Morning guys,
Market looks heavy now, and personally I'm tending to idea of downside action, mostly because BTC has erased bullish patterns that we've discussed last time, and it can't get started upward action on weekly chart, although fake downside breakout of flag pattern has been formed. This "inability" usually leads to new lows. So, currently we do not consider taking any long positions on daily and above time frames.
Second is, price action is very choppy without any clear patterns that lets us to focus only on 1H chart. This is the only setup that we see currently, that may be will be realized. In general, price is forming flat wedge pattern, and inside the pattern market keeps tendency to form retracements in a way of "222" patterns. This time, price additionally has completed AB-CD target inside the wedge. Thus, in a case of "222" again - price could test 34K area with the same "222" shape. All "222"'s are finished right at upper border of the wedge.
This is the only setup that we could find here.
Market looks heavy now, and personally I'm tending to idea of downside action, mostly because BTC has erased bullish patterns that we've discussed last time, and it can't get started upward action on weekly chart, although fake downside breakout of flag pattern has been formed. This "inability" usually leads to new lows. So, currently we do not consider taking any long positions on daily and above time frames.
Second is, price action is very choppy without any clear patterns that lets us to focus only on 1H chart. This is the only setup that we see currently, that may be will be realized. In general, price is forming flat wedge pattern, and inside the pattern market keeps tendency to form retracements in a way of "222" patterns. This time, price additionally has completed AB-CD target inside the wedge. Thus, in a case of "222" again - price could test 34K area with the same "222" shape. All "222"'s are finished right at upper border of the wedge.
This is the only setup that we could find here.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.