Btc_usd
BTCUSD: Feb 3 update & Feb 4th + 5th ProjectionI am an amateur technical analyst. This is not financial advice. You should always do your own research. Consider this post as entertainment. I'm simply sharing what I see in the charts and always welcome collaboration and feedback.
Updating my previous post of Feb 3rd. BTCUSD stayed within the fractal and yesterday went the full depth of the fractal bar. So far, the fractal remains intact as the market continues to work within the pattern of the May '21 fractal.
Based on the fractal pattern, today and tomorrow should be up days. There's a possibility that we reach as high as 41,250, which is the upper trend line above the pattern, and would be slightly above tomorrow's daily bar. After tomorrow, the pattern indicates a gradual decline until Feb 21st. Feb 21st then offers the opportunity for a reversal and potentially the launch pad for ALT season.
BTC, BITCOIN, DAY TRADING, SIGNALBitcoin price is looking short-term bullish and likely we’ll ride the wave to 40k.
On probability and a little #TA, it’s more likely a bull trap before #BTC will crash to 30k or lower.
Until we get a daily close above 52k, nothing will invalidate the bears. In out view 30% chance BTC breaks out and up.. 70% crashes to 30k
BTC what will come first ?BTC / USDT
BITCOIN still correcting in this pattern since early November
WHAT NEXT ?
Until now Bitcoin still not able to flip major resistance on high time frames between 40k-44k
Scenario 1: test major support 32k-28k
Scenario 2: if price able to close weekly above major resistance + hold above falling wedge we can expect new bullish wave
Current condition : need patience and don’t rush into many trades until market choose the next movement
BTC May '21 Fractal Tracks to Current BTC Price Action (updated First, know that I am an amateur technical analyst.
This is not financial advice. You should always do your own research. Consider this post as entertainment. I'm simply sharing what I see in the charts and always welcome collaboration and feedback.
Updating my previous post of Feb 2 to add anticipated target zone for the current retracement
BTCUSD Bull and Bear outcomesOn the left I assume the Parabolic trend hodls, coupled with a double bottom , leading to price increase on the Weekly timeframe
On the right I assume a third breakdown under the same Parabolic trend occurs, as indicated by (1). This provides symmetry for the current formation and allows for the third dip.
Red pill, blue pill