BTC's Bearish Momentum Should End Soon

11 giu 2021

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Just something I noticed while having a look on the 12hr line chart with the (O+H+L+C)/4 setting.
Looks like we could see one more wave down before attempting to break this descending wedge that's formed.
Price target would be higher if BTC broke up early (something around 45k)

*Wait for a 12hr close above/below before making a decision*

11 giu 2021

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Added a horizontal line around where I'd expect the wave 5 bottom in the likely scenario that we reject here

16 giu 2021

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Broke out of the wedge after a small 4th wave, Looking for a re-test of the upper trend line before we can confirm bullish sentiment

18 giu 2021

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Scary near-perfect rejection from that 0.382



^closer view


^Same fib but low time-frame

19 giu 2021

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19 giu 2021

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Looking like a breakout & re test!

21 giu 2021

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Back into the wedge

22 giu 2021

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12hr closed, completing wave 5 (later than expected) expecting another attempt at a true breakout now

25 giu 2021

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Looking good ;)

27 giu 2021

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28 giu 2021

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29 giu 2021

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Closer look at the recent wedge breakout, looking much stronger than last time with that local double bottom on the lower TL of the wedge before breaking out!
Adjusted the upside target based on the wedge breakout location.
Looking strong for possible bullish momentum from here

4 lug 2021

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Checkout this one!

4 lug 2021

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BTC S/R levels: