Based on technical chart reading, just an idea of a possible projection.
To be better confirm in the following month
To be better confirm in the following month
Note
Short term target reached and I proceeded to sell 25% of my 25k position.Below are my TP signal
paste.pics/PE5HP
The next questions is will it retest the downside trendline at 26.350? The 0.236 Fibonacci? A little blurry for my taste.
I will remain focused on USDT dominance charts and I am currently creating a % change in dominance of all USD peg tokens relative to overall crypto market cap excluding USD peg tokens.
Note
So far so good, I can see selling pressure in the consolidation wedge pushing BTC lower to the rising channel support. Daily MACD can indicate a local top and 4h MACD line is on overbought territory.
An indication I have been using and find that it is often accurate I call dynamic trend lines. I use the local low and local low and high to create a line that can show me exhaustion of a trend. In this case, it is the white dashed line and BTC broke the low. I will create a post on this indication.
Order cancelled
Closed my short a bit earlier at the breakout (blue trend). Looks like we could push higher towards $29k. I will increase my risk a bit but once a breakout confirmed at the yellow circled area, I will leverage long till Disclaimer
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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.