Btctrend
#Bitcoin - Thoughts out loud #5Good afternoon , dear colleagues!
I'm happy to welcome everyone who wants to get acquainted with my vision of the current situation on this instrument.
At the moment, the downtrend is slowly fading and the asset is starting to show strength. Confirmation of the buyer's presence is needed to make a definite decision. Local longs are possible.
What are your thoughts before the weekend?
Dear colleagues, I sincerely thank you all for your attention and wish you all success!
And remember one thing:
"sometimes you win , sometimes you learn ".
BTC - PSYCHOLOGY PHASES OF THE MARKET + WYCKOFF METHOD PHASES
- BTC in key support zone
- Psychologically in the Anger area, possible new pump to look for the 25k , and then keep falling. If it loses the current support it could start a downtrend.
- According to Wyckoff's theory, we are in phase B where the price can still fall, breaking the following supports to look for even lower minimum prices of 15,000
I will follow the development of this graph weekly
BTC Wave Analysis + Trade SetupI think that wave A of (A B C) is complete and we are currently in wave B.
Warning: Wave B itself consists of 3 waves, the third wave being the longest wave.
After reaching the specified target, I strongly warn the owners of altcoins that the risk of most altcoins becoming zero is very high. (No matter how valuable gold is, if it is bought at a bad time and at a bad price, it is no different from a piece of garbage.)
Be successful and profitable
BTC/USDTHead And Shoulders Chart Pattern
The Head and Shoulders pattern is very easy to spot and can be a caution for traders especially when the pattern occurs at the top end of a rally or its bearish counterpart, the inverse head, and shoulders that occurs at the trough of a downtrend.
In the chart above, you can see the basic structure and the setup of the head and shoulders pattern (bullish and bearish). The neckline support (or resistance) is the key as a breakout from this level indicates a shift in the trend.
The most basic way to trade the head and shoulders pattern is to wait for the breakout from the neckline. Some traders prefer to wait for a retest back to the neckline while others simply buy or sell on the breakout. The target is set to a measured move, measured from the head (high or low) to the neckline (support or resistance) and projected from there on.
BTC/USDTRectangle Pattern Up Trend
The price is constrained by support and resistance levels in the Rectangle pattern. This means observing the pattern on a chart, and traders need to look for a price between the two horizontal lines.
The Rectangle marks several highs and lows. These highs and lows indicate a period of consolidation. Also, there is indecision in the market where buyers and sellers are competing with one another.
To identify the pattern, traders need to navigate it on either an uptrend or a downtrend. The price would then form several peaks and troughs. Finally, the breakout candle would confirm the direction of the trend.
L9 - BTC Trend Analysis (Cycle/Halving)This chart is the study of previous cycles of BTC;
• BTC take appx 47-48 months to create new ATH from the previous one.
o As per the projections next ATH will be created in the Months of Sep-Nov 2025.
• BTC takes 12-13 months to create the bottom of the cycle from ATH of the cycle.
o As per the projections, BTC will create bottom in the months of Dec’ 22 – Jan’ 23.
• BTC normally drops between 84%-86% after creating ATH in next 12-13 months.
o At 85% BTC bottom for the cycle is projected at $10,000