Hi Folks,
BTC is still evolving in a bear channel.
On last analysis, we were starting a new bullish trend (Countdown 1/13).
This bullish countdown has not yet been invalidated (2/13), however we are now in a more bearish posture: On August 28th, we triggered a sell signal with a red 2 closing below red 1 low.
BTC is now sitting on 2 supports:
- TDST Support Lines @9500 USD
- Bear channel middle line @9400 USD
If today or tomorrow price close below red candle 3 low (August 29th low), we could trigger a second sell signal and add to the first position.
Even if we are now advanced in the setup count (5/9), the breakdown of these 2 supports could smatch down the price to the lower line of the bear channel.
Otherwise, if the 2 supports holds, we could quickly price flipped and continue the bullish sequential countdown and form a bar 3/13.
I still favor the bull flag, but for now I prefer to remain neutral.
MATHR3E
Sequential indicators:
BTC is still evolving in a bear channel.
On last analysis, we were starting a new bullish trend (Countdown 1/13).
This bullish countdown has not yet been invalidated (2/13), however we are now in a more bearish posture: On August 28th, we triggered a sell signal with a red 2 closing below red 1 low.
BTC is now sitting on 2 supports:
- TDST Support Lines @9500 USD
- Bear channel middle line @9400 USD
If today or tomorrow price close below red candle 3 low (August 29th low), we could trigger a second sell signal and add to the first position.
Even if we are now advanced in the setup count (5/9), the breakdown of these 2 supports could smatch down the price to the lower line of the bear channel.
Otherwise, if the 2 supports holds, we could quickly price flipped and continue the bullish sequential countdown and form a bar 3/13.
I still favor the bull flag, but for now I prefer to remain neutral.
MATHR3E
Sequential indicators:
Note
Bulls could appear at this point. We are sitting on 2 supports as indicated in the previous analysis and 4H Chart now shows a possible exhaustion point with a sequential BUY Countdown (S13)
Note
4H S13 played out nicely:
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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.
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⬛ Access to MATHR3E Indicators 📈🔓:
⬛ patreon.com/MATHR3E/
🟩➖➖➖➖➖➖➖➖➖➖➖➖➖➖🟩
⬛ Access to MATHR3E Indicators 📈🔓:
⬛ patreon.com/MATHR3E/
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Related publications
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.