BTC.USDT (Y20.P6.E19).Things to observe
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Hi All,
Just going to make this short and point out what is on the chart.
OBSERVATION:
- The 8 HRLY 10/20 ema was our upward trend and as you can see, it still is.
- The price reversal or rejection was at a key fib level on the macro of 1.414 extension, chart below
- The RSI is not of any use as it will state overbought or bearish divergence took place, and you can't argue with it.
- The key point is the support level - price has fallen into this channel and a bounce so far on the 0.382 retracement of this impulse wave.
- The wicks at the 37200 tells us its a strong support level. IF this doesn't hold, then its a bearish sign for a deeper pullback (15 to 20%).
I'm expecting a bounce here.
- MACD on the 8 hrly chart and the price action so far is giving us a cradle setup, if it holds, meaning a bullish setup.
THOUGHTS:
- Is this the reversal or correction we were to have?
- I'm looking for evidence to tell me this is a 30% correction but so far, nothing. It hasn't broken the very important trend line, chart below.
- This would have destroyed many of the charts in terms of trend trading so we need to see this sort itself out.
- So I am expecting a strong pullback...is this the one and if so, is it in progress. Don't know.
- As I stated in my DXY post, the following:
So if the USD wants to pump, it will likely effect BITCOIN and the stock markets.... Just like previous years where January or early Feb, BTC and stocks drop.
- I'm not buying anything until I see some evidence that this has stopped, hence I will be watching the 8 Hrly chart for evidence on the 10/20 ema as well as the 4 hrly.
If there is a bullish candle or structure in the lower time frames, then back to leverage trading.
- ETH is my focus as it held up good and is likely to bounce better than BTC.
SUMMARY:
I really don't have much at this point but to sit back and observe.
I have not sold anything yet and I think that time will be approaching (BTC\ETH bag, nothing else).
My strategy at this point is to accumulate more BTC and ETH and use other alts to do it. These 2 are king and the others, if you believe in a project, then hodl if you got it early.
That's all I have at this point.
Cheers,
S.SAri
Macro daily
Current DXY daily price action
DXY POST
15 min chart
Just going to make this short and point out what is on the chart.
OBSERVATION:
- The 8 HRLY 10/20 ema was our upward trend and as you can see, it still is.
- The price reversal or rejection was at a key fib level on the macro of 1.414 extension, chart below
- The RSI is not of any use as it will state overbought or bearish divergence took place, and you can't argue with it.
- The key point is the support level - price has fallen into this channel and a bounce so far on the 0.382 retracement of this impulse wave.
- The wicks at the 37200 tells us its a strong support level. IF this doesn't hold, then its a bearish sign for a deeper pullback (15 to 20%).
I'm expecting a bounce here.
- MACD on the 8 hrly chart and the price action so far is giving us a cradle setup, if it holds, meaning a bullish setup.
THOUGHTS:
- Is this the reversal or correction we were to have?
- I'm looking for evidence to tell me this is a 30% correction but so far, nothing. It hasn't broken the very important trend line, chart below.
- This would have destroyed many of the charts in terms of trend trading so we need to see this sort itself out.
- So I am expecting a strong pullback...is this the one and if so, is it in progress. Don't know.
- As I stated in my DXY post, the following:
So if the USD wants to pump, it will likely effect BITCOIN and the stock markets.... Just like previous years where January or early Feb, BTC and stocks drop.
- I'm not buying anything until I see some evidence that this has stopped, hence I will be watching the 8 Hrly chart for evidence on the 10/20 ema as well as the 4 hrly.
If there is a bullish candle or structure in the lower time frames, then back to leverage trading.
- ETH is my focus as it held up good and is likely to bounce better than BTC.
SUMMARY:
I really don't have much at this point but to sit back and observe.
I have not sold anything yet and I think that time will be approaching (BTC\ETH bag, nothing else).
My strategy at this point is to accumulate more BTC and ETH and use other alts to do it. These 2 are king and the others, if you believe in a project, then hodl if you got it early.
That's all I have at this point.
Cheers,
S.SAri
Macro daily
Current DXY daily price action
DXY POST
15 min chart
Ghi chú
current price action based on this fib channel. You can clearly see where the rejections are occurring. I wish I was a awake to do some quick shorts as price decends.Ghi chú
Can this be the reversal structure taking place Ghi chú
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37k is the targetGhi chú
Ghi chú
Looking at the 1 hrly, looking for the HH and HL to continue otherwise red flag.Ghi chú
Ghi chú
2 scenarios a) Reaccumulation structure
b) H and S structure
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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