shri2222

shri2222 Updated 

I believe we will retrace to the 0.618 retracement zone/ the prior low. I doubt we will go lower, as they say, be bullish when all others are bearish. The argument for 20k doesn't take into account the increase in the money supply, and when that is accounted for it meets pretty on par with the lowest support line in my chart. Also, we are seeing weakness due to a...

shri2222

I believe this short-term bearish move will work in the bull's favor as we start forming a bullish falling wedge and bounce off our fib retracement and our still bullish EMA ribbon which acted as support.

shri2222

As you can see my predicted triangle formation continues to form, I have not adjusted my chart in three weeks and we are still in motion caught between areas of support and resistance. I predict an upwards move, but that is will less certainty.

shri2222

As I posted a week or so ago, the triangle pattern still continues to be forming. Where do we break? I believe up. We immediately dip-buying, but I wouldn't be surprised if we go down either. The purple area was a buy zone where accumulated, if we do go below that area I would continue to accumulate. We still continue to use .5 fib as support.

shri2222

We took a big hit when Ukraine was invaded, was that enough of a final capitulation shakeout? Based on Fib levels I believe BTC has stood up fairly well when compared to other markets, and I think that shows the ability of HODLers to stand firm during capitulations at these prices. I see three possible points for a change in momentum, starting now based on where...

shri2222

As we can see fib level .618 and trend line supports are converging around 31-28k in addition to the 100 day weekly EMA. If that fails we more than likely will crash to the 20k 200day weekly EMA, I hope we don't go that low and X marks the spot and we see a strong bounce in the 31-28k zone.

shri2222

BTC is obviously going up or down, nobody knows for sure where it goes. In the short term, it still looks bearish. But there seems to be a large intersection of supports coming together. at the 31k-28k area. I doubt we will go below that, and if it is tested, I think we will see the start of a new bull run. I'm still super bullish in the long run.

shri2222

Still looking bearish short term with two possible long plays.

shri2222

I believe we will go to 28,000 and bounce, however, if we see large liquidations we can see large wick down to 18k before a massive bounce.

shri2222

I'm not a pro, but I believe we will fail to break and hold above the EMA ribbon in the short term, thus creating a bear flag that will break to the downside of the Fib .618 retracement zone 30-28k. I believe that will be a great entry for holders to load up and go long.