PA isn't favourable for bulls at all. A very good chart I should have paid more attention to is the weekly. Daily TF also has 7 consecutive red candles and the last time that happened, price broke the 6k floor. Would be bold to say price breaks the $9123 support within 11 days. Bakkt launch to me is a 'sell the news' event. If after 11 days, support isn't broken...
Zooming out, $BTC has established a trading range over the last month. Every trading range is bound to have a breakout sometime and looks like it's in last stage: Wyckoff's spring/LPS as supply is gradually running out of steam. Targets: 11600, 12300.
Having a falling wedge within forming within several months is a rare thing to see on any chart. This chart is just beautiful and I expect the falling wedge to be broken upwards toward targets highlighted in chart in months. I have taken a position in this and would be very patient in the next few months.
Current outlook is still bearish until bulls show some real signs of life(most likely at support around 162USD. I wouldn't be buying until price gets to that region. Using Bitmex's chart only cause Bybit's only goes as far as early this year. I only margin=trade on Bybit now and if you wish to make the switch for less slippages and to avoid system overloads, you...
Price looks to be in a symmetrical trIangle. Defined risk with stop loss below wave C. Looks like price is in wave D. Will update as price progresses. Kindly like if you love this idea.
