The last week has been a wild ride! BTC, ETH, and nearly every other crypto have seen massive upswings since the last touch at $6400. However we all know the saying, what goes up must come down. I am just hoping these next moves down are small pullbacks and not a continuation of the bearish trend.
We currently have multiple bullish factors on our side. We have two large scale harmonic patterns marking $6400 as the bottom for some time. One of which is the Bullish Shark which is displayed above.
Here are the three major targets for the Bullish Shark, which are also shown in the red resistance zones above:
BTC has already made its way yup into the first resistance zone which is a very good long term sign. This is because while reaching this zone, we successful broke the long term trend line on both the linear and log scales.
Even though that is an extremely bullish signal I do expect some pullback before successfully breaking through.
This is because this zone also marks the completion of two BEARISH Harmonic patterns, along with resistance displayed by DepthHouse S/R.
IF these harmonic patterns hold true, their first targets are down at $7500.
This could be turn into an excellent opportunity for people to refill those bags if BTC remains bullish.
I hope you all found this analysis useful!
Cheers and good luck!
DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
We currently have multiple bullish factors on our side. We have two large scale harmonic patterns marking $6400 as the bottom for some time. One of which is the Bullish Shark which is displayed above.
Here are the three major targets for the Bullish Shark, which are also shown in the red resistance zones above:
- $9,300
- $11,700
- $13,200
BTC has already made its way yup into the first resistance zone which is a very good long term sign. This is because while reaching this zone, we successful broke the long term trend line on both the linear and log scales.
Even though that is an extremely bullish signal I do expect some pullback before successfully breaking through.
This is because this zone also marks the completion of two BEARISH Harmonic patterns, along with resistance displayed by DepthHouse S/R.
IF these harmonic patterns hold true, their first targets are down at $7500.
This could be turn into an excellent opportunity for people to refill those bags if BTC remains bullish.
I hope you all found this analysis useful!
Cheers and good luck!
DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Bình luận:
Extremely bullish move by breaking through the 9300 res.
This means the two smaller harmonic are no longer in play.
We are currently sitting at the long term .618 resistance.
However looking at the RSI Grid it shows overbought across all time frames.
I have sold and am waiting for either sideways consolidation or a retracement to the blue fib levels to enter again.
This means the two smaller harmonic are no longer in play.
We are currently sitting at the long term .618 resistance.
However looking at the RSI Grid it shows overbought across all time frames.
I have sold and am waiting for either sideways consolidation or a retracement to the blue fib levels to enter again.
Bình luận:
Looking for major support in the 8.3 zone
Creator of DepthHouse Indicators on TradingView!
↣ depthhouse.com/
↣ depthhouse.com/
Will be taking profit in this zone.