For me it's clear since a week ago. Typical BTC consolidation, alts run,.
Technical this is healty. Building and re-accumulation before gaining momentum for 100k order blocks.
Ethereum is also building slow but steady, also ETH/BTC is finaly showing some promessing higher lows.
Big boys are still accumulating and holding back the real ETH impuls. Soon we will...
When doubt zoom out. Well..
Trade safe!
Invest wise!
Buy the pain.
And zoom out!
Each 'FINAL PUSH' we have seen in the past weeks gave us an avarage drop of 14,17%.
Bears are still pushing and a nice test of previous price range would be an excellent opportunity and healty for Bitcoin and my wallet :)
When we zoom out:
* we see some nice monthly ...
Weekly candle is gaining a major point!
If we can hold this one (above 57.500 level) Than we have a serious gain in the pocket.
Question is do we go for the push to 65k and up? and retrace and play the pull back on 58.5-60k area?
Ore will we have one last change at 52k? That would be great wouldn't it?
My position is long, small add on was made on 55k...
When I'm looking for a small scalp sometimes an inverted chart does the trick!
This one is looking perfect for a short.
Big trend is still up... but smaller time frame is looking bearish.
First tp 57k
Looking for longs around 55k-56k zone.
Have a nice one y'all!
Imo we need to hold the important red candle. If we have a dayly close under this candle we might see a backtest from the previous all time high around 23k - 20k zone.
We also tested it very nice. And regaind 34k zone.
For now this is a twilight zone.
No trade zone. (on bigger time frame)
What's your opion?
Kind Regards
Arne.
#priceaction #supportresistance
Just saying:
No prediction:
Just comparison with the @Bitstamp chart of BTC back in 2013. If this Bitcoin chart plays out today in the same order/style he was doing previous in 2013. Than we should have a serious backtest right now or in the few week(s) depending on how you look (which would be healty for bitcoin btw) en after then. The most loco number murder...
