Do or die moment for Bitcoin. Personally i'm playing my cards by opening a "scattered" Long trade.
Part from here, part from close to the 27.700$ mark, just in case of a bear trap.
Mind the fact this is a highly risky contrarian trade and it may fail, but 1:2 R:R is interesting enough to try playing it.
DYOD.
Part from here, part from close to the 27.700$ mark, just in case of a bear trap.
Mind the fact this is a highly risky contrarian trade and it may fail, but 1:2 R:R is interesting enough to try playing it.
DYOD.
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At intraday resistance.
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Bulls should try to achieve a breakout in order to let price breath.
Otherwise a slump is likely.
Get ready.
Otherwise a slump is likely.
Get ready.
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Weak, but still quite far from the 27.700$ mark.
Looking at volume, which is still low.
Anyway, at least Hash Ribbons fall starts showing some dent.
Looking at volume, which is still low.
Anyway, at least Hash Ribbons fall starts showing some dent.
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Bouncing, but 31550$ +on volume needed in order to seal the trap.
Let's see.
Let's see.
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Failing that it may be just a pullback to support.
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Meanwhile, hash ribbons:
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Let's zoom out and see what happens on 1D:
Price is facing the key resistance area: previous wedge support + MA50/W + midline of daily BB. Very, very tough area.
Let's wait and see.
Price is facing the key resistance area: previous wedge support + MA50/W + midline of daily BB. Very, very tough area.
Let's wait and see.
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Volume or it won't happen ...
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Critical moment.
That's RSI/D:
Back at confluence of wedge support/resistance.
Again, bulls need volumeor will fail.
Let's see.
That's RSI/D:
Back at confluence of wedge support/resistance.
Again, bulls need volumeor will fail.
Let's see.
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Remember to have a take profit set.
Don't risk more than deserved, choppy ride expected.
Don't risk more than deserved, choppy ride expected.
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Closest support in 31.500-31.200$ area.
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Watching this, it may turn into a inverted H&S:
Soon to say, but watch it.
Soon to say, but watch it.
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We have a pretty long TD strip, volume still average.
It's unclear whether this is a rising wedge or an ascending triangle, but it's more resembling the former.
Unless volume picks up substantially hence confirming an inverted H&S or ascending triangle and granting a brekout we may expect a pullback.
So remember to place a take profit, don't get caught off guard by events.
It's unclear whether this is a rising wedge or an ascending triangle, but it's more resembling the former.
Unless volume picks up substantially hence confirming an inverted H&S or ascending triangle and granting a brekout we may expect a pullback.
So remember to place a take profit, don't get caught off guard by events.
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Testing wedge support soon, watch it:
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The reason current area is tricky:
A breakout on volume is needed, or bears will take over again.
Bumpy weekend ahead, fasten your seatbelts.
A breakout on volume is needed, or bears will take over again.
Bumpy weekend ahead, fasten your seatbelts.
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Fine, but still lacking volume.
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Usual look at has ribbons:
Seemingly about to round a bottom.
Seemingly about to round a bottom.
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RSI/D already over resistance.
GIve it more volume and it would fly.
GIve it more volume and it would fly.
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As you saw, it flew ;)
Volume was the key.
Target reached, resistance pierced.
Needs confirmation.
Currently on holiday, i'll update at a later date.
If you enjoyed the trip up from 30k hen comment and like, so that i know my time here is well spent.
Take care, hope you had some nice gain.
Volume was the key.
Target reached, resistance pierced.
Needs confirmation.
Currently on holiday, i'll update at a later date.
If you enjoyed the trip up from 30k hen comment and like, so that i know my time here is well spent.
Take care, hope you had some nice gain.
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Upcoming test of mm20/w is crucial. Watch weekly close.
We have a historical record of bull trap on pullbacks there.
So protect your gains and watch the outcome.
We have a historical record of bull trap on pullbacks there.
So protect your gains and watch the outcome.
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Watch it
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Price eached that yellow target area pinpointed about 3 weeks ago.
Fine.
Moreover Two months ago i mentioned 42-44k area as first meaningful resistance:
Eager to see the outcome of the test as ma20/w is pretty close.
Fine.
Moreover Two months ago i mentioned 42-44k area as first meaningful resistance:
Eager to see the outcome of the test as ma20/w is pretty close.
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Got up to 42.500$ before pulling back.
No surprise.
Target area reached, a few days early.
Now it's time for careful observation of the test of MM20/W, which may take a while.
Have your position protected.
No surprise.
Target area reached, a few days early.
Now it's time for careful observation of the test of MM20/W, which may take a while.
Have your position protected.
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we'll have o better evaluate after a cooldown, meanwhile this is hash ribbons today:
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Pullback to FIB 0.618 achieved.
There's a possible bearish pennant forming, it would be important for bulls find a confirmation and bounce without completing a further pullback to previous resistance (now support). The latter option would imply a significative loss of momentum.
As you notice price is moving in a tight range within MA50/W and MA20/W.
A breakout of such range on volume will likely lead to the end of the sideways movement ongoing since may. Watch it.
There's a possible bearish pennant forming, it would be important for bulls find a confirmation and bounce without completing a further pullback to previous resistance (now support). The latter option would imply a significative loss of momentum.
As you notice price is moving in a tight range within MA50/W and MA20/W.
A breakout of such range on volume will likely lead to the end of the sideways movement ongoing since may. Watch it.
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NIce breakout.
Challenging resistance soon.
Watch MA20/W above if it breaks.
Challenging resistance soon.
Watch MA20/W above if it breaks.
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Hash ribbons:
Countdown to blue dot ?
Countdown to blue dot ?
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At MA20/W resistance, at last.
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Follow-up here:
![[Watch it] Moment of Truth approaching.](https://s3.tradingview.com/y/YikCnKlf_big.png)
