Note: This post is only focused on micro moves
Continuation of the previous post
Observations:
================
> Bitcoin price is gaining traction above the $7,400 and $7,500 resistance levels
> Approaching strong resistances starting with $7,640 and up to $8,000.
Thoughts:
================
A continuous failure near $7,700 and $7,800 could spark another bearish wave.
Still maintaining the structure of the reversal macro pattern of Inv. H & S. as per my previous posts.
Note, I changed my inv. H&S formation because the previous one did not kick off, hence my believe is that we are now completing the HEAD to the neckline.
If it goes towards 7700-7800, then the previous inv. H&S is confirmed.
Many think Inv H&S pattern, but I think a rejection at the 7650 to 6800 range will make way for this Inv. H&S. Why, because many inv. H&S patterns have not eventuated, and usually the bottom doesn't spring out that easily, its usually drawn out.
Thoughts on the MACRO
======================
I feel we are still in the working range of the bottom, not yet accumulation but establishing the boundaries, as per my post here and the main scenario I have posted in the past, link below.
PREVIOUS POST
Continuation of the previous post
Observations:
================
> Bitcoin price is gaining traction above the $7,400 and $7,500 resistance levels
> Approaching strong resistances starting with $7,640 and up to $8,000.
Thoughts:
================
A continuous failure near $7,700 and $7,800 could spark another bearish wave.
Still maintaining the structure of the reversal macro pattern of Inv. H & S. as per my previous posts.
Note, I changed my inv. H&S formation because the previous one did not kick off, hence my believe is that we are now completing the HEAD to the neckline.
If it goes towards 7700-7800, then the previous inv. H&S is confirmed.
Many think Inv H&S pattern, but I think a rejection at the 7650 to 6800 range will make way for this Inv. H&S. Why, because many inv. H&S patterns have not eventuated, and usually the bottom doesn't spring out that easily, its usually drawn out.
Thoughts on the MACRO
======================
I feel we are still in the working range of the bottom, not yet accumulation but establishing the boundaries, as per my post here and the main scenario I have posted in the past, link below.
PREVIOUS POST
Nota
I'll be looking for similarities of the stochastic for the bounce Nota
Bearish divergences appearing in the 30 to 2 hourly chartsNota
The other alternative.Difficult to say.Nota
another takeNota
Nota
Nota
Looking bullish, keeping an eye on this position to decide if or not to go inNota
Nota
Nota
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
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.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
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.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.