Cryptoxin

Cryptoxin

I guess the chart is pretty clear. I'll wait for a "Zag" in ZigZag ;) Closing my long positions there, perhaps around ~47k, rebuying around 40-42 with SL 38. Not financial advice, just sharing ideas.

Cryptoxin

Can it complete the inverse head and shoulders pattern and break the neckline? What about a double bottom at 48K?

Cryptoxin

VWAP (Volume Weighted Average Price) can perform as support level. Last time in January the 60 days VWAP (of that time) performed perfectly as a great support level, and the price correction ended there and it never broke bellow that. I expect the current price correction continue to 39-40K.

Cryptoxin

Symmetric Triangle Support: MA 200 (4H) Can perform as next support level => ~44K Resistance: ~51K

Cryptoxin

Please zoom out to see the bigger picture. Scenario A: Price can break above the resistance line and stabilize above the pitchfork midline. Then I expect the price hit 61K. Scenario B: Price fails to break above the resistance line, price can be continue to drop to the pitchforks bottomline (41K-39K) and stabilize. Then I expect a new rally begins first to the...

Cryptoxin

I believe this is a healthy and necessary pullback to the trend's midline. No need to panic yet :D However if breaks bellow 52 and 50k, I take it as end of the bull trend.

Cryptoxin

IMO BTC needs a correction to the yellow or even middle (red) line of the trend channel and try to break about 58k toward 61k.