BTC about to hit 50K Bulls are showing strength but we can see that strategy wise long should be already secured.
In case of further up, I watch the chart where it says spike up potential because I think that this is an area that bulls aim for.
The market might also go into deep correction IMO and bulls need to secure the trade even if goes up.
NANP - no advice no promise
for more updates follow the links on my profile.
good luck
Nanp
Is BTC done selling?Hello,
The market took a down hit and bulls paid the price for now.
Already afraid to put green icons on the chart but because the bearish scenario and control are all over the place BUT I present the "not so common" scenario IMO.
What are we looking at?
1h chart regular candles.
Indicators need bull activity to print the ideas that are placed on the chart.
- An uptrend on the EFI that must hold above the line for PA to be bullish.
- A "bullish cross" on fisher might suggest this TF selling needs some rest.
- and the RSi which is struggling and needs to break the yellow line ANNND gets to a positive phase above 50, which is still far from us.
secure trades, lower levels are very possible.
which? 37-38k.
Daily view naked:
Daily view plotted:
thanks for reading and give like if liked.
for more ideas of mine check links in my profile.
NANP - NO advice NO promise
Bitcoin Possible pullbacks and resistance areas - NANPHey
I've added possible upper near-term resistance levels in case of further move up.
The start of the week might bring a new force to market.
Possible meaningful pullbacks are also marked with yellow circles.
Trade safe and use SL
NANP - No advice NO promise