Elianus

Elianus

Extremely lazy price action for a Monday around the hourly 200 EMA. Looks like accumulation. I would be looking for a quick move to 91k and then 96k. Above 96k we can say that the bulls are back.

Elianus

Obviously I have no crystal ball and even if this plays out, it will not look this clean. That being, said, assuming we reclaim the monthly open, I would be looking for a retest of 106k. Hopefully the major trendline below will hold and then the price will bounce outside the current zone and move towards a new ATH. BINANCE:BTCUSD

Elianus

Will be looking for a long once the monthly open is reclaimed. First target around 104k in the fvg block and second target is 106k.

Elianus

Looks like a dump is the more likely scenario. I cannot see it stop before 24k. If that one breaks down, 20k is next imo.

Elianus Updated 

If we break above 27600 I would look for longs. Around 29k would be my target. We either break the trendline above and move to 34k or dump to 25k and more imo.

Elianus

A little upside before the big dump imo. The channel has so far been respected.

Elianus Updated 

I believe at the very least we revisit the 28700 area. Breaking that means 30k minimum and invalidates the short thesis, for now.

Elianus Updated 

Short term relief back to day's highs before dumping further.

Elianus

A close on htf under the channel looks like a solid short opportunity. Targets included. Most likely reversal point imo would be near the midline of the large downwards channel.

Elianus

The area around 24 to 25k is a solid one for a reversal. Around 23k we have strong market structure. That is the most likely local bottom in my opinion 20k is the extreme scenario. In any case, we should head towards 35 to 37k after this dump.

Elianus Updated 

Trendline is most likely reversal point. I include the next targets if that one breaks down.