BTC trend reversal?
Updated
BTC found its top? BTC is printing lower highs and lower lows on the 4hr time frame and even shows something like a double top on the hourly and 15 min.
I have also noted that BTC could (potentially!) form an head and shoulders pattern which would be a bearish sign, but thats not guaranteed though.
This sceneraio could be the same for the BTC domiance chart. (see link below or on my profile)
If we see a bounce above 57 I will remain bullish, if we break below we might see some more consolidation before a new leg up.
NOTES:
CME futures will open Monday morning with a huge gap; we closed on Friday at 57250$ so we might want to fill that gap.
We have also not heard of F2 pool for a while so they might get on it this coming night; Sunday night to Monday morning.
Watch out for short term short and long squeezes, today could be bullish still but I am mostly concerned for Sunday night.
SUPPORT:
Check my chart for crucial support levels and potential reversal areas. Also check my chart linked below with a more creative projection for the coming weeks.
IMPORTANT: this is not financial advice, just my opinion. Trade at your own risk. Good luck!
I have also noted that BTC could (potentially!) form an head and shoulders pattern which would be a bearish sign, but thats not guaranteed though.
This sceneraio could be the same for the BTC domiance chart. (see link below or on my profile)
If we see a bounce above 57 I will remain bullish, if we break below we might see some more consolidation before a new leg up.
NOTES:
CME futures will open Monday morning with a huge gap; we closed on Friday at 57250$ so we might want to fill that gap.
We have also not heard of F2 pool for a while so they might get on it this coming night; Sunday night to Monday morning.
Watch out for short term short and long squeezes, today could be bullish still but I am mostly concerned for Sunday night.
SUPPORT:
Check my chart for crucial support levels and potential reversal areas. Also check my chart linked below with a more creative projection for the coming weeks.
IMPORTANT: this is not financial advice, just my opinion. Trade at your own risk. Good luck!
Note
UPDATE: first target hit, exactly as expected. I expect a downtrend until CME opens, lets see how they react; keep an eye on the CME BTC futures!Note
UPDATE: Head and shoulders complete, back to 48/50K before a new leg up. No this is not the end of the bull market.
Important update on Twitter on 10x Club, a weekly newsletter curated by me containing research & analytics on the crypto market & the amazing opportunities during the bear market - Check my Twitter or website link below:
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