BTC (Y20.P1.E18).Macro.Next Target

Hi All,

> We have seen a nice response from the 8200 support line (=21 EMA on the Weekly).
Why? Traditionally BTC in a up trend would continuously bounce of the 21 Weekly EMA for support, so this just ticked that box.
> On my chart, that equates to point C. Point C also equated to the upper trend line of the macro channel for many people.
> We also had a resistance at point B which equated to the 200 MA on the Daily., another tick in the box, as expected.

> So what does this all mean? Its positive.
It means that we are more likely to continue on an uptrend on the daily with lower highs, higher lows (consolidation) and get a squeeze happening.

> On my chart, I have used fib. channels to help capture pivot points and to my surprise, we are getting the squeeze in the formation of a symmetrical triangle. (red line boundaries)

My thoughts:
*************************************************************
> We might spike up to 9100 but it will be short lived.
Its unlikely that we beak the 9100ish previous high this week but one never knows.
> We will have a pull back to the 8500's or low 8600s, for consolidation and then hopefully we get support to hold this ground, to make another big move as per my chart arrows.
I have initial target of the 9400 to 9500 range but the true target is 10,000 to 10200.
There is also a possibility based on the AB=CD rules, that we can also hit 11050. So I have this pen'd in tentatively as the yellow arrows.
> If we were to go below this critical zone (green rectangle), then 8000 to 8200 will be the next line of support however this will allow the bears to get their way and push us back to possibility the 7700 to 7800 range to be tested.
By movement of time, this will equate to the bottom trend line.
However I'm bullish bias and I don't think this will happen.
> I also noted that BTC dominance has just made a stand with some bullish divergence

How would I trade this?
I will sell a portion of my BTC at this level 8900 and above (looking for signs of weakening or over bought conditions, eg bearish divergence in the 2 hr chart for more.
Thereby using these funds to buy back in using the daily chart with the 10 to 20 EMAs as a entry guide (shaded in green here)
Red being the 20 EMA.
I would look for that strong candle move at the level of consolidation for my entry as well and I would use the Macd to avoid any bearish divergences...I would look for convergence with price action.
This i'm thinking will be my green rectangular zone.

Note I also have a fractural from my past posts that also has another scenario, here. Where we hit the 9400 to 9500 range in this move.

Please don't forget to give me a tick\like, as I would appreciate it.

Regards,
S.Sari /CryptoProspa
(for my reference > Macro.charts)

BTC dominance on the 4 HRLY > bullish divergence

Bình luận:

4 HRLY chart with some momentum indicators for guidance.
RSI is approaching 80%, Macd is still in convergence with price movement.

Bình luận:

I think it hit the mark. sold a portion here. The remainder of must holdings is for going long, above 9500. I'll wait for the pullback.
I have 2 spots, the daily 200 MA as a bounce area and maybe another rally or the 20 MA on the 4 hrly as a trend process.
Note the MACD line and the RSI level. Hence why I sold a portion.

Bình luận:

Bearish div. on the 30 min.
What you see in the ribbon is the 10 and 20 EMA. I expect this pullback to come into the cradle at least, where the 200 Daily MA resides.

Bình luận:

If things move correctly, I have my eyes on the 9000 to 9020 area to jump back in for another potentially rally. If it goes to 8900, not interested. Lets see how this moves next. If I was to enter in the zone, I will have my stop loss tucked under the 8880 area. As long as this trend remains, I will keep trading with the trend.
Note, I am still in the game with my other holdings which I plan to sell, if it gets there in this run around 9400 - 9500 rang
15 Minutes looks good so far.

Bình luận:

Medium level. Do not get caught up with the hype, refer to the likely play in a trade impulse wave. Double top, or new highs based on this ride.
We are in an uptrend but many traders will look to offload and take in profits, where?
Hence why I have my eye on point (C) but I'm also looking for the shorts that can potentially be there.

Bình luận:

Based on the 30 min chart, I did not take this as it dropped more lower than i liked, hence increased risk. I will wait for other opportunities and proceed with the 4 hrly chart and the 2 entry points.

Bình luận:

Bình luận: