BTC / USDT - a quick retest of lows prior resuming uptrend

2 мар. 2021 г.

Previous analysis was pretty much spot on - sometimes these anomalies of perfect entries do happen but not so often as one would wish.

Current outlook:

Volume is decreasing
Completed a 5 wave impulse on lower TM (15 min)
Resting on 50 EMA / 20EMA cross pending (4hour)
Resistance zone above us

Pretty tricky to be honest. I would prefer it to visit 0.50 / 0.618 retracement from the previous bottom but it may not come and just continue pumping.

Either way, the current price should be a good place to enter a short with a tight SL above the previous high.

2 мар. 2021 г.

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Lower TM:

2 мар. 2021 г.

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4hr - MACD about to hit resistance at the 0 level - > typically reverses down when approached from below:



On the 15 min - same story.

2 мар. 2021 г.

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Man, i knew this was a fakeout but couldn't pull the trigger to short sell more. Oh, well, still let's t try to meet the target.

2 мар. 2021 г.

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Hm, heavily bought at the 0.382 fib. Will go up a bit and retest resistance. If rejected, then it should go below further, otherwise that was the dip for now.

2 мар. 2021 г.

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3 мар. 2021 г.

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Yep, that was the dip for now. Moved right into previous resistance zone. Should retrace back from here to previous high but seems it wants to go further up: