BTC Retrace to 21800 for Bear Market Rally
I'm sharing this primarily to save this particular chart and see how well this chart will react with price. At the same time, a great potential short opportunity is on the way.
With the recent move up in January and the latest FOMC pump now exhausting our upward momentum for a bear market rally, we should see a retracement or return to 21800, or even 20k.
And yes, I said bear market rally. I am not convinced BTC is ready for a new bull run just yet.
I am using 1/2 and 1/3 angles based on the initial price impulse (blue line) and converting price retracements to TIME retracements (vertical lines) in order not only determine WHERE trade opportunities may lie, but also WHEN.
Remember, the best entries are not only when price is at a support or resistance level, but when price is ALSO squared with time.
With the recent move up in January and the latest FOMC pump now exhausting our upward momentum for a bear market rally, we should see a retracement or return to 21800, or even 20k.
And yes, I said bear market rally. I am not convinced BTC is ready for a new bull run just yet.
I am using 1/2 and 1/3 angles based on the initial price impulse (blue line) and converting price retracements to TIME retracements (vertical lines) in order not only determine WHERE trade opportunities may lie, but also WHEN.
Remember, the best entries are not only when price is at a support or resistance level, but when price is ALSO squared with time.
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.