If this local potential bear flag plays out exactly to the dollar on a resistance that is a directly on a trend line, a daily S/R level and some fib levels with market cipher b showing 1 hour divs and lower timeframes showing clear bullish divs as price hits the level it could make for a nice trade as XRP clearly likes to drop quickly and come back up.
Contrary to my other post price could just come up to the top of the range into the resistance of a 0.886 fib level a monthly s/r and a naked daily point of control. If this can happen with mid timeframes showing momentum divs and money flow continues down price is likely to come back into the value area and down to the low of the range where it could either once...
If the bitcoin price can retrace down to the golden pocket that is sitting just outside of the value area low of the range and market cipher is showing some mid time frame (20-30min) momentum divergence' with lower timeframes showing money flow coming up toward the 0 line and momentum divergence, then it it likely to bounce back into the value area making it more...
If price does reject from this resistance (Hopefully it doesn't) and come back into the macro value area price could hit the golden pocket retracement of that move up which has a lot of confluence such as an old and very respected weekly s/r a naked daily point of control and a daily s/r. If price can bounce from that area with market cipher printing a trigger...
basic macro market structure swing trade. Two daily s/r levels as well as a weekly s/r and a major s/r flip on BTC. If this is how it plays out is could be a very profitable Q1
As price comes to these levels I would look for either a divergence on the 1 hour or just a trigger wave with the lower time frames showing clear divergences with money flow going in the direction of each trade and the vwap curving towards the 0 line also in the direction of each trade
BTC 4h is pointing towards a move higher here, Cipher B is showing all indicators are moving higher and a bullish trigger wave has formed here giving us a signal for a potential push higher. We need to close a 4h candle above key 4h resistance for us to make a move towards the top of the pattern.
BTC 4h looking like we could print another trigger wave on cipher B and see some more short term upside, potentially even break the previous high which would be the ideal scenario, but I am still leaning more towards a bearish scenario where we come to retest the bullish daily OB. Money flow is still in the green and we are sitting on on 4h support, we could hold...
Cipher B showing string signs of good things to come, Overall market momentum is leaning heavily towards the upside as of now. Money flow looks like it's ready to cross over into the green on the daily which is a very strong sign of some positive price action to come.
BTC is over stretched and all the indicators are telling us we are headed lower, Daily signals are strong, I am looking for entries between 37 -40k OB's will be key Zones to look for a reversal. Cipher B is showing us a setup is close for a very nice Swing long if we get a bullish trigger wave below the zero line. Currently printing a sell Dot, if confirmed we...