Short

30M Breakdown BTCUSD Crucial Close in the Rotation Zone.

By Thisisnotfinancialadvice

Updated

30M

Previous Analysis

So here we are, the 30 minute breakdown isn't a big factor but the close in 3 hours on the daily is. The 30 minute breakdown here could send the price back below the TZ and depending on where will decide if we go sideways or breakdown.

A daily close above the TZ is super bullish. IE above ATH.

The weekly and daily are in bullish territory, but all tops are.

So this may be the beginning of a double top.
We will see if we get a breakdown with a lot of follow through.

If we can hold price in between the TZ's then all bets are off as this could break either direction.

This is not financial advice.

Bitcoin at resistance on the gold gann chart.

Note

I'm thinking the first wave .01-1k, then 100.00-20.000 is 3/4, with a large abc pattern, then a simple fifth wave that is fairly short, 3k-64k.

I'm also thinking this will be a huge drop, very quickly, with war/shortages/economic collapse underway, followed by a frenzy to buy precious metals, and then when that runs out people will turn to digital currrency which will be hard to get with power and internet outages abound, but still better than the worthless fiat system.

This will create the largest drop and wick we may ever see. A short wave I structure, then the 3/4 will be complexe and nearly a decade long consolidation as digital currencies find their way throught the economies.

After that bitcoin will likely behave like typical fiat/forex markets unless it gets dethroned or bugs out/hacked.

Note

So the breakdown took us back to the 21EMA/keltner channel there it found support and pushed into ATH territory. Now what we need for more bullish action instead of a fake out, is follow through and a daily close above ath.

There is still a bearish scenario in play, but time will tell.

30M

The 4H has not had enough momentum to breakout, so a bigger push up is needed.

Note

The 2 hour has broken down:

Note

The 4 hour is int he rotation zone (21 ema/kc) and could restart the bullish run up in this area:

Thisisnotfinancialadvice

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.