Hey, Traders. BTC has had some significant pushes these last few days and it has been surprising to many. But, if you've been following our posts on ETH and our structural analyses, you can see how this has been playing beautifully like a flute! Please see our previous posts for more details.
Where are we now?
BTC has been playing out a H4 Structure the last few days. This started with an H4 Break of Structure Up back on Dec 2 when it closed above 92,500. This BOS was a good push up, but as we have shown here numerous times, it usually leads to a significant pull back to the Source. In this case, the source was around 84,600. We saw BTC fall exactly back to this area. To many this seemed like another crash and there were many posts, speculations, etc. about Fed rates, Gold Pumps, etc. But to keen technical traders, this was all expected, and offered a great opportunity to buy at around $85K.
This return to the H4 Source set the way for BTC to push back up to the Daily Supply Zone (94,500 - 96,800) where we are today. There was little to nothing to stop it from returning here after the H4 Confirmation.
So, What's Next?:
At today's close, BTC gave a Daily BOS Up, with a close above this Daily Supply Zone ~96,700. This has been long awaited, and is the first Strong Bullish sign since we fell from ATH in October. So, this is the first Real signal that the BTC fall is over (the lows have been put in around 80K). Now, what we should expect from here is two-fold:
1. In my analyses, A BOS up almost always leads to a pullback return to the Source. In this case, the Daily Source is (80,500 - 87,500). That is a large area, so I would look for the H4 source within that zone (80,500 - 84,500) for the most likely pullback area. This is the strongest and most likely scenario.
2 . The only way we don't fall back to this Daily Source area is with a strong Retest and Rejection of this latest Daily Supply Zone. This is not as likely, but could happen. The Retest needs to be strong, though. We need to see a Daily bearish candle push significantly back into this Daily supply zone, but get rejected hard and end up closing back above the top of the zone - above 96,700. If that happens, then we need another strong bullish daily candle away from the zone. These MUST happen to keep BTC going up. If we get this pattern, then it's off to the races and there will only be a few insignificant resistance areas (110K - 112K) and (114K - 115K) that will slow it down on its way back to near ATH. I'd expect a push back to 123K, and then a strong re-assessment from there.
So, that's what I see playing out on BTC. Please leave me your comments, suggestions, etc. as I would love to hear from you. Also, if you don't have strong technical analysis skills and would like to learn how we "READ" the markets, drop me a line and I'd be glad to discuss our training programs with you. Happy Trading!!!
Where are we now?
BTC has been playing out a H4 Structure the last few days. This started with an H4 Break of Structure Up back on Dec 2 when it closed above 92,500. This BOS was a good push up, but as we have shown here numerous times, it usually leads to a significant pull back to the Source. In this case, the source was around 84,600. We saw BTC fall exactly back to this area. To many this seemed like another crash and there were many posts, speculations, etc. about Fed rates, Gold Pumps, etc. But to keen technical traders, this was all expected, and offered a great opportunity to buy at around $85K.
This return to the H4 Source set the way for BTC to push back up to the Daily Supply Zone (94,500 - 96,800) where we are today. There was little to nothing to stop it from returning here after the H4 Confirmation.
So, What's Next?:
At today's close, BTC gave a Daily BOS Up, with a close above this Daily Supply Zone ~96,700. This has been long awaited, and is the first Strong Bullish sign since we fell from ATH in October. So, this is the first Real signal that the BTC fall is over (the lows have been put in around 80K). Now, what we should expect from here is two-fold:
1. In my analyses, A BOS up almost always leads to a pullback return to the Source. In this case, the Daily Source is (80,500 - 87,500). That is a large area, so I would look for the H4 source within that zone (80,500 - 84,500) for the most likely pullback area. This is the strongest and most likely scenario.
2 . The only way we don't fall back to this Daily Source area is with a strong Retest and Rejection of this latest Daily Supply Zone. This is not as likely, but could happen. The Retest needs to be strong, though. We need to see a Daily bearish candle push significantly back into this Daily supply zone, but get rejected hard and end up closing back above the top of the zone - above 96,700. If that happens, then we need another strong bullish daily candle away from the zone. These MUST happen to keep BTC going up. If we get this pattern, then it's off to the races and there will only be a few insignificant resistance areas (110K - 112K) and (114K - 115K) that will slow it down on its way back to near ATH. I'd expect a push back to 123K, and then a strong re-assessment from there.
So, that's what I see playing out on BTC. Please leave me your comments, suggestions, etc. as I would love to hear from you. Also, if you don't have strong technical analysis skills and would like to learn how we "READ" the markets, drop me a line and I'd be glad to discuss our training programs with you. Happy Trading!!!
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.