BTCUSD 1H Interday levelsBTCUSD 1H Interday levels - We see a nice resistance at the POC of the last 11 hours, if we close below this POC we will break the 0.5 and come down to the 0.618 where we also have a 0.5 on a higher time frame and we have the VAL (Volume Area Low) of the overall range, I'll be looking at the 0.618 for a potential long (probably for a nice few hours/days)
BTCEUR
BTCUSD 1H Long/BullishBTCUSD 1H Long/Bullish We recently started seeing nice movements to the upside, we took our profits at the top resistance area since we had confluence from a Fibonacci Retracement, POC, and Range Mid. We took a short position at the resistance and went straight down to our first strong support area at the 0.382/0.618 of a Fibonacci Retracement (also haves a Fibonacci Extension 0.618 that I didn't mark on the chart). Now we just saw a Retracement that ended PERCENTLY at our 0.328/0.618 Fibonacci Retracement Confluence so we closed our short and entered a long, I don't know for sure if we will have resistance again at the Top Resistance Area (With the Fib, POC and Mid Range confluence) or if we will break it so once we reach that level I will be taking some profits and watch the market very carefully! Traders Gain Losers Complain!!!!!
Bulls may have a full recoveryAny more sell off and our rsi is going to hit a nice undersold value and top of that a bearish divergence with the macd which lines up a good bear trap which is a prime position for the bulls to retrace with strength and cut off weak links.
RSI will be oversold if bears push anymore ,which will develop a bear trap with bearish divergence indicators in favor
Bounce with strength will cause bears a reduced position at the 38-40k line again.with 2ndary test viable for bulls
BTC is bearish and bullishI'm seeing a big 'H&S' but also a 'broadening bottoms' pattern. The wedges in price action open outwards which represent increasing volatility. This could break out upwards. But not sure for how long. We can also go sideways for months and it can also drop to the next support level. Time will tell.
Wait for next bottom + divergence!As always - wait for the dead cat to bounce to make a bet that it is not dead after all.
In other words - wait for a lower bottom with bullish divergence and decide whether to make a bet or not if that happens based on the sentiment in all financial markets.
Marked "short" due to my belief that we will see lower prices soon - not because I recommend open short positions, as I think the market in untradeable atm.
DYOR.
NFA.
Never take the word of others as a given!
I wish you all well :)
Bitcoin NEEDS To Do This To Become Bullish MartyBoots here. I have been trading for 14 - 15 years and I am here to share my ideas with you to help the Crypto space.
Bitcoin needs to do this to become bullish
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BITCOIN AND MAKING THE WEIMAR REPUBLIC GREAT AGAINRecommended readings:
The Big Reset: Gold Wars and the Financial Endgame by Willem Middelkoop
The Death of Democracy: Hitler's Rise to Power and the Downfall of the Weimar Republic Hardcover by Benjamin Carter Hett
Patterns of Empire: The British and American Empires, 1688 to the Present by Julian Go
7 Stages of Empire: A Cautionary Pattern in History by Clark Grey Howell
The Digital Disruption: The Past, Present, and Future Of Digitalization and Its Impact on The World We Live In Paperback by OSAMA MOHAMMED ALZOUBI
Turing: Pioneer of the Information Age Illustrated Edition, Kindle Edition by B. Jack Copeland
When Money Destroys Nations: How Hyperinflation Ruined Zimbabwe, How Ordinary People Survived, and Warnings for Nations by Philip Haslam