How does this chart make you feel? For 12 years or more BTC has held this green channel as support. now with 2 monthly closes below an area we previously have only ever wicked below, all I can see now is this channel becoming resistance. so many are expecting a massive bull run in the near future I just don't see it. to think a 12 year support flipped resistance...
BTC Short. so many people are bullish after this little rally, I just don't see it or rather I wont change my bias until we break this down trend line and retest it as support to the upside. who is longing into resistance here? not me...
This is my current play on btc, I am short here until rejection off buy zone or stopped out. (hopefully we dump straight past my buy zone) we are currently rejecting on Daily supply lets see if it holds
1 hour short position entered. I will watch the trade for TP zone as we are currently rejecting off of 1 day supply zone. may see the bottom of the range again around 19.5k
Ladies and Gents . BTC is playing out as expected. (previous chart linked) -There are signs btc may be near bottom. 210 MA as support on weekly, rsi never been this oversold on weekly. That historical data doesn't say much with the current economic environment so i am expecting some new movement, this is the 1st time btc has revisited a previous ATH in a bear...
ladies and gents, BTC looking right on track to revisit 19k previous highs, I believe a strong move down could easily go to 10k- 13k. for now im on the sideline patience is key.
on monthly price action is below 13 & 21 moving average. the 50 moving average has been a long term support for continued bull run all the way since 2015. it seems Highly likely to revisit it, currently that is at 26k. I have marked significant levels in white 19k & 13k a strong wick down could go that deep.
Ladies and Gents, Currently On weekly view we have had death cross of 13 & 21 MA crossing 50 MA. previously this has led to 50%+ drops in price. that takes us to 19k previous high. it makes sense we would revisit this level or a bit below before a strong move up. Trade with caution if you choose to.
If this is the completion of the 5th wave I would expect an ABC correction before moving higher. I have bids buying back in in the low $10 range.
Cos/usdt recently broke out of its ascending triangle on 5 day chart with huge volume its currently retesting structure, My Buys are in green with Targets in blue.
Badger/usdt this is what i am targeting for the next upside target $72-$75 range.
BTC is in a strong bullish channel with clear momentum from the bottom of the channel. fib support below for any further shot term bearish structure. Ultimately I see this pushing to 135k by end of year.