This is the downtrend setup that currently BTC is forming , Orange lines are same line with same slope as 2022 drop from 70k back to 16k , yellow lines are uptrend lines from 16k , Gann start is at orange line and the gann end is when yellow line and orange line meets ( meaning that after that time it wouldnt be possible to go lower than yellow line or else BTC will enter macro bear market ( which is very unlikely because it's bad for business of blackrock and exchanges)
Trading with this is very simple as long as BTC doesnt pass orange line which is currently around 100800 then we are in a downtrend,maximum possible drop is 73k , since we are now much more close to the top than the bottom it's better to stay from long and only short .
We need to go beyond 100800 and a good and possitive narrative to go higher until then price should keep going down .
Also be aware that this is not the only possible setup , there is also another Gann which pointing toward 200k in 2026, price always have possibility to go higher or lower at the same time , which one manifest first is mostly depends on narrative , economic and what wealthy people expect to happen
Trading with this is very simple as long as BTC doesnt pass orange line which is currently around 100800 then we are in a downtrend,maximum possible drop is 73k , since we are now much more close to the top than the bottom it's better to stay from long and only short .
We need to go beyond 100800 and a good and possitive narrative to go higher until then price should keep going down .
Also be aware that this is not the only possible setup , there is also another Gann which pointing toward 200k in 2026, price always have possibility to go higher or lower at the same time , which one manifest first is mostly depends on narrative , economic and what wealthy people expect to happen
Trade active
By a closer look we can clearly see how it's respecting the lines
Order cancelled
For now it seems that price is heading toward orange line at 100800, I will wait untill I see signs of rejection to enter a sellNote
Price seems to respect gann circles, entering some short position at 98500, will dca more to it if we reach 100500 , stop loss is 102k
Note
Perfect entry for my short, I actually wanted to see 100500 to short more but that bybit hack cause a faster rejection
Note
Next area of support is somewhere around 92500, but it's also possible to go up once again to test the circlt again because right now we are leaving a big fairvalue gap to the upsideNote
Closed my shorts in bottom circle at 87k
Note
if it doesnt get above 87k then more pain will come next stop is 84k and then 79k
Note
It did what I expected,
75-79k is major area of interest for both bulls and bears bounce from here can make a multimonth uptrend toward 158k but it's still to soon to think about those prices , we first need to see if it can hold the price or not
Note
It's very nice to see how accurate this ganns are , haha most accurate prediction and still pumping from mid line but only two likes , people really hate to make money I guess 😂
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.
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.