Here is a very nice insight by which I agreed with my WZRD friend. I share it if you guys have some insight and get something from it.
Eyes on Bitcoin:
Today marks a whale wash out, with panic comes volatility and long wicks.
We need clarity and bias, for which the market will give with upcoming price action.
As of now, we can see Bitcoin still remains ranging in its Intraday, within a channel. A breakout either side will lead to a trade as the intraday chart shows.
⚠️ What’s more important right now is the daily chart, which is trading as slightly bearish from a WZRD Resistance acting as a range high. A bearish rejection will result in a pullback as the Red Dotted WZRD Projection shows, towards $18,000 which would be totally healthy.
🔑 A special focus should be on S&P, which is rejecting its year long + trendline that I gave you before it had even formed. It is still maintaining this trendline, and the WZRD Support at 3915 would need to hold for bulls to gather more strength to break, if it loses 3915, Bitcoin will have the fuel for $18,000 📝
Eyes on Bitcoin:
Today marks a whale wash out, with panic comes volatility and long wicks.
We need clarity and bias, for which the market will give with upcoming price action.
As of now, we can see Bitcoin still remains ranging in its Intraday, within a channel. A breakout either side will lead to a trade as the intraday chart shows.
⚠️ What’s more important right now is the daily chart, which is trading as slightly bearish from a WZRD Resistance acting as a range high. A bearish rejection will result in a pullback as the Red Dotted WZRD Projection shows, towards $18,000 which would be totally healthy.
🔑 A special focus should be on S&P, which is rejecting its year long + trendline that I gave you before it had even formed. It is still maintaining this trendline, and the WZRD Support at 3915 would need to hold for bulls to gather more strength to break, if it loses 3915, Bitcoin will have the fuel for $18,000 📝
