Bitcoin / TetherUSShort
Easy to see why BITCOIN falls
Today we have a reaction to this level
to see original post go here
If we take away all the speculation, news and guesswork, what do we have?
In short:
The first stopping point of the cycle was the adopted ProSharse Bitcoin Strategy ETF (BITO) futures ETF.
Is a second stop possible, adopting all cellular ETFs?
1W
Using the weekly chart for convenience, we overlay the Fibonacci grid on our chart and look at the movement correction points, the strongest level is considered to be level 61.8 (as a deep correction) + in addition to this, this Fibonacci level coincides with the previous high set by the price on the chart and it is an important point for understanding the future picture on the market!
Another factor for a reversal from this point is this gap on the ProSharse Bitcoin Strategy ETF (BITO) chart
1W BITO$
As we know from analysis, gaps in the market (Gaps) must be covered by price.
If we consider that this is a set high, then we need to understand where the price can go to correct this growth and we get this chart
1W
Our first reversal point is at the 38.2 fib level, if the price does not go below it, it will mean that we have a strong growth trend
A more realistic turning point is the 0.5 correction level + coincides with previous highs and a mirror level will be formed, which will also be a good point for holding the price and moving further up the trend
The last point before the growth was the high, which coincides with the 61.8 Fibonacci retracement level
In addition to these levels, we also have unclosed gaps on BITO
1D BITO
For clarity, a 1D timeframe was taken to show all the gaps
and you can see that they are + - if we take into account the discrepancies in the length of movements between BITO and BTC, which is parallel to the levels, or at the same levels we have genes that the price needs to close
and in addition to this, if we look at the map of liquidations and the levels where we have the most stops, we will see the following picture:
that the largest part of tables and liquidations occur in similar zones which, thanks to squeezes, can trigger the domino effect and lower the price immediately and below
There is no need to read the news and search through everything in the public domain in search of information, charts never lie, they contain all the news and events, not counting emergencies and black swans
If you are interested in knowing what I think about the future movement, please like and share your opinion in the comments!)
to see original post go here
If we take away all the speculation, news and guesswork, what do we have?
In short:
The first stopping point of the cycle was the adopted ProSharse Bitcoin Strategy ETF (BITO) futures ETF.
Is a second stop possible, adopting all cellular ETFs?
1W
Using the weekly chart for convenience, we overlay the Fibonacci grid on our chart and look at the movement correction points, the strongest level is considered to be level 61.8 (as a deep correction) + in addition to this, this Fibonacci level coincides with the previous high set by the price on the chart and it is an important point for understanding the future picture on the market!
Another factor for a reversal from this point is this gap on the ProSharse Bitcoin Strategy ETF (BITO) chart
1W BITO$
As we know from analysis, gaps in the market (Gaps) must be covered by price.
If we consider that this is a set high, then we need to understand where the price can go to correct this growth and we get this chart
1W
Our first reversal point is at the 38.2 fib level, if the price does not go below it, it will mean that we have a strong growth trend
A more realistic turning point is the 0.5 correction level + coincides with previous highs and a mirror level will be formed, which will also be a good point for holding the price and moving further up the trend
The last point before the growth was the high, which coincides with the 61.8 Fibonacci retracement level
In addition to these levels, we also have unclosed gaps on BITO
1D BITO
For clarity, a 1D timeframe was taken to show all the gaps
and you can see that they are + - if we take into account the discrepancies in the length of movements between BITO and BTC, which is parallel to the levels, or at the same levels we have genes that the price needs to close
and in addition to this, if we look at the map of liquidations and the levels where we have the most stops, we will see the following picture:
that the largest part of tables and liquidations occur in similar zones which, thanks to squeezes, can trigger the domino effect and lower the price immediately and below
There is no need to read the news and search through everything in the public domain in search of information, charts never lie, they contain all the news and events, not counting emergencies and black swans
If you are interested in knowing what I think about the future movement, please like and share your opinion in the comments!)
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.
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.