BTCUSD Range Review
Updated
This is an update to replace all of my earlier BTCUSD publications. New data => new findings. It wasn't clear to me if buying pressure would persist above 8888 and ifso, at full force.
There was a little struggle around 9000 which can be read in many ways. As resistance at 9000 or 8888 or as no resistance at all because it didn't take much to break through.
Draws my attention to the triangle on the monthly time frame which allows for more upside before a likely exit north.
The date range marks the period wherein the BTC halving will likely take place. Traditionally this is preceded by a bullish market which would agree with the UJ Seasonality opening bell in development..
There was a little struggle around 9000 which can be read in many ways. As resistance at 9000 or 8888 or as no resistance at all because it didn't take much to break through.
Draws my attention to the triangle on the monthly time frame which allows for more upside before a likely exit north.
The date range marks the period wherein the BTC halving will likely take place. Traditionally this is preceded by a bullish market which would agree with the UJ Seasonality opening bell in development..
Trade active
So much for the pullback. Maybe later when stock markets go Big Short IINote
This was more like it. Stopped by the lows of 2019 instead of going deeper down which is in my opinion a good sign for BTC and will give trust to investors and likely exclude a total crash or the revisiting lows of before 2018. BTC has now set in a parabolic curve up as mentioned in my comment of my later idea published on March 8, where I also explain more on the correlation with USD devaluation. Within the next couple of days we may already witness a triangle exit.
Note
No we go swing up imhoNote
I have started to trust BTCUSD as an indicator for the USD roll over which takes places as part of UJ Seasonality opening bell. For a few months I watched BTCUSD price action while looking at the major currencies at the same time. Its sentiment exposed the trust the majority of the market has for the USD roll over to take place imho.Now I notice hesitation and that while USD is currently almost confirmed to roll over looking at the major currency pairs. Perhaps the market feels a second COVID wave coming? Time will tell.
Note
Breaking 11,645, target 20,000Note
Exceeding monthly candle size of April & July
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