BTC (Y21.P2.E13).Price Action Scenarios
Hi Traders, investors and newbies,
Just making this quick and to the point.
> BTC has short term downward pressure, based on the smaller time frames
> How would this reflect, I see a double top as per chart below and hence it could play out the smaller micro formation out and hence it has 2 scenarios
If we go with the middle section, this will push BTC towards 58300'sh
If we go with the micro double top, this can push it to the neck line as per chart which has confluence with the 10/20 daily ema.
Since this is a short term scenario, its possible that BTC will not drop at all from here, and just go sideways therefore explaining BTC dominance rise while the ALTs drop
as many are way over extended and need a correction.
Hence you can see we have a number of factors which is hard to decipher as to the root cause.
I favor scenario 1 at the moment based on the 4 hrly chart below.
All the best,
S.SAri
BTC dominance
Just making this quick and to the point.
> BTC has short term downward pressure, based on the smaller time frames
> How would this reflect, I see a double top as per chart below and hence it could play out the smaller micro formation out and hence it has 2 scenarios
If we go with the middle section, this will push BTC towards 58300'sh
If we go with the micro double top, this can push it to the neck line as per chart which has confluence with the 10/20 daily ema.
Since this is a short term scenario, its possible that BTC will not drop at all from here, and just go sideways therefore explaining BTC dominance rise while the ALTs drop
as many are way over extended and need a correction.
Hence you can see we have a number of factors which is hard to decipher as to the root cause.
I favor scenario 1 at the moment based on the 4 hrly chart below.
All the best,
S.SAri
BTC dominance
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