Hello traders,
BTCUSD
bands are narrowing quickly, therefore, volatility contraction or narrowing of the bands can foreshadow a significant advance or decline. In this case a slight pullback is indeed in the cards before upward pressure towards 6000 - 6200 for more bull attraction.
Shorter bearish flags are pointing in a descending wedge since the last bear engulfing candle and each low is lower than it's prior on the 1 hour.
I think we will see an advance very quickly taking our total MCAP in crypto around 192B by 5/9.
5500 < Bear Flash short (false breakout)
5600> Bullish sentiment long
Psycho support: 5650
Major support: 5500
Resistance : 5800
Target: 6000-6100 Monday / Tuesday.
Sharp Correction after 6300 is reached short 30-40%
BTCUSD
bands are narrowing quickly, therefore, volatility contraction or narrowing of the bands can foreshadow a significant advance or decline. In this case a slight pullback is indeed in the cards before upward pressure towards 6000 - 6200 for more bull attraction. Shorter bearish flags are pointing in a descending wedge since the last bear engulfing candle and each low is lower than it's prior on the 1 hour.
I think we will see an advance very quickly taking our total MCAP in crypto around 192B by 5/9.
5500 < Bear Flash short (false breakout)
5600> Bullish sentiment long
Psycho support: 5650
Major support: 5500
Resistance : 5800
Target: 6000-6100 Monday / Tuesday.
Sharp Correction after 6300 is reached short 30-40%