btc short term scenario
Updated
for the continuation of the rally on macro level, so the daily and weekly, we have formed a higher low, althus the higher low isnt confirmed yet, we are on the break of an descending wedge on the 4hr. this coudl coincide by the continuation of the rally so we have green months ahead. if you look how many often btc is bought up by the 40k level. i dont think we go lower. if we go lower, maybe test the 37k region. but i think that out of the cards this time.
i know its not the most beautiful descending wedge but last days have been very choppy. if we look at the alts i dont see weakness on ethereum. so wat do we want to see here. if we break out of this wedge, it has to be with volume. so a change of trend and a breakout wit long green candles. if this doesnt happen. the wedge could become invalid.
so it think we have three scenarios.
- the red one, we break out in an hour or few hours, i think this is the most likely scenario
- the yellow one, we come down to test 37k and than go up, i think this is a probabilty but not the most likely, otherwise we would come down last night but the 40k level was bought up again
- the third scenario, this is the begin of the bearmarket and we go much lower
if you like my idea, please give a thumbs up. because thats my only way to become world famous. ;p
i know its not the most beautiful descending wedge but last days have been very choppy. if we look at the alts i dont see weakness on ethereum. so wat do we want to see here. if we break out of this wedge, it has to be with volume. so a change of trend and a breakout wit long green candles. if this doesnt happen. the wedge could become invalid.
so it think we have three scenarios.
- the red one, we break out in an hour or few hours, i think this is the most likely scenario
- the yellow one, we come down to test 37k and than go up, i think this is a probabilty but not the most likely, otherwise we would come down last night but the 40k level was bought up again
- the third scenario, this is the begin of the bearmarket and we go much lower
if you like my idea, please give a thumbs up. because thats my only way to become world famous. ;p
Trade active
as you can see it followed the red line perfectly. so i tink we are very bullishTrade closed: target reached
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