Bitcoin / TetherUSShort
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:
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.