Dan_Wang

Dan_Wang Updated 

Haven't update my BTC idea for a while. I think this is a good time for a post to explain my view at current stage. As a investor/trader, you always need a plan for 2 outcomes. Either the price follows your plan or not. As I draw on the chart, in long term I am bullish, thats why my bias towards idea #1 and #2. We have more buy side liquidity above 71900 area...

Dan_Wang Updated 

Note the FVG labeled in the chart, imagine its a big magnet for the price to draw. I think we will see price slowly grinding up and once it reaches to the FVG, it will accelerate the move. Just be prepare and don't let those "pro traders" mess up your mind. I have been there. I am still bullish.

Dan_Wang Updated 

Simillar to 2019, my prediction is that price grinding up towards bearish OB and rejects from there. Retrace all the way back to bullish OB. Bull Run actually starts from late this year. Cheers.

Dan_Wang

ETH/BTC is at critical level, if it holds the FVG and break the previous weekly High, we will see ETH explode upside first and then BTC next.

Dan_Wang

Monthly FVG will be filled before next drop. Not sure if it will consolidates or just drop back to the Feb/April FVG

Dan_Wang

stock market and crypto is correlated most of the time. Now that the momentum is up, we need to keep eye on those previous highs , people love to chase breakout and then price may U turn and caught you off guard lol

Dan_Wang

Lets see if ETH can hold the bullish order block in 4H TF If we keep making higher low, things will look better. Next target will be 1500

Dan_Wang

Big news shake out the crypto market. Created a capitulation event, flush out the week hands and stop loss. ETH price reached the bullish order block on daily time frame. If it dip below it in the next few days or weeks, it invalidated my prediction. Price may wants to go lower more before U turn. We will see.

Dan_Wang

After almost 3 months of down trend channel price action, BTC finally broke up the channel, since the bear channel is relative strong, a V shape recover has low probability, so I think we have 60% of the chance trading sideways or maybe form another force bottom( double bottom) , if we do touch the 60k area, I believe we wont be able to break that huge resistance...

Dan_Wang

Potential trading range throughout the year. if we break either direction, I will trade and invest accordingly. For investor, always buy the dip in support level. For trader, depends on you timeframe, if we in the range, you buy support sell resistance. When we breakout either direction, you should trade with the trend.

Dan_Wang

Heavy resistance around 46918 and we have high probability heading down , then I am looking for a double bottom pattern. If not, we keep consolidating around the resistance, chances go up will be higher. Just need to be patient. we are not at bear market, don't follow the fake gurus and inexperienced traders with their fancy charting and fractal analysis.

Dan_Wang

Most of the time market will make you feel extreme pain before the relief rally. I am waiting for the fakeout at the 39575 to see if we get a bounce or not.

Dan_Wang

Can BTC form a fakeout and higher low double bottom pattern in the next few weeks? If the 42523 level is held and confirms the fakeout, we have a high chance that the price can go up for a moment.

Dan_Wang

ETH is forming a wedge pattern and if price holds and forms a double bottom higher low, it will be a bullish sign. But if it breaks down the support to $3586, and does not manage to come back up quickly, we may expect more downtrend until meeting the next support which is around $2700. Let's see how this play out over the weekend.

Dan_Wang

Wow, how amazing the crypto market sentiment is recent. Last month the sentiment is extremely bullish, now we are in extreme fear mode, that changes so quickly doesn't it? Most of the "gurus" predict the double top patten and bear market theory, I see so many of them in TV, including some reputable gurus has 47 years of experience. Well, let me give you guys...

Dan_Wang

BTC is trying to break out the wedge pattern which is a bullish sign. We need bullish volume and close above 20ema to go for a long position. So far I think BTC will consolidate around here because ETH is leading the way, remember money flows from one to another asset, once ETH settles down, we will see BTC pump. Be patient.

Dan_Wang

Even though the whole market is bearish right now, but we need to be careful about the extreme sentiment. Most of the time we are close to the reversal. One scenario I am looking at is the expanding triangle pattern. If we can print a lower high double bottom. The odds will favor the upside again.

Dan_Wang

Typical higher low major trend reversal pattern. Well, you can also say it is a double bottom ( W ) pattern. Great place to open long trade.