JUST TO MAKE MYSELF CLEAR - I work for a high frequency trading company and from the indicators and formulas we utilize, there is still a 93% chance of BTC hitting 4.4k. It's just a matter of time.
Most indicators were suggesting the 13th range but after the news for war they are going back and forth but the end result is the same.
The chart above is just one of the many indicators. If you look at the chart, there is a long term started in 2015. And if you plot the fib retracement to where the long term starts and the All Time High, you can see that BTC has now surpassed below the 0.618 retrace @ 7700, meaning - that support has already been broken. The next support WILL be 4.4k!
Too many shorts got squeeze out, I think it will happen again. We might be retesting the top of the downtrend channel.
First -->Chart of stoch and rsi D 4H 3H 2H 1H are overbought completly overbought like i and you have never seen in history of btc ! open a chart just watch by yourself before repeat sheep movement and say up up up ! please do it is better to see by yourself !
Second --> Open coinmarketcap watch the difference between the rise in $ and in BTC and you will see not so much gain in BTC compared to $ ...so retracement is completly possible , watch by yourself and you will see what expert, not sheep moving followers are talking about ,a retracement will be .
Third-->if 1D 4H 3H 2H 1H are completly overbought but we are going up Why ? ->we broke a triangle (was massive brutal heavy !!!...wonderfull) butwe didn't broke the general trend line to go in bullish zone so this is the confirmation we are not going to moon now---->that was not an explanation !!! LOL i do like the other trader ...
The true explanation is week stoch chart is not overbought but not oversold at all so the thing is we can't continue and cross the general trend line to go in bullish zone because this week chart will be completly overbought jut at the crucial point...so down huge dip before or now maybe i don't have cristal ball !
MOST IMPORTANT PART ---> Not spreading FUD spreading true knowledge.... I continue the week chart is on low level not oversold at all but not overbought SO The thing is this stoch and rsi chart overbought 1D 4H 3H 2H 1H must go to the oversold zone because all is out of normal...(manipulation of market why huge pump, broke the first triangle ok but why in a matter of minutes because whales hedge fund etc...!) so this chart oversold they can't stay up for years everybody is ok with that ---->just to finish the week stoch chart--> this is completly impossible never happen in history of trading and finance because the line of stoch will be 1 meter straight so---> lol believe this is the true breakout it's your view ! the chart indicator don't lie never and ever , the huge pump in a matter of minutes as well !
You want scalp do it at your own risk but at each moment a big dip could happen and will happen, indicator top, chart analysis , whales strategy , past movement, and indicator understanding .
Didn't put ratio and math too early .
Just explain why we will not breaking out the major triangle, This is not an hypothesis this is the futur move ;
Have a nice day and good luck with all of your trades !