BTC (Y20.P1.E1).MACRO.Next Target
Updated
Keeping it short:
My Thoughts:
> This last 4 HRLY candlestick is a BEARISH move and is not one we will recover from until we reach my short term target (explained below)
> The next logical target has been given once we dropped down past what I feel was the price confined channel (defined by the black lines).
> The RSI also supports my model, that this channel was in place.
> I expect a number of bullish divergences on the way down, bounces on the 1 to 4 hrly time frames
> The ABCD pattern does give us a bullish target, potentially the bottom\reversal
> More probable is AB=CD which equates to the 0.786 retracement as I hinted in one of my posts, link below
Strategy:
If you hold BTC, look to flipping to ALTs. I have my EYE on ETH and LINK for now...haven't finished looking at other ALTS.
if you have stable coins, look at 1 to 4 hrly charts with bullish divergences or patterns.
Keep referencing some of the scenario's you have mapped out and see which one it fits best
What to look for with other indicators:
It seems the weekly 150 and 200 MA can come to play
Also another good indicator (for bullish\long) is the daily 377 MA (twitter.com/PositiveCrypto/status/1209064057908715522/photo/1)
The RSI supporting a bullish pattern, if this breaks, then we have below 6K.
My Thoughts:
> This last 4 HRLY candlestick is a BEARISH move and is not one we will recover from until we reach my short term target (explained below)
> The next logical target has been given once we dropped down past what I feel was the price confined channel (defined by the black lines).
> The RSI also supports my model, that this channel was in place.
> I expect a number of bullish divergences on the way down, bounces on the 1 to 4 hrly time frames
> The ABCD pattern does give us a bullish target, potentially the bottom\reversal
> More probable is AB=CD which equates to the 0.786 retracement as I hinted in one of my posts, link below
Strategy:
If you hold BTC, look to flipping to ALTs. I have my EYE on ETH and LINK for now...haven't finished looking at other ALTS.
if you have stable coins, look at 1 to 4 hrly charts with bullish divergences or patterns.
Keep referencing some of the scenario's you have mapped out and see which one it fits best
What to look for with other indicators:
It seems the weekly 150 and 200 MA can come to play
Also another good indicator (for bullish\long) is the daily 377 MA (twitter.com/PositiveCrypto/status/1209064057908715522/photo/1)
The RSI supporting a bullish pattern, if this breaks, then we have below 6K.
Note
ETH.USDTNote
Micro levelNote
Resistance is still be respected. If this continues, we will see the 6K's as the norm.The wicks tell the story.
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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