BTC aims for the worstAt this point I think my worst case scenario will happen and I'd be happy if it happened quickly as I'm sick of watching this slow decline. In a previous TA I stated that worst case scenario would have been 40-41K (current 1 Fib retracement line), I think we're slowly heading there although there could be an intermediate stop around 42.7k and 43k which is the trendline over which BTC has been moving for the last year.
VLPR (not shown here) shows transactions at current price level so it's unlikely this price decline will stop all of a sudded, we need to hit a significative price (maybe 40k) or the major trendline. Indicators show the first signs of a bullish DIV, here I show you only two of different I've used but again, for its effects to take place it'll take time and until that happen I think at this point we'll hit those support I've written about above.
If you DCA alts and BTC you'll be fine, especially if you still have money to buy, if you finished your fiat (like myself) you'll be fine as well. If you have bags since the start of the dump you'll have to wait a while before reaching previous price levels, probably at least months.
Good luck
Btcdump
Bitcoin Wyckoff Price Cyclehey guys, here is wyckoff price cycle pattern. which is one of the probability for bitcoin to follow in coming days.
BTC near futureI think we still go down but we can still get the big short if we missed it :) there is a trend from above that is clearer on smaller timeframe but tradingview doesn't allow to publish in those timeframes so... yeah the blue trend is there and The Red brush is what I think possibly will happen.
BTC update:BTC update:
BTC is trying hard to break above the 21 MA. Once it breaks above this MA then we may possibly see BTC reaching $68k to $70k.
If BTC fails to hold the current support level and breaks below the lower trendline then we may see BTC dropping to $60k or even lower.
Key points to monitor will be:
1. The daily close above $65k.
2. BTC breaking above the 21 MA.
3. Support level at $62k to $63k.
Trade safe and stay tuned.
Another Head and Shoulders on BTCUSDFound another Head and Shoulders pattern on 4h this time! If we got a 4h close below the neckline i.e. around $47000, we can see the price at $46600 which is 100 Exponential Moving Average in 4h timeframe. I am expecting a price pullback from this level to retest the neckline of Heads and Shoulders.
If the retest is done successfully, on breaking the previous local low i.e. $46600, we can get a support at $46000 (daily EMA support). Technically, targets are around the same $42000 weekly/daily support region which I have also marked in my previous idea " : Price Action & My Opinion":
If we look in Daily Timeframe the price, we can also observe a Ascending Broadening Wedge Pattern which can broke on either sides!
Muneeb
lets see how it play out [BITCOIN]by analysing the 4h chart the btc/usd chart is moving toward the support of around 33k , then the price could bounce back and have some upward relief rally , but my concern is that if we break a level around 30k , our bull market is coming to an end .
30k level is very important to hold ......