What's next BTC?
Updated
SHORT TERM ANALYSIS
If current 4hrly closes here it'll be a bullish spinning top.
If it closes higher, it'll be a bull hammer.
If it closes below 3910, SHORT is still ON.
3 hours from now.
A lot can happen in 3 hours.
Perfect LONG entry here would be 3780 to 3640
I'll close my complete SHORT around 3900 and seek a tiny LONG entry around 3910.
LONG TERM ANALYSIS
The chart is simple to understand.
Confirmed Long to mid 5ks would be if we break 4.4k.
Break top of red symmetrical triangle - We go up to 4.4k
Break bottom of red symmetrical triangle - We go to 36-3500 range and most probably go down to 2900 range
Break pink channel's bottom, we go to 37-3500 range
Blue lines are some trendlines that could provide resistance. Time will tell.
Closing below 3430 - Going to test 2900
If current 4hrly closes here it'll be a bullish spinning top.
If it closes higher, it'll be a bull hammer.
If it closes below 3910, SHORT is still ON.
3 hours from now.
A lot can happen in 3 hours.
Perfect LONG entry here would be 3780 to 3640
I'll close my complete SHORT around 3900 and seek a tiny LONG entry around 3910.
LONG TERM ANALYSIS
The chart is simple to understand.
Confirmed Long to mid 5ks would be if we break 4.4k.
Break top of red symmetrical triangle - We go up to 4.4k
Break bottom of red symmetrical triangle - We go to 36-3500 range and most probably go down to 2900 range
Break pink channel's bottom, we go to 37-3500 range
Blue lines are some trendlines that could provide resistance. Time will tell.
Closing below 3430 - Going to test 2900
Note
The Bullish Divergence I shared in my previous charts.It still exists on the 4hrly.
I think it'll come down to test the uptrending support line before making a big move up.
Note
Too much sideways if compared with last 3 weeks of crazy movement. Low liquidity weekend is here.
Bear Flag
Bear Pennant
Descending Triangle
Fomo 1hr/2hr/4hr is Red
HTL is red
Everything is pointing to a down
Target would be 3820 to 3750.
If we don't break down by Monday/Tuesday, BTC could do it's infamous Inverse Bart Head and make a quick spike up.
So, be careful and run a stop loss.
Trade active
If you zoom into my chart above, you'll see that we are sitting right on top of the symmetrical triangle I first shared.I'll look for a LONG entry between 4110 and 4130.
Cheers
Note
That RSI is getting there on 4hr
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