Well as we all know general sentiment of market is about to break! We are closing on in an upcoming recession and we have been in a outraging bear market for months already. Right now BTC is holding 19-20K for a very good time but if you look at the pattern of charts it makes it obvious that breaking this level is inevitable. This level has been tested for 3-4...
Perfect imbalance to chart to catch a good short out of it! TP1 19490
BTC is now trading at 27.5k and may lose this support soon. How soon is the question and if we get a bounce back first to retest 800EMA on daily at 32.2k or not. Next zones of interest with A LOT of confluences are 26k, 23.5k, 20k and most importantly 12.5k _____________ NFA, DYOR
Last hour candle close above the 50EMA so if enough volume comes in now we can see around +3% upside move for BTC which would break above the 800EMA on 1h which has been holding BTC down FOREVER! (check the chart for past timeline) Let's see what happens. NFA, DYOR.
Volume now has come into the chart we got ourselves a blue vector candle let's see if we can actually recover the daily open here! (TP1: 30870)
If u haven't already check out my last two TA on BTC u can pretty much see the movement in chart. S&P and NASDQ are + for today. This move probably was a stop hunt and now BTC has formed Blue vector candle which indicates reversal of price and volume is present. let's long it! NFA, DYOR. my entry: 30106
Price reacted nicely to 0.236 fib retracement (29771). With green vector candle present on 1h timeframe and this support on 0.236 fib my next point of interest is 30359 which is slightly below 800EMA on 30min chart and slightly below 0.5 fib retracement and next TP would be 30640 which has shown to be a zone of interest. NFA, DYOR.
Stopping green volume candle is forming! Nice W formation is happening. Let's long again. TP1, 2, 3 on chart. NFA, DYOR.
There hasn't been much volume yet after rejection of 800EMA on 1h. But there has been some stopping volume candles forming at 29200 which was the last week low too. But there is also vector candles present at 27k range which by the market sentiment we may very well test it or may fail at those levels too. I'm waiting for confirmation of which will happen.
BTC did broke the MA and retested the last week low for now and there is stopping volume candle on 1h. Let's build some long position here for retracement to 30300. NFA, DYOR.
Target 30300 for retest then see what happens. NFA, DYOR. Overall picture after this retest another push to the upside is very possible but the overall economic picture is not that good maybe we go lower than that.
BTC rn is at 50ema on 4h and is consolidating here. If it breaks above it on retest there is a setup for long but if it gets rejected price can fall to lower support levels which should give a short setup up first followed by a long cause mid-term the pattern is bullish but short term market is indecisive yet.
DXY has been going parabolic for months now and yesterday hit around 104.95 (now trading at 104.55). Until DXY hasn't consolidated below 100 I would not be too bullish on BTC but a nice rejection is a nice rejection for now. I'm looking for 35K BTC coming soon before another major move.
Market looks promising for mid-term target. Give ur trade enough room for stop-loss but we should see another rebound before another leg down. NFA, DYOR.
$ dominance has been in an uptrend for quite some time now and has broken out of the trend line, tested 6.2% and got rejected back to 5.6% and now is at 6%. Maybe another pullback to 5-5.33% level which should put BTC at 33-35k range is in play?
Open long position 11.5 rebuy 11.3 TP1 16.5 ============================ 5x leverage. Let's get ready for a pump!
Open long position: 0.30 rebuy 0.29 =============================== TP1: 0.43 Let's see what happens. X5 leverage.
Based on indicators and previous patterns I think BTC will first break 40k resistance for now but we will have another pullback to 29-33k support and that will probably be the bottom for this magic internet money! As always NFA, DYOR.