Magnet
potential weekly long swingto coming monthly pivot. it would make sense to test this first and reject for a clear road to a retracement in the low 20k area (yearly pivot untested. )
if short from higher keep it or defended profit. if attempting long here beware of this 4hour death cross and use stoploss lower than L4
bitcoin. 25k? 20.5k? 1,2,3 day peakFirst chart. yearly pivot levels (untested central) last 7 years got tested in Q1
Oscillation of multiple kinds. Candle counts. _ yeah looks like it could happen
second chart. Volume. Flow. On balance. Divergence. Spread theory on currently positions. Profiles. - also looks possible.
third chart. EMA and moving averages. - looks like they are turning down to me.
Overall. I see zero reason to fomo into anything with the current charts and activity in these timeframes performing like this. Good luck if you want to though. I will wait for momentum or better prices
Why I think 25k and 20k is not unrealistic for BTC / Bitcoin25k and 20.5k are the Untested Monthly and Yearly Pivots (purple lines). Which will have magnetic properties if not met with healthy correction. I will go into details on the other pivots
On the charts I have camarilla pivots. Which take previous time frame price action and projects the target range and breakout levels for the new time frame. L3-H3 is projected range. H4/L4 are stoploss/breakout levels. H5/L5 are breakout targets. The general strategy via intraday is to short H3 rejection or loss or Long L3 for other side of the range. Or play the breakout to 5 if the 4 is broken. These have daily / weekly / monthly / and on this chart I will show the yearly levels.
There is much talk of the big money buying and stuff. yet the top of the last year was projected by algos to the dollar on the Yearly H5... 365 days prior. during covid scare even. My point in mentioning this is that there seem to be some algo habits that correlate with a history of price action in the market even on these macro levels.
The purple line. Is the central pivot. It acts as a magnet until tested. and once it is tested it pushes price away like a magnet flipped. It is the buy the dip or sell the rip location. On the monthly levels you will find price action comes to the new monthly pivot nearly every month. And surprisingly the yearly Pivot the last 7 years (probably every year)
The way it looks now on the yearly levels would be an H3 to L3 range reversal to the Otherside (L3 and Pivot) AS LONG as the yearly H3 and H4 remain rejected. IF you are bullish. Be careful of price losing the monthly H3 at 32200. On the weekly levels, the current Pivot is being rejected so far around 36000(about the same as the monthly H4 breakout level). That is the next resistance. However, then would need to break the Yearly H3/4 to actually achieve new highs.
Based on the history of algos and price action reversion to the mean Pivot when it gets ahead of itself I would be hard-pressed to believe we do not test the monthly Pivot 25k (for the first time in a couple years) nor the yearly pivot (for the first time perhaps ever.
BITCOIN IS GOING TO 14k with yearly close.I did the calculations. The developing yearly Pivot for bitcoin is now 14.4k. even if we closed year at 22k. the pivot would still be down at 15k. Now I have circled the last 5 out of 6 years where bitcoin open away from its new yearly pivot. It can be seen that price was magnet pulled to the pivot. and usually early on as well. This is something that happens with every monthly weekly and daily close on most assets across all markets with closures ad untested pivots and it is baked into the very algos of the markets. I think It will be inevitable unless we pump up 10k high by yearly close. then maybe we could retrace to where we are now
short scalp setup for btc with tight stoplogic is the coming weekly pivot gets tested as it always does. the chart is currently showing daily levels. Loss of H3 would confirm entry more safely as the price could still work itself higher before weekly retrace as the day isn't over and the next pivots are not YET confirmed. however, TD9 sell setup on the 4 hours is completing... so it is a reasonable place to think it happens from. H4 would generally be the stop area