btc usd perpetual PHEMEX MARCH 5-6

6 thg 3, 2021

-On 4 hour ichimoku cloud we see a green cloud with a fox heads shape.

-One of my fib extension zones match the size of the snout

HOWEVER

-After that we have printed some red cloud on the 4 hour

-On this chart when we look at the 3 hour cloud we see the red cloud matching the size of the same fib extension zone and even more red cloud being printed

-What does this tell us? Possibly that the red cloud will continue to form due to that zone on the fib extension showing stronger confluence towards resistance

-Possible head and shoulders forming to perpetuate the idea of this zone of confluence being a resistance not a zone of support

-Blue conversion line is crossing the price action to the upside indicating bearishness

-If I were to look for a long entry it would have to break my fib extension level of 52.8k

UPDATE

-Currently if we look back at the 3 hour chart... the red cloud prints and we see a suspicious shape carved into the bottom of this new printed cloud ahead of the price action. What is this predicting?

-Many are talking about the previous INVERSE HEAD & SHOULDERS that was printed and clearly visible on the 3 & 4 hour time frame... IMO this price action structure in addition to analysis of the ichimoku on different time frames is telling me we are running into a resistance and not being brought up to a zone of confluence that some people who are bullish would look at as a new zone of support

THIS IS NOT FINANCIAL ADVICE

to be continued...

6 thg 3, 2021

Ghi chú

AFTER THE UPDATE I WROTE.... THE SHAPE WE SEE IN THE CARVING OF THE CLOUD HAPPENS ON 4 HOUR TIME FRAME IN THE RED CLOUD BEING PRINTED....WHAT IS THIS PREDICTING?!