Just a simple prediction of what may happen in next few days. I believe we will test the higher-high at 10100 and afterwards enter a very sharp descending channel. I think anyone who holds Bitcoin needs to watch 10k area and if this scenario is valid, sell off or open short position. I have to say that there is a probability that price break 10.5k and continue its path to higher price (less probable). An ideal place to open short based on this chart is around 8500 and the last target is 10k.
Сделка активна
⋅
From 8800 when I wrote this post the price has followed the trend perfectly. In this level I recommend to take some profit and wait for next targets. There is a key resistence at 9500. If the price get rejected from 9500, then we would have a double top which lead us to MA200 probably.
Комментарий
⋅
Комментарий
⋅
Well, next target is around 10k and then holding Bitcoin would be really risky. I think it is a good idea to open short position from here to 8800. have good day
@metza24, I hope this pattern works. Though, as we are very close to the upcoming halving, buyers may take the control and move the price into another ascending channel (however I really doubt that).
thanks for your comment
Rottveel
⋅
The UT is not above the BC, so not sure if it would be valid?
homirne
⋅
@Rottveel, You are right. I also noticed that, therefore it is possible that Phase B lasts a little longer and during that period we reach a valid UT according to classic Wyckoff pattern. This is to some extent a complicated model and it is sometimes hard to match the price exactly.
Thanks for mentioning that.