Bitcoin - when is the outcome, what to expect?
Updated
Hello dear friends,
At this time, we have opened one long position from 22750 - the first target has been reached, stop loss at breakeven.
As for the analysis, you can see how a local symmetric triangle is formed at the top of the trend at 4 hours.
I wrote about this to you in my previous, trading idea.
For many, this is a descending triangle, as well as a trend reversal.
(down trend)
Same,
It can be seen that a large volume was sold almost at the peak of the movement. Especially if you enable a small timeframe for confirmation (1 minute)
At the moment, the trading volume is minimal. Everyone is waiting for a denouement. As I wrote, the distribution or accumulation zone and the price is stuck in this range. I will refrain from positions for now. But I will give a small recommendation:
The breakdown of the price level - 22300 and trading above this level for at least 2 hours, tells us that the price will be led at the renewal of the top, as well as to the New targets of the CME
You can see in this idea:
"Bitcoin at 25,000 - 27,000? What's next and where is correction?"
The breakdown of the price level - 22300 and trading above this level for at least 2 hours, tells us that the price will be led at the renewal of the top, as well as to the New targets of the CME.
If the price is below the level of 22450 and trading takes place on the pulse and fixes there, then we are led to the following targets:
22000-21680-21120-20200.
But, there is one but!
The "order book" is getting stronger. The goal of the triangle in case of its breaking up the zone of 25 thousand. At 23800 there is a large "fence" only if it is removed the way at 25 opens. If this triangle acts as a canvas of an ascending pennant, then the target with a breakdown is the 28 thousand zone (an unlikely scenario, but it should not be ruled out, as few people believe in it).
Also, about the price to the bottom - for a start there is a zone of 22 thousand. Big block for purchase. In the zone of 20 thousand at the moment there are huge walls that are unlikely to give the price the first time to drop in case of force majeure. And for all traders who do not trade for a long time, Do not forget that whoever does not understand a major market participant will work according to their plan, and always lose, since this plan is flexible from the situation that develops. Remember, the "order book" always draws a chart, and not vice versa. Small market participants are convinced of the opposite.
For me, like a few days ago, this growth is something strange!
At this time, we have opened one long position from 22750 - the first target has been reached, stop loss at breakeven.
As for the analysis, you can see how a local symmetric triangle is formed at the top of the trend at 4 hours.
I wrote about this to you in my previous, trading idea.
For many, this is a descending triangle, as well as a trend reversal.
(down trend)
Same,
It can be seen that a large volume was sold almost at the peak of the movement. Especially if you enable a small timeframe for confirmation (1 minute)
At the moment, the trading volume is minimal. Everyone is waiting for a denouement. As I wrote, the distribution or accumulation zone and the price is stuck in this range. I will refrain from positions for now. But I will give a small recommendation:
The breakdown of the price level - 22300 and trading above this level for at least 2 hours, tells us that the price will be led at the renewal of the top, as well as to the New targets of the CME
You can see in this idea:
"Bitcoin at 25,000 - 27,000? What's next and where is correction?"
The breakdown of the price level - 22300 and trading above this level for at least 2 hours, tells us that the price will be led at the renewal of the top, as well as to the New targets of the CME.
If the price is below the level of 22450 and trading takes place on the pulse and fixes there, then we are led to the following targets:
22000-21680-21120-20200.
But, there is one but!
The "order book" is getting stronger. The goal of the triangle in case of its breaking up the zone of 25 thousand. At 23800 there is a large "fence" only if it is removed the way at 25 opens. If this triangle acts as a canvas of an ascending pennant, then the target with a breakdown is the 28 thousand zone (an unlikely scenario, but it should not be ruled out, as few people believe in it).
Also, about the price to the bottom - for a start there is a zone of 22 thousand. Big block for purchase. In the zone of 20 thousand at the moment there are huge walls that are unlikely to give the price the first time to drop in case of force majeure. And for all traders who do not trade for a long time, Do not forget that whoever does not understand a major market participant will work according to their plan, and always lose, since this plan is flexible from the situation that develops. Remember, the "order book" always draws a chart, and not vice versa. Small market participants are convinced of the opposite.
For me, like a few days ago, this growth is something strange!
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