Called move after move for Bitcoin, what happens next?

If you been lucky enough to work out my analysis and pull the trigger on the trade setups that played out over and over again, I commend you for your knowledge of how to read an analysis and then use it to make an informed decision.

If you caught the last analysis I mentioned about a bear trap spike below the blue line and as you can see it played out. You can see I have removed the green trendline on left chart as it is now done with and the green trendline on the right hand side chart is basically invalidated now.

We see on the left chart the orange trendline is respected with the candle closing above it. The white major trendline also held as major support. You can see the other trendlines still being used, especially on 4 hour timeframe.

So, what now?

We need to watch for the right hand side RSI to breakdown under the red trendline for BTC to get to 108k.

On the left chart the RSI needs to break back above trendline. In regards to the price action, we can see a massive buy up in the crash candle that was just made. Price could move up to 108k from here now there are trapped short traders below. This would put the right USDT.D chart at the blue trendline and as per previous analysis we know what happens if that then breaks below this line.
On the bearish side, if price loses the light green vwap line then expect another retest of the white trendline.

Smash the like button and good luck!

Note

Price has gone back to retest orange trendline support. I will be patient and wait for the white trendline to be retested to enter a long.
However, if price goes up and reclaims the green vwap line I will go long with target of 108k.

Note

Price still under the green vwap line but holding trendlines as shown. Price could rally up from here but as before, need to see above vwap line to see any signs of bullish momentum.

On the bearish side, price should retest the blue and white trendlines with a wick down to the purple line below. This is where the bull run would restart. If we close candles below these levels, 77k is in play and end of bull run.

Note

Price touched the white line and I went long as mentioned.
Now we wait to see if BTC can break above this resistance it gets denied at over and over again.

I am looking at my special chart (not shown publically) I use to see into the future and waiting for the 5 day RSI to trigger a parabolic signal if it touches 60 on the RSI. This is when the bull run will resume and altseason will start.

Note

If you were smart you would of seen the rejection at the resistance levels on my chart and got out of the long and gone short.
As mentioned if things went bearish I said price would go down to the purple line and well here we are.
What is a concern is the white 4 year support trendline is now broken as well as the orange trendline and the blue support line also.
Will BTC now reclaim these levels or will it reject from one of them and move down to close the CME gap at 77k as shown on cme chart attached.

BTC could go up to test white line then reject to 77k and enter bear market or form a massive whipsaw move at that level.
For any hope of a bullish reversal we need to see BTC reclaim the levels it lost.

Note

CME gap will get closed and if BTC can reclaim the green thin vwap line from previous major low, we can consider at least a bounce and maybe resume bull run.
Yellow horizontal line is the target for the confirmed double top pattern. This is also a concern as these appear at top of markets. Purple horizontal line is possible and any candle going under that level is trouble.

Note

1 gap filled while another huge gap formed on BTC, gap at 77k area was frontrun and was not closed properly.
Be wary of the pump with this large gap now formed.

Note

I spoke about a whipsaw move. I spoke about price reclaiming vwap line which has now happened. BTC is now testing the white trendline. A rejection here could push price back down to close recent gap that was formed.
If price can get above and confirm white line as support again, the bull run should resume. A close above top green vwap line is very bullish.

Note

BTC rejected the white line. If you follow this chart you would of seen support at green vwap below and gone long off the reaction to this level after shorting the rejection from the white line.
BTC has now tested the blue line and reclaimed the orange trendline. If it can remain above this it should get to the vwap line above. If it drops back below than 77.5k is in play.

Bitcoin price must get back to 100k within 5-10 days. If it drops to 74k this will fire off multiple alerts I have on my charts that shout out crash or bear market. I cannot ignore mutiple alerts. Just the 1 so far that has stated bear market is coming. If another 2 or 3 fire off alerts stating similar I will say it is confirmed.

Pro_Trader_HTBB

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