pnaik732

pnaik732

Still neutral-bullish, but this is it right here.... losing needs to stop soon or at worst at the repair line If the repair line breaks --- other than a spike-through, it is not good at all. At least the Demark counts look promising on the 4h Good luck traders

pnaik732 Updated 

At the last line on my chart as you can see.... If this breaks, it's go time otherwise, more consolidation

pnaik732

The range is really narrowing now. Set up for a big move? We'll know soon as BTCUSD is squeezed between the New Repair line and the Defense Zone 43.4k didn't happen, but neither did a break down. So we wait for direction.

pnaik732

neutral-bullish as 42k holds and the main crypto trendline squeezes downside risk to defense zone where there is support for another run at the trendline if 42k doesn't hold now

pnaik732

It really is *the* most important line now. Look at the reactions. It might go down, it might go up, but the battle is here. Great rejection just now on the 4 hour. Let's see if bulls can win the week

pnaik732

still bullish-neutral Great action, re-test 42k and back through the second most important trendline in crypto Long from here to 44.5k bulls need to take control there to keep going, otherwise expect more chop (which can mean some nice trade opportunities)

pnaik732

for Bulls: Resumption up off of the Second Most Important Trend Line In Crypto and a break above the New Repair line for Bulls who want to buy: bear trap dip back toward the Defense Zone Bears have been having their ideal scenario for weeks :-P

pnaik732 Updated 

Neutral-bullish now. Looks really good for a trip to 45.3k ... then we'll see. Bullish above.

pnaik732 Updated 

Looking promising and more bullish now for a short term recovery. Still several lines of resistance above to clear for a long-term recovery, and a chance this is a false break above the major down trend line. The "New Repair Line" would be a take profit point for those who are trading, but must get past this intermediate trend line above the major down trend line first

pnaik732

Reaction off of the "Defense zone" is very positive. Dragonfly Doji on the Daily, and Demark 9 count so far on the Weekly. BTCUSD surely oversold. However to get a full good news stack, BTCUSD needs to recover the "New Repair" line. Bulls might like to scale in on a clear break above the "Second Most Important Trendline in Crypto" Aggressive bulls are surely...

pnaik732 Updated 

Well this is it. Bitcoin defended at the bottom of the Defense zone as expected. Now three possibilities: 1) Consolidate and bounce 2) Bear trap wick (on longer time scales) into the 37-39k region 3) Trouble I think it is option 1 or 2. 3 only makes sense if all markets are crashing, but so far they are just correcting So this is not financial advice but I am...

pnaik732 Updated 

At the defense zone now. BTCUSD trying to avoid a lower low. Still bullish-neutral here but barely, the repair line should not stay broken much longer on the daily timescale.... but fear gauge near the level it was at at the most recent previous lows, orders are stacked just below 40k, etc... anyway, the line must be drawn here so stacking some sats, though...

pnaik732 Updated 

Switching to neutral-bullish bias. Still waiting for more confirmation of the repair line breakdown to go full neutral. Short term hard to predict but if you liked BTCUSD above 42k you have to like it better now. Bull case not over, but other than for a retest the 37k to 42k region is less inspiring.

pnaik732 Updated 

Going to test the second most important trend line in crypto. If you are a bull this is the flush out of the weak hands. If you are a bear then you want this massive diagonal support to break. Still a bull as long as the line is defended

pnaik732 Updated 

Failed the uptrend channel, but still doing OK. Expecting a bounce at the repair line.

pnaik732 Updated 

Watch for a meaningful resumption, but the retest has clearly been made on the strongest support in the area

pnaik732 Updated 

rejected on first attempt to get back into the up channel. Not bad news, but might take a little longer to go up to test bigger resistance. Possibility of testing support first.

pnaik732 Updated 

Been waiting for this for a while. Long, pending either a strong breakout, or a retest of the repair line and a resumption. Always the possibility of a fake out, but at the moment this looks like a nice move above the line.