Btc: Are we still bullish?
[bLet's look at yesterday's price action:
We started up with -600$ dump in 15m, then saw a 300$ recovery in 12h, then we saw -300$ dump in 45m to finish with a 200$ recovery.. What can we expect next?
1. Higher timeframes vs Lower timeframes
We can clearly see that we have a big battle going on.
- 3d & 1w are extremely bullish;
- 1d is pretty neutral;
- 4h & 1h are pretty bearish;
What do i mean by that?
* This week we saw Btc break a big downtrend channel at 8.5k, while we just manage to close over it to on the weekly timeframe.
* We managed to hold well 8 650 even though we have a big bearish divergence on the daily timeframe.
* Macd and Rsi crashed hard on the 4h, but by a miracle we are still holding the uptrend even on this daily close.
So what's my bias?
Currently this dump was normal, we grinded from 6.4k too 9.2k in less than a month! So it's normal to see some people taking profits here.
But i truly believe that if you want to get an idea where the market is going you need to look at the HTF first, than use the LTF to take the trade.
So how to make them fits together?
HTF is showing a possible retracement on breakpoint before a rise around 10.9 - 11.2k!
On LTF since the trend is still good and 8 610 held every drop i say that we will go up a little, probably too 8 850 - 8 925 than see a last retracement to the 8 250 - 8 325 area (You don't want to miss this!) And up from there.
It's important to understand that losing 8 240 will resolve in an extended retracement around 7.8k!
If you want to see the play for this call, feel free to click on the link below, you will be re-directed to my private group!
We started up with -600$ dump in 15m, then saw a 300$ recovery in 12h, then we saw -300$ dump in 45m to finish with a 200$ recovery.. What can we expect next?
1. Higher timeframes vs Lower timeframes
We can clearly see that we have a big battle going on.
- 3d & 1w are extremely bullish;
- 1d is pretty neutral;
- 4h & 1h are pretty bearish;
What do i mean by that?
* This week we saw Btc break a big downtrend channel at 8.5k, while we just manage to close over it to on the weekly timeframe.
* We managed to hold well 8 650 even though we have a big bearish divergence on the daily timeframe.
* Macd and Rsi crashed hard on the 4h, but by a miracle we are still holding the uptrend even on this daily close.
So what's my bias?
Currently this dump was normal, we grinded from 6.4k too 9.2k in less than a month! So it's normal to see some people taking profits here.
But i truly believe that if you want to get an idea where the market is going you need to look at the HTF first, than use the LTF to take the trade.
So how to make them fits together?
HTF is showing a possible retracement on breakpoint before a rise around 10.9 - 11.2k!
On LTF since the trend is still good and 8 610 held every drop i say that we will go up a little, probably too 8 850 - 8 925 than see a last retracement to the 8 250 - 8 325 area (You don't want to miss this!) And up from there.
It's important to understand that losing 8 240 will resolve in an extended retracement around 7.8k!
If you want to see the play for this call, feel free to click on the link below, you will be re-directed to my private group!
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