BITCOIN green candlesticks are weak more correction expected ❌🧨Hello 🐋
based on the chart, green candlesticks are become weaker and weaker and the price is in range zone and possibility for breakout of the parallel channel to the downside, and we can see 23k and 25k prices soon 📖
so
we need even more correction to the downside for long term view before huge gain ❌🧨
beside
range candlesticks to the upside and downside before any other sharp movement is logical too 📖💡
and
brief amount of gain and green candlestick is logical for future correction (suppose it as a stop loss hunting) 📖💡
Please, feel free to share your point of view, write it in the comments below, thanks 🐋
Bitcoiin
BTC USD - an observation on EMAI was just looking through the chart and noticed these few things.
The 200EMA ( Yellow) - Previously the longest below PA was 133 days in End 2019 till 1st April 2019
Currently, PA has been below the 200 for 238 days, over 100 days Longer.....A Sure sign of how havy that bear market was / IS
The 50 EMA ( RED) is another story - Previous longest below PA was 427 days from August 2014 to Oct 2015
Currently, 50 is under PA and we have till 6 March 2023 till we equal this time BUT what is VERY interesting for me is that in 2014, 84 days after PA went under the 50, it rose rapidly and touched the 50 again, trying to break through. It got rejected
And Exactly 84 days after PA went under the 50 this time, it also tried to break through the 50. It succeeded for a little while but once again, got rejected.
SO, will PA act as a fractal again and break above in March ?
Who knows...But it is certianly something I find interesting
Bitcoiin (B2G) - Range BreakoutSaying Bitcoiin is a microcap is an understatement. If I would ever even consider a position in such a small market cap with an iliquid market, a lot of things need to align. First, I would like to see a clean weekly close above the red line. Secondly, a consolidation period where we could buy a wick below the red line where price gets rejected. Finally, a relatively small volatility where a stop below the most recent swing high offers us a good risk-reward trade to our next level.
HITBTC:B2GBTC
Market Cap:
$91,583 USD
11 BTC