Reasons to short BTCUSDT -->
1) Downtrend's pullback, build up of bearish flag pattern
2) Multiple resistance to clear
3) bounce from resistance with no clear signs of follow up buying
Reasons to long BTCUSDT -->
1) Price showed bounce from support with morning star doji in 4H timeframe
if you are willing to short wait for confirmations like:
--> candle close...
As, we see BTC/USDT has been consolidating from last 14 days, so
1) If BTC/USDT breaks green trendline than it would be good to short on retest, and it is also forming a flag pattern (which is a continuation pattern) so we might see big correction with minimum 10% of move downside
2) But if bulls manage to break out of this kind of side-wise trend than it will...
As you can in the chart I published, there is a lot of confluences around 47.2 to 49.5K
# Just imagine, whole world expects BTC to cross 100k,it will be a huge mile stone in history. As its gonna bring everyone attention to BTC (crytpocurrency) from East to West.
# For BTC to cross 100k, it needs a hell of volume. At present, u can see there is a declining...
If we reclaim above 50.2K this will be my primary / most probable count where we still haven't completed wave 1 of bigger wave 5 and are currently in wave 5 (yellow) of 1 (orange) of bigger wave 5 which will end around 59-61K region and will give a retrace towards 40K region where I would expect price to take out that liquidity I mentioned on chart before starting...
I’m currently seeing a falling wedge on the 4h. It’s clearly visible that we got a rejection on the 3388 level. I think that if we break out of the wedge we will hit the technical target which will be at around 3500 approximately. It looks like we found support at the 3248 and 3199 level approximately.
Keep in mind that we’ve also got a bullish divergence as...
Recent price drop in btc wasn't a surprise for me as I was talking about 52-53K top from a while from both bullish and bearish perspective but now Bitcoin bulls need to be alert coz this bullish count which I made for bulls will be invalidated if we do close a 4h candle below 42.5K and that would indicate bigger ABC is almost 90%on the cards while on the other...
Pretty well respected fib channel during bull phase acting acting as a resistance now on 27th August it's top will be around 52.5K which matches with our earlier analysis.
As per the crucial fib level we are already trading above the golden pocket in the monthly candle, but what's worrying is the srsi is trading in an over bought area which is a clearing indications that market may make a passive high this month but either in Dec or Jan market will start falling
