Dear btc this path doesn't lead to 28k :) I see another pull back to 24k (if not I'll embark this trend in the middle) and then a slow decline to the buy zone . Looks like bitcoin wasn't done accumulating before this recent movement.
As many are trading the big upward channel in the daily time frame, I anticipate market makers will exploit the liquidity in that area. Pushing the price down and then buying back, shaping a mini bull run.
I see a trade set up and I trade it. Reversal taking place right now.
DOT is performing a lot better than other alts! even better than ETH! ETH's dump could be related to DeFI as well but this strength shown in DOT/BTC call for a strong pull back . easy 30-40%
panic sell has taken over the whole market. the 700-800 area should be strongest reversal level.
as it broke through my first two areas we can tell the panic sell was very high. there'll be a 10 -20% correction from this area
SPX looks like it's loosing it's momentum. LL and LHs don't demonstrate a pivot for me they just call for a bear market ahead!
technically speaking the next leg for the so many times tested level will be followed by a retest of that lower high and then continuation.
this stop hunt increased the chance for a pull back - a higher low (around the lowest shadow) would also be possible. If we continue this down trend this area(28k) would be a higher low afterwards
financial markets are not feeling well. Investors know about quantitative tightening and they EXPECT feds decisions to affect financial markets. so the fact that everybody is expecting something can cause that to happen or is it...
Two basic scenarios for Bitcoin 1) red flag could be a retracement for the bearish pattern 2) green channel could be our long term bullish pattern