous projection panned out. Hold off from buying. For now

BTC will continue to drop as the market sell off for SP500, DOW, UK100 and other major indices progress. Russian invasion's impact will continue to be market negative except on Energy and Oil which should skyrocket as supplies dwindle. In fact, the longer Russia sustains seige, the higher energy prices go.

I've zoomed to the weekly chart to provide a bigger picture. A completed butterfly and anti cypher pattern supports the theory of further engine failure. It's at the 27k to 30k that rescue teams standby to salvage the wreckage.

Shifting to the daily chart one would find yet another bearish harmonic pattern that dashes any hopes of short term relief. Breathing masks on yet?

Keep holding and don't sell your assets. A 100k BTC will still emerge perhaps next year. (unless someone pushes a Nuke button)

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Market order position upon the confluence of valid entry rules on the 4H or 1H chart.

-=ENTRY RULES=-

Trading philosophy: Don’t short at the lowest of the bearish momentum nor do we long at the peak of a bullish impulse. The safest entries are at the end of a retrace on the 38.2%, 50%, 61.8% or 78.6% fibonacci back in the direction of the master trend.

Note: I use Daily/4H or 4h/1H market structures with wave analysis to prep for potential entries. The RSI , MACD and EMA indictors are confirmation for entries at the 4H or 1H timeframe

For SHORT:
4H chart should confirm that the bullish retrace had turned bearish in the direction of master trend. The MACD should have dropped below zero signifying a bearish environment. Price would have dropped below the 10 and 20 EMA . For good measure, check that the 4h and D1 RSI is below the 50 signal line

For LONG:
4H chart should confirm that the bearish retrace had turned bullish in the direction of the master trend. The MACD should have gone above zero signifying a bullish environment. Price had gone above the 10 and 20 EMA . For good measure, check that the 4h and D1 RSI is above the 50 signal line

About me
I am not a financial advisor nor a signal provider. These are the opinions of a 20-year private trader in the legal profession as well as a businessman diversified in the tech and hospitality industries. My favored tools of the trade include wave analysis, price action on the 4H to Weekly timeframes and institutional order flow.

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