BTC - More upside before breaking down!
Updated
Dear Traders and Investors, as all you know Crypto Queens Here.
First of all we hope you have a good and profitable week, and that you are resting well this weekend because we are anticipating some intense moves this upcoming week. Without further ado, let's get to it.
A fast Short-term update regarding our latest report on 1D - BTCUSDT Post. Everything is going based on plan. BTC tested 17.000$ level, and at the time of writing it is still consolidating above 16.900$, which is a good indicator. A rising Wedge has been formed which as we all know, it's often considered a bearish chart pattern that pinpoints imminent breakout to the downside. Having as an example, the previous one which reacted quickly and broke structure to the downside. Nonetheless, nobody knows, when where that reversal will occur. Therefore, as long as we stay inside the pattern and as the price gradually, moves higher, we are aiming to test the FVG (Fair Value Gap) Area at 17300$. At this point, there are 2 scenarios in play:
IMPORTANT: This is strictly a Technical Analysis and Fundamentals CAN affect our Analysis!
Keep in mind though, when everyone seems optimistic, be pessimistic, and visa versa.
Not a Financial Advise!
Trade with Caution!
Best Regards, CryptoQueens.
First of all we hope you have a good and profitable week, and that you are resting well this weekend because we are anticipating some intense moves this upcoming week. Without further ado, let's get to it.
A fast Short-term update regarding our latest report on 1D - BTCUSDT Post. Everything is going based on plan. BTC tested 17.000$ level, and at the time of writing it is still consolidating above 16.900$, which is a good indicator. A rising Wedge has been formed which as we all know, it's often considered a bearish chart pattern that pinpoints imminent breakout to the downside. Having as an example, the previous one which reacted quickly and broke structure to the downside. Nonetheless, nobody knows, when where that reversal will occur. Therefore, as long as we stay inside the pattern and as the price gradually, moves higher, we are aiming to test the FVG (Fair Value Gap) Area at 17300$. At this point, there are 2 scenarios in play:
- SCENARIO 1: Close FVG at 17300$ and effective immediately reject, at the point mentioned in the chart (Support), at 16800$.
- SCENARIO 2: Close FVG at 17300$, consolidate between 17300$ - 17100$ and test the lowest point of the Daily Bearish OB at 17700$, which ultimately will be rejected and lead us all the way to our Daily Bullish Orderblock (Support Area), at 16800$.
- SCENARIO 3: Check the "link to related idea" . You will find a Long Term view indicated on previous Post on 1D regarding 1st Quarter.
IMPORTANT: This is strictly a Technical Analysis and Fundamentals CAN affect our Analysis!
Keep in mind though, when everyone seems optimistic, be pessimistic, and visa versa.
Not a Financial Advise!
Trade with Caution!
Best Regards, CryptoQueens.
Trade active
As we predicted there is more upside before breaking down! Hold tight as we can predict more volatility the upcoming week. Mr MM will try (and probably succeed) to reach sort liquidations first before droping the price more than 16k.
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