Accumulation season at its best
Hello guys and girls, it's been a year and a month since I published my last idea, but guess what? we are in the same accumulation period as we were 6 months ago.
This is my last idea:
As you can see, the price action is being boring, all the action is below that fib retracement .236 in smaller TF you can get some profits with low risk, but nothing to be crazy about.
We need to break through 30k-35k, more or less where the B point is (cypher pattern), to have a modest bullish rally close to 35k-40k. But even if we get there it won't be tomorrow or for Xmas, we have to be prepared for a boring end of 2023.
RSI is again below midpoint 50, according to my indicator, we just had a bear cross (green over red), so the price action is droping a few hundreds of dollars, we just had also a bearish divergence before that drop on Aug the 23rd.
The powerful 150 EMA is now acting as resistance with the rest of the MAs, check that out in lower TF as well.
Pay attention to all the indicators, do not relay on one analysis technique, check for divergences, EMAs, support and resistance levels, candles, and so on.
The last accumulation season from April 2018 to June 2019 is a good example about BTC behavior, so far, we have been there since June 2022. Pay attention to fundamentals also.
Harmonics have been playing with BTC and viceversa, since I can't' remember, I love those powerful patterns, they have an accuracy around 77% but i feel they've been underestimated and with no attention from the crypto community.
Checkout my profile, it's full of analysis based on these patterns, you will be surprised
Please trade safe
This is my last idea:
As you can see, the price action is being boring, all the action is below that fib retracement .236 in smaller TF you can get some profits with low risk, but nothing to be crazy about.
We need to break through 30k-35k, more or less where the B point is (cypher pattern), to have a modest bullish rally close to 35k-40k. But even if we get there it won't be tomorrow or for Xmas, we have to be prepared for a boring end of 2023.
RSI is again below midpoint 50, according to my indicator, we just had a bear cross (green over red), so the price action is droping a few hundreds of dollars, we just had also a bearish divergence before that drop on Aug the 23rd.
The powerful 150 EMA is now acting as resistance with the rest of the MAs, check that out in lower TF as well.
Pay attention to all the indicators, do not relay on one analysis technique, check for divergences, EMAs, support and resistance levels, candles, and so on.
The last accumulation season from April 2018 to June 2019 is a good example about BTC behavior, so far, we have been there since June 2022. Pay attention to fundamentals also.
Harmonics have been playing with BTC and viceversa, since I can't' remember, I love those powerful patterns, they have an accuracy around 77% but i feel they've been underestimated and with no attention from the crypto community.
Checkout my profile, it's full of analysis based on these patterns, you will be surprised
Please trade safe
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