I believe Bitcoin is brewing up a couple of big moves for this year. However, I also think that it's going to trick a lot of people before the true move takes place.
I analyze four "main charts" for directional bias, and I use the others as fillers. Currently, I'm getting half & half with my bias, where two is telling me bear and the other two is leaning towards bull. The two smallest TFs is bear at the moment, and I'm viewing that as a precursor for what's to come in the future.
In my opinion, Bitcoin's price must bleed before the next bull run takes place. Price action is near not only the daily low, but it's hovering over the current weekly & monthly low, too! I would like to see the bulls takeover on the daily and weekly TFs in order for price to rally to the highs, but only for it to run into huge bear barriers.
Bear Barriers:
1. Monthly IMB (untouched)
2. 3M wick (untouched)
3. Bear range ($130K - $160K)
4. S/R ($122,100K)
If the bears do come into the market around the $130K - $160K range, I'm anticipating a massive drop in price around $40K - $60K. Sounds crazy right?! I have my reasons why, but I'll keep it close to the chest until things starts to unfold with this crypto.
In conclusion, I'm currently stuck in the middle with my bias until the two smallest TFs flip back to bull, but price can throw a curve ball and demolish the monthly low to turn it bear... we shall see how this plays out, and I'll share my thoughts as it progress.
I analyze four "main charts" for directional bias, and I use the others as fillers. Currently, I'm getting half & half with my bias, where two is telling me bear and the other two is leaning towards bull. The two smallest TFs is bear at the moment, and I'm viewing that as a precursor for what's to come in the future.
In my opinion, Bitcoin's price must bleed before the next bull run takes place. Price action is near not only the daily low, but it's hovering over the current weekly & monthly low, too! I would like to see the bulls takeover on the daily and weekly TFs in order for price to rally to the highs, but only for it to run into huge bear barriers.
Bear Barriers:
1. Monthly IMB (untouched)
2. 3M wick (untouched)
3. Bear range ($130K - $160K)
4. S/R ($122,100K)
If the bears do come into the market around the $130K - $160K range, I'm anticipating a massive drop in price around $40K - $60K. Sounds crazy right?! I have my reasons why, but I'll keep it close to the chest until things starts to unfold with this crypto.
In conclusion, I'm currently stuck in the middle with my bias until the two smallest TFs flip back to bull, but price can throw a curve ball and demolish the monthly low to turn it bear... we shall see how this plays out, and I'll share my thoughts as it progress.
Note
Bitcoin's price closed the previous week out in strong bear fashion, and by doing that it's currently in the monthly low. It also broke the daily & weekly low. The next S/R is $60K.Note
I'm looking for the bears to re-enter the market around the $73K - $77K range in order to push below the $60K price point. Note
M.R.L. was broken on the H4. Price action could head towards $60K and under sooner than I anticipated.
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Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.