Hello,
Welcome to the next chapter of BTC's journey!
I am pleased while introducing to You great conditions for Bitcoin trading!
After succesful long, described in previous idea, I'd like to update my forecast. Since We experienced recent spike, specific technicals started to play all along. As I picked up some coins while ADX started falling below 10pts on 1D chart(check previous idea), the impulse was imminent - glad my speculation was quite accurate.
This time We experience huge divergence visable on DMI indicator, where uptrend strenght records new highs while tops getting smaller. Considering fundamental impact and helping ourselves with technicals We can say last pump was clear sign of market exhaustion.
What is next expected move? Well, as We look at fresh impulse, it is hard to predict exact price jumps. My view is valid until new highs are recorded and uptrend strenght (blue DMI) starts falling. Since 0.5 fibonacci seems to work out, We should consider purple scenario more likely to happen.
If You enjoyed my piece of work, please don't hesitate to support by likes!
Welcome to the next chapter of BTC's journey!
I am pleased while introducing to You great conditions for Bitcoin trading!
After succesful long, described in previous idea, I'd like to update my forecast. Since We experienced recent spike, specific technicals started to play all along. As I picked up some coins while ADX started falling below 10pts on 1D chart(check previous idea), the impulse was imminent - glad my speculation was quite accurate.
This time We experience huge divergence visable on DMI indicator, where uptrend strenght records new highs while tops getting smaller. Considering fundamental impact and helping ourselves with technicals We can say last pump was clear sign of market exhaustion.
What is next expected move? Well, as We look at fresh impulse, it is hard to predict exact price jumps. My view is valid until new highs are recorded and uptrend strenght (blue DMI) starts falling. Since 0.5 fibonacci seems to work out, We should consider purple scenario more likely to happen.
If You enjoyed my piece of work, please don't hesitate to support by likes!
Trade active
Hello,0.5 Fibo calls again, even though could be crossed but it doesn't look like it wants to make new highs so small steps upward will make bearish rising channel what should drag the price down in final case.
4hr chart
Note
Targeting $6000Trade closed: stop reached
V reversal caught @ $ 6350
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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.