Called move after move for Bitcoin, what happens next?
If you been lucky enough to work out my analysis and pull the trigger on the trade setups that played out over and over again, I commend you for your knowledge of how to read an analysis and then use it to make an informed decision.
If you caught the last analysis I mentioned about a bear trap spike below the blue line and as you can see it played out. You can see I have removed the green trendline on left chart as it is now done with and the green trendline on the right hand side chart is basically invalidated now.
We see on the left chart the orange trendline is respected with the candle closing above it. The white major trendline also held as major support. You can see the other trendlines still being used, especially on 4 hour timeframe.
So, what now?
We need to watch for the right hand side RSI to breakdown under the red trendline for BTC to get to 108k.
On the left chart the RSI needs to break back above trendline. In regards to the price action, we can see a massive buy up in the crash candle that was just made. Price could move up to 108k from here now there are trapped short traders below. This would put the right USDT.D chart at the blue trendline and as per previous analysis we know what happens if that then breaks below this line.
On the bearish side, if price loses the light green vwap line then expect another retest of the white trendline.
Smash the like button and good luck!
