BTC/USD correction to 30k-38k incoming
You need to understand overall market cycles and look at the higher timeframes before you start analysing lower timeframes.
BTC 4-year cycles consist of
- Cycle lows
- Halving
- Cycle highs
Note that right before the halving, price usually ranges or pullsback
On the weekly chart, notice the bearish order block and void on the left where liquidity exists. This is where there will be W1 resistance.
Note: Bearish order block = The last bullish candle followed by the move down. That bullish candle was responsible for the whole downwards movement. And this order block is what price has been seeking and has now been touched.
Only now do we look at the lower timeframe, D1. We can see that a D1 double top is forming.
We don't even need to analyse H4, H1, M30, M15, unless we are intraday trading. Please stop posting M15 bull flags and making a call that BTC will pump 50%.
My prediction is BTC will correct down to 30k-38k. I will load up on alts when this happens.
This is only probablistic - therefore I'm already 33% exposed to alts, in case price does continue to pump, or in case BTC ranges while alts pump.
BTC 4-year cycles consist of
- Cycle lows
- Halving
- Cycle highs
Note that right before the halving, price usually ranges or pullsback
On the weekly chart, notice the bearish order block and void on the left where liquidity exists. This is where there will be W1 resistance.
Note: Bearish order block = The last bullish candle followed by the move down. That bullish candle was responsible for the whole downwards movement. And this order block is what price has been seeking and has now been touched.
Only now do we look at the lower timeframe, D1. We can see that a D1 double top is forming.
We don't even need to analyse H4, H1, M30, M15, unless we are intraday trading. Please stop posting M15 bull flags and making a call that BTC will pump 50%.
My prediction is BTC will correct down to 30k-38k. I will load up on alts when this happens.
This is only probablistic - therefore I'm already 33% exposed to alts, in case price does continue to pump, or in case BTC ranges while alts pump.
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.