Daily Overview II
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A daily overview for Bitcoin.
Pointing out a bullish and a bearish scenario.
Check the related ideas for more information.
Pointing out a bullish and a bearish scenario.
Check the related ideas for more information.
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With line chart and EMAs to see the similarities.Nota
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Weekly with a rising wedge idea
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Potential Bump and Run pattern
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Jojo Indicator says No No No No but once we break it then Yes Yes Yes YesNota
A setup to wait and watchNota
I usually really like those bottoms but not when we are below some key levels. Wait for the 4h candle close and see.Nota
That's why we wait for closes.Nota
Just a reminder for myself: Inverted charts are so powerful when we have a clear higher timeframe trend already confirmed.Nota
Okay, Bitcoin broke the H&S neckline on the daily. A retest of it is possible but consider that the probability for a successful H&S is around 83 % once the neckline is broken.Nota
So far a H&S retest got rejected. It did retest the falling wedge, we broke into it but now broke down again.Nota
Bitcoin broke and retested the curved trendline on the old Daily Overview Idea. Means from here there is no more objective bearish charting, only guesses.Bitcoin might retests the downward trendline and the H&S neckline resistance. A break and support retest of those levels if to be considered as bullish.
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Bitcoin broke into the H&S neckline resistance.The 4h timeframe shows a possible bullish continuation scenario. Means the old neckline is a support zone for this scenario.
The weekly MACD shows a smooth increase of momentum, what is supportive for that scenario.
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While the 4h and weekly patterns correspond, the daily does not. Means we have a lower and a higher timeframe telling us a different story. Well, we can use this to make a possble bearish scenario on the timeframe in between, here it is the daily tf.The thick yellow trendline is mostly overlooked by pretty much any trader since November 2021 but not here. We drew and used that trendline since november.
Bitcoin has hit the Daily EMA 300 and the yellow Trendline, both is to be considered as strong restistance.
Quick reminder, a 'Moving Average' is where Buyers and Seller meet. Long short Bitcoin is at another decision moment.
a most likely possiblity is a pullback to 40k price levels and then a bullish continuation.
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Different Neckline from an another idea from another guy:
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