BTC Bull Run 0.83-3.36% 01 12 2023If you love the spot-on analysis done so far, please boost, share, comment, and follow for more.
This strategy is also used Live by Green Lion Capital Social Trading on Zignaly.
As stated in my previous analysis, I emphasized my bullish sentiment and went even further to indicate the potential oversold level. The market played nicely into this prediction. The market is currently in a space where institutions/whales might leverage the fatigues that have built up in anticipation of a bullish BTC run and use this as an opportunity to get more volume into the market before they take profit and thus prompt a reversal to find an all-time low for 2022/2023. Unfortunately, a lot of leverage positions will be liquidated as a result of this move.
For the current play, we oversold at $18,890. There are three potential take-profit points outlined below. As of this moment, I'm bearish.
Do we still have room to revisit this level before finding an all-time low for 2022/2023? Absolutely!
*** Disclaimer: a second non-public chart layout was used to officially confirm this oversold point.
Safe points to take profit:
T1: 0.83%
T2: 1.17%
T3: 3.36%
Baseline Information:
The strategy used for this analysis takes into account the following factors:
Timeframe: 3min and 5 min
Symbols: BTCUSDT , ETHUSDT , BTCDOWN, and ETHDOWN
Exchange: Binance
Indicators: For obvious reasons, precise indicators names can not be provided, but this analysis makes use of VWAP , moving averages, and Fib charts.
Chart Count: 8
Disclaimer:
The information and publications are not meant to be or constitute financial, investment, trading, or other advice or recommendations.
