Observations:
1. Obviously bearish trend
2. Looks like a downward wedge > looking at 136 as the major support. If that fails, volatility between 110 -145 range at the bottom for the coming weeks\months. This reflects BTC 3k to 4k range.
3. Pay attention to the volume. We note in YELLOW when we had a bullish trend in the 6k range. If we are to have the bottom or next bullish\reversal, we need to see a large GREEN candle.
My thoughts:
* We know Volume speaks loud and we don't have it to stop this downtrend yet.
* I think that we have be told for many months that BTC's bottom will be 3k to 4k to complete the cycle. This undoubtfully this is where the majority of people mindset (sometimes a means of manipulation) so those who are patient, are waiting to enter in this realm.
* I also think the 2k is possible. Either way we have to watch the charts at the time. Making any forecast from this point is not really helpful.
So its best to now look at BTC paired opportunities for each drop. Otherwise wait for the main supports.
1. Obviously bearish trend
2. Looks like a downward wedge > looking at 136 as the major support. If that fails, volatility between 110 -145 range at the bottom for the coming weeks\months. This reflects BTC 3k to 4k range.
3. Pay attention to the volume. We note in YELLOW when we had a bullish trend in the 6k range. If we are to have the bottom or next bullish\reversal, we need to see a large GREEN candle.
My thoughts:
* We know Volume speaks loud and we don't have it to stop this downtrend yet.
* I think that we have be told for many months that BTC's bottom will be 3k to 4k to complete the cycle. This undoubtfully this is where the majority of people mindset (sometimes a means of manipulation) so those who are patient, are waiting to enter in this realm.
* I also think the 2k is possible. Either way we have to watch the charts at the time. Making any forecast from this point is not really helpful.
So its best to now look at BTC paired opportunities for each drop. Otherwise wait for the main supports.
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ETH 130 strong support, equates to BTC 4400 strong support.What next.. a bit of an attempt to recover (up) but it will fail at 140 resistance as the volume is still not convincing.
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OR with lower highs (then the bears jump in because they bought on the bottom)Trade active
On the money on this one :)Trade active
We are approaching the horizontal and slope resistance. If it passes these 2, we can say we have a small opportunity to go short.Trade active
For today I think we hit bottom at 112.8. So for the day trader, good opportunities and more sideways trading. Happy day trading as I feel next few days it will give a few opportunities just like the 120 range. Enjoy!!3 min chart
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Next stage for bearish market will equate to BTC 3000s low and that is ETH range 80 - 97.Note
Candles still remain below EMA's. Similar to BTC (descending triangle) we have a decending wedge or triangle and it reflects it on the RSI and volume in the 30min and potentially in the 1hrly. Drop will occur close to 103.Trade active
Note, upon Closer look, the squeeze is coming from the bottom, so a small push up is due , temporarily as the volume is low.
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This community has signals now but with no risk management comms.
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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.
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
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.
Related publications
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.