Can Bitcoin reclaim this channel?
Another view for Bitcoin . The structure in test is some kind of bear flag .
If it can, invalidating a bear flag is a good thing. As long as it doesn't get rejected from macro correction levels.
If it can, invalidating a bear flag is a good thing. As long as it doesn't get rejected from macro correction levels.
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If you are a true believer of "up only", you will want to see shoot above fibonacci levels and then test them for continuation higher.
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It's fair to expect a big top if it's gonna be a rejection.
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You know what? Horizontal cooldown is ok. No sign of weakness yet. Bubble will grow?
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My only problem is that these 2 cooldowns are too close to each other. I don't wanna say anything certain before seeing the reaction to ~23.900.
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Market says these 2 lines are important. Soooo maybe?
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This ~25.300 level is such a major level for Bitcoin. It's one of the most important indicator about the major trend for me. 200 wma. So as long as we are below that, assuming the reclaim of this channel will be bullish is a bold claim.
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This ~25.300 level is such a major level for Bitcoin. It's one of the most important indicator about the major trend for me. 200 wma. So as long as we are below that, assuming the reclaim of this channel will be bullish is a bold claim.
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Ok finally a clear test.
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It's a confluence point. I would at least take some profit here even if i was the most fanatic bull.
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Chop before a final decision. Looks like rejection so far.
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Market has completely focused on US markets imo. After the real impulse done. I don't think a positive decoupling is happening. Negative decoupling was so hard lately. It's fixed. That's all.
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You don't go to positive decoupling from negative decoupling in a day you know. What are the fundamental reasons? Crypto is a high risk asset class. Are we in a risk-on environment?
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I'm trying to make people understand specifically that lately :D Because some people act like Bitcoin is becoming world reserve currency tomorrow. No. That's just ridiculous.
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I refuse to be bearish about USD here.
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There is still one entity in the world that I won't trade against. Thats the FED. Sometimes you have to keep it simple.