Morning everybody, So, once again H&S from our last report has become great indicator of further action. It has failed, and failed miserably. Once again it shows how important to have clear pattern that lets you to minimize potential loss. I'm sure, somebody, who have traded H&S failure were able to get good result. Anyway, today is nothing to discuss on lower...
Morning folks, As we've suggested last time, in general BTC keeps bullish context but it would be better to buy as close to local lows as possible. It seems that H&S pattern becomes the favorite one for the BTC market. Now - once again, if you intend to go long, this is the time for decision making, as price is coiling around the right arm's bottom. The stop is...
Morning folks, So, BTC finally has dropped to predefined 51-53K strong support area, and based on technical picture it is suitable enough to reverse price. At the same time with Omicron panic around the Globe, the reversal process might be tricky and BTC could show more volatility around this level. In fact, we have a lot of different bullish signs that point on...
Morning folks, Last time we've said that price performance with supposed H&S pattern should clarify the sentiment and direction. Now we see that performance looks a bit heavy. This is not the one that you expect to see with bullish reversal pattern. The logic of H&S suggests that the 2nd half of the pattern should be controlled by bulls, that we do not see here....
Morning folks, Last time we were watching for H&S on 1H chart that perfectly clarified situation to us. Now, market has completed next downside 4H target at 15.5K and is forming the same pattern but of a bit bigger scale. So, we once again intend to use it. For the bulls - you have to make decision right now as price stands at the bottom of the right arm. You...
Morning guys, So a lot of concern now stands on next BTC step. Our downside AB=CD retracement is completed perfectly as market hits 59.5 support and target area. Our answer is simple here. On 1H chart market always equally reacts on support. It starts forming a kind of H&S shape - so you could see the similarity by yourself from our chart. It means that this is...
Greetings everybody, So last week was relatively quiet with no impact on higher time frames. Market stands in consolidation, slightly was hit by CPI report. So the same question we have on the table now - whether it will be deeper AB=CD retracement or, market could start moving higher immediately. To answer it, we need to control two vital levels that are...
Morning folks, So the drop that we've discussed last time has happened but due to absolutely different reason - CPI report. Now the question is, how long CPI effect will be. As BTC has general bullish context sooner rather than later it should keep going higher. Here we have two scenarios. To understand which one will be formed - we need to keep an eye on...
Morning folks, So, it seems our bet on triangle's direct breakout is worked and we hope that we're in continuation mode to the major upside targets. At least fundamental background that we've got last week stands supportive to BTC upward action. So, those who haven't taken position inside the triangle now we could consider 63.5-63.8 K-support area on 1H chart...
Morning folks, So, H&S pattern has played nice, despite that we saw some speculative tricks during Fed statement... Now we should pay attention to daily chart that is forming bullish context. We're tending to suggestion that BTC should show direct upward continuation without any deeper retracement. Once first downside bounce happened, we had few potential...
Hey everybody, BTC still stands with suggested retracement out from 67K month target. We still have two major destination points for it - 56.25K and 51.65K, although we hope that it wouldn't go so far... Today we would like to share with some add-on to the retracement's shape that might be interesting. Currently it is impossible to say, whether this scenario...
Good morning folks, As BTC is getting clearer shape, now we could talk about potential targets of downside retracement. Triangle has not been formed, so, immediate upward continuation was taken off the table. Now it is clear H&S shape and it has two potential targets. First one is very close, that is AB=CD that agrees with strong Fib support area. This is the...
Good morning folks, So the first downside reaction starts as we've discussed it last time. Now, it is too big task to explore possible shapes and describe them here - just watch the video on FPA site if you're interested... Here I would say only that we need to control the depth of the reaction. First is, if market starts to form the triangle - this is the...
Morning folks, So, BTC hits ATH and 0.618 (COP) 67K extension on monthly chart. This is first upside target of new large AB-CD pattern. Also price hits weekly overbought. Technically, picture definitely suggests that BTC should go higher in long-term. Our first target is 75-77K. But in near-term the major question is whether it shows any reaction on the top and...
Morning folks, So BTC stands nice and we have no doubts in long term bullish context. So our attention right now mostly on short term performance as many people ask where next chance for entry could appear. Right now BTC stands at weekly overbought area and is coming to targets of COP ~ 67K on monthly chart and daily OP at 64K. I suspect that 67K might be hit...
Morning folks, BTC performance now looks great. We consider at this moment only long position taking, at least on daily and above time frames. But to do this we need more or less moderate retracement. Right now, as price hits 1.27 upside extension on daily chart, this is the chance that maybe we get some pullback. In this case we consider 50.7-51K as primary...
Morning folks, So, BTC has got rather strong positive injection from JP so it has not formed even minor pullback before the rally that we have discussed lat time. Now market has no significant barriers till the former ATH top. Besides, based on the market mechanics, BTC should not show any deep retracements any more. It means that currently we could consider...
Morning guys, Market has completed our former setup with upside retracement and forming of "222" Sell pattern on 1H chart (look for our previous idea on BTC). Now, following this logic, we should get AB=CD drop on 4H chart right to our major support area around 4650. Potentially we could get "222" Buy as well. Let's see what will happen...