Before I lay emphasis on this recent analysis, review my previous analysis that played out well.
Link to analysis
On the 30 minutes TF, after BTC must have reached its ATM at the 34k region, it proceeded to dump which was influenced by a double top after the retest of the neckline. The 33k marked zone wasn't strong enough to hold it but it later got rejected after it broke the 30k zone and now ranging. Let's take into consideration the recent structure putting into consideration the swing high and low.
A thread
Link to analysis
On the 30 minutes TF, after BTC must have reached its ATM at the 34k region, it proceeded to dump which was influenced by a double top after the retest of the neckline. The 33k marked zone wasn't strong enough to hold it but it later got rejected after it broke the 30k zone and now ranging. Let's take into consideration the recent structure putting into consideration the swing high and low.
A thread
Note
Again, what do you see as the next confluence still on the 30 minutes?
Note
More confirmations on higher timeframes?
BTC is overbought the daily. What happens if the RSI breaks the 70 support with these confluences?
Note
A break below the recent swing low and zone might mean there might be correction down to 26k, 20k or even the 17k region which is most outstanding. BTC might still continue its bull run though. Just wait patiently for it to break the 33k zones above at least to be sure if you swing. Meanwhile, you can still find scalp buys and scalp sells till then with good risk management. Nevertheless, I know its alts session. Just trade safely.
What's your take on what I have said and what's your bias? Let me hear from y'all in the comment section. Thank you.
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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.