BTC update after CPI data released.
Updated
Hi dear community and my loyal followers. As you know actual CPI data released 7.1% but had expected 7.3% so both stock and crypto market reacted the news positively and pumped making the market green.
If you check my previous analysis about BTC short term update, You can see that I warned you about it, tweeted about new updates how I closed my short position at 16.8K and opened long at the same level.
I'm looking at daily timeframe and as you see I expect BTC bullish move towards 21.5-22K if it flips green zone and at the same time OBV breaks the mentioned blue channel and confirms trend strength with volume.
When you look at my daily chart you can notice how BTC diagonal support trendline held & how beautiful triple bottom on OBV chart played out very well.
If BTC breaks the mentioned green zone 18.5K it will confirm and increase probability that my previous analyses were accurate about BTC bottom and Wyckoff accumulation phase.
As you remember I mentioned many times that BTC real bottom was at 17.5K in June and the recent dump from 17.5K to 15.5K was a false breakdown/bear trap/ with double bottom pattern + many bullish divergences like 2021 November top which was a false breakout/ bull trap/ with double top = many bear divergences. At the same time I published Wyckoff accumulation phase and told you that the recent dump from 17.5 to 15.5K was a spring.
As you see on the chart I expect red line scenario for coming days. BTC more likely will hit 21.5-22K supply zone and rejects at that area and tests 18-18.5K resistance, then hits upper band of the Wyckoff accumulation zone.
If my scenario plays out, it will also confirm the weekly falling wedge breakout and retest posted bellow and my previous analyses.
Check bellow other bullish weekly charts and indicators I'm going to update.
If you like my ideas and analyses, don't forget to like and follow for further updates. I will appreciate any single follow, like & comment.
If you check my previous analysis about BTC short term update, You can see that I warned you about it, tweeted about new updates how I closed my short position at 16.8K and opened long at the same level.
I'm looking at daily timeframe and as you see I expect BTC bullish move towards 21.5-22K if it flips green zone and at the same time OBV breaks the mentioned blue channel and confirms trend strength with volume.
When you look at my daily chart you can notice how BTC diagonal support trendline held & how beautiful triple bottom on OBV chart played out very well.
If BTC breaks the mentioned green zone 18.5K it will confirm and increase probability that my previous analyses were accurate about BTC bottom and Wyckoff accumulation phase.
As you remember I mentioned many times that BTC real bottom was at 17.5K in June and the recent dump from 17.5K to 15.5K was a false breakdown/bear trap/ with double bottom pattern + many bullish divergences like 2021 November top which was a false breakout/ bull trap/ with double top = many bear divergences. At the same time I published Wyckoff accumulation phase and told you that the recent dump from 17.5 to 15.5K was a spring.
As you see on the chart I expect red line scenario for coming days. BTC more likely will hit 21.5-22K supply zone and rejects at that area and tests 18-18.5K resistance, then hits upper band of the Wyckoff accumulation zone.
If my scenario plays out, it will also confirm the weekly falling wedge breakout and retest posted bellow and my previous analyses.
Check bellow other bullish weekly charts and indicators I'm going to update.
If you like my ideas and analyses, don't forget to like and follow for further updates. I will appreciate any single follow, like & comment.
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