Bitcoin's High Time Frame "War" for Price Territory
Hello again, fellow traders!
So, another quick look at Bitcoin's battleground (as explained in this educational idea), but now using a higher, 1D time frame.
Pretty clear what's happening here. And we're most likely going to test, and enter, the red zone - House of the bears. Then, hopefully, the last battle prior next major bull run will begin. I can't expect it to be easy, though.
Possibly, we'll se a rejection, an Initial double top scenario around 13.8k. Maybe it will open the case for a cup and handle pattern to emerge / get confirmed. Let's see.
To conclude, speaking a bit about the past: please compare this HTF chart w/ the LTF one (on the educational idea) and you'll probably realize that BTC coming to test Bull's house lows (3.5k, March 20) was something completely inside the realm of possibilities, after being rejected at bears' house doorsteps, in June 19. Cool, isn't it?
Hope you like it and that it helps you on your trading journey.
Cheers!
PHInkTrade
So, another quick look at Bitcoin's battleground (as explained in this educational idea), but now using a higher, 1D time frame.
Pretty clear what's happening here. And we're most likely going to test, and enter, the red zone - House of the bears. Then, hopefully, the last battle prior next major bull run will begin. I can't expect it to be easy, though.
Possibly, we'll se a rejection, an Initial double top scenario around 13.8k. Maybe it will open the case for a cup and handle pattern to emerge / get confirmed. Let's see.
To conclude, speaking a bit about the past: please compare this HTF chart w/ the LTF one (on the educational idea) and you'll probably realize that BTC coming to test Bull's house lows (3.5k, March 20) was something completely inside the realm of possibilities, after being rejected at bears' house doorsteps, in June 19. Cool, isn't it?
Hope you like it and that it helps you on your trading journey.
Cheers!
PHInkTrade
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Telegram Channel: bit.ly/phinktrade_tc
Twitter: bit.ly/phinktrade_tw
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