Morning folks, So, 47.2K target is also completed. The next one is 50.50-52K, which is a big monthly cluster, including upside weekly XOP target, our XOP here, from reverse H&S target that we're trading now (it stands around 50.50K), Yearly Pivot Resistance 1. But for now it seems market needs some tactical pause. Now major 5/8 monthly Fib resistance is hit,...
Morning folks, Sorry for a bit messy chart, just try to put everything necessary here. So, our minimum target is mostly done - 45K area. Next one is 47.22K - H&S major target. But, since the 45K area is moderate resistance level, it is normal to expect tactical down reaction on it, somewhere to 44K area at least. Before upside action will continue
Morning folks, So, today we take a look at daily chart finally. Last time we've discussed upside bounce that should become the right arm of H&S pattern on 1H chart. Indeed, upside bounce has happened, and it seems that it has become the arm of H&S, but there are few nuances... H&S on 1H chart stands too distorted and skewed to the upside. And we do not want to...
Morning folks, This post should be considered as practical add-on to our major upside scenario. Now we consider reverse H&S pattern on 4H chart. Market has reshaped it a bit, so we haven't got desirable retracement yet (i.e. right arm is not formed yet). But, it could be soon. On 1H chart you could see potential downside H&S. BUt the problem is - the 4H arm...
Morning folks, So, our 3-Drive and H&S pattern that we've discussed have completed. But, as we consider 45K level as major target for this trading setup - we expect continuation. Meantime, market hits 42.6K target and 3/8 Fib resistance on daily chart. It needs some tactical pullback. We suggest that 41-41.2K support is the most probable area. Then, if...
Morning folks, So, BTC was not strong enough to form H&S and just collapsed lower. Now finally we get patterns that could become a starting point for pullback. Here is 4H 3-Drive Buy pattern that has minor reverse H&S on the bottom. We suggest that it is possible to consider long position because now it is accompanied with reasonable risk. We see 45K level as...
Morning folks, This update is better to watch with the previous one, so you better understand what we're talking about... So, BTC has slipped a bit lower. This is not yet the action that we've discussed in our previous scenario. With this downside action now the H&S pattern on 4H chart starts looking even better. Today we consider upside background that is a...
Morning folks, So, there some some jokes on the market already that BTC is becoming a stable coin... Indeed volatility has dropped drastically. But this could easily explained. If nobody is buying right now but all selling offers are swallowed by ETF whales - where coin should move? For instance, only BlackRock as bought in a single session this week more than...
Morning folks, So, indeed market has shown upside action to 49K after our last update, but later has broken, as we said, vital area for the bulls. For now ETF approvement doesn't fit to expectations much. In general, BTC has dropped for ~8%. But, at the same time - let's do not overreact on this. Yes, drop is significant, but it doesn't break major upside...
Morning folks, So, our 47.35K target has been hit on fake ETF approvement ;) Anyway, right now the major question is about stability of demand. Ambitions and emotions have got a release after ETF approvement and we have to be sure that bulls have sufficient power to keep moving higher. Because technically market has no problems for upside action - no...
Morning folks, So, just we've completed with triumph our bullish setup on Monday - situation has changed drastically. Drivers of collapse is a separate topic for discussion. But it seems that market is very nervous now, not knowing in what direction to follow. This in turn tells, that ETF background as a driving power of the bulls is exhausted. Today we do not...
Happy New Year to everybody! Hopefully you're feeling well after furious celebration ;) So, BTC keeps bullish context. Despite our recent idea with H&S has not been materialized, but BTC keeps vital condition for bullish context - it remains inside the triangle. Besides, now, we have another reverse H&S with absolutely the same potential entry area around...
Morning folks, So, downside action has happened, even deeper than we thought. Bearish grabber on daily chart still exists and suggests potential drop below 40K area. Still, this is just the pattern and could fail as any other one. To bet against it or not - this choice is up to you, we just share with our thoughts on the suggest. First is, downside action on...
Merry Xmas everybody, So, our suggested pullback to ~43K support has happened. But the problem is - we've got the daily bearish grabber with discussed "222" Sell. Grabber suggests drop back to ~ 40K lows... It means that current level is vital for BTC. If it still has bullish sentiment, it should start raising now and erase the grabber. Otherwise, if K-support...
Morning folks, So, our bullish setup has worked properly, market has completed intraday XOP around 43K area. We suggest that in perspective of 1-2 weeks BTC has good chances to proceed higher and challenge local top. But for now, as we're coming to long holidays and we have "222" Sell in place on daily chart, we suggest retracement, at least to 42.70-42.75K...
Morning folks, So, BTC has failed immediate upside breakout, although it really has tried... Now it seems that market is not too happy with recent Fed decision and has not joined to common euphoria. This is understandable, because number of BTC rivals now are increasing. Still, we suggest that bullish context is not totally destroyed yet and mostly depends on...
Morning folks, So, daily momentum trade has worked nice, minimal 43K target is completed. Now the major riddle stands around current rally - whether this is continuation of major tendency or 2nd downside leg is still possible. So, once 1H chart target will be achieved, we intend to see what market reaction will follow and what patterns will be formed around it...
Morning folks, So, Thu plan as worked accurately - BTC has dropped precisely to 41K support area. Now it stands oversold on daily chart and near strong Fib support. Thus, we do not consider any shorts by far, but watching for scalp bullish positions instead, suggesting that upside bounce should be at least to 43K area (or even above the top if BTC wil form...