BTC:USD 4 hour chart DAILY UPDATE (day 136)
Continuing with the new theme please see the checklist and notes below. Conclusion is the same as yesterday.
Outlook:
1-6 days: bearish
7 days - 1 month: bullish
1 month - 6 months: bearish
6+ months: super bullish
Yesterday’s analysis: OBV consolidating, Weekly 9, Daily amended countdown, resistance from 50 day MA. Expected downtrend through Sunday and then a bounce off the weekly 9.
Horizontal support and resistance: S: $6,150 R: $6,289 $ 6,200
BTCUSDSHORTS: Shorts at horizontal and trend support levels as they continue to diverge with the longs. BB’s show plenty of room for shorts to build.
Funding Rates: longs pay shorts 0.01%
EMA’s (12 & 26): Bearish crossover from 1minute - 1week
MA crossovers: bearish
FIB’s: Expecting 0.236 to breakdown this week
Candlestick analysis: Weekly and 3d tweezer top + bearish engulfing
Ichimoku Cloud: 1W: Price below bullish cloud. Bearish kumo twist. Bearish TK Cross. LS recently fell below price. 3D: Price below very thin cloud. C Clamp seems to be resolving itself D: Price below bearish cloud. Bearish TK cross. LS below price. Just broke down below Tenkan
TD Sequential: Weekly 9 seems very likely at this point. Red 1 on 3d following a 3 candle correction. Red 3 on daily after a completed count
Visible Range: $5,775 as the major local support level. $4,000 as biggest area of support over last year
50 & 200 MA’s (calculate % difference): X
BTC Price Spreadsheet: X
Bollinger Bands: 4h - 12h hugging bottom. 1d has some room to go as does 3d.
Trendline: Hyperwave at $5,000 (green). Downtrend from triangle at ~$7,500 (purple)
Daily Trend: 3 day bear trend is starting to form a descending triangle.
Fractals: D: up - $6,800 | down - $5,778
On Balance Volume: Daily coming for a 125,800 retest which has been a big level of support over the last month.
Buy/Sell Sentiment on Trading View: Oscillators are neutral and MA’s are a sell across the board.
“As for me, I have no desire to carry the football from end zone to end zone. Just give me the territory between the 20 yard lines.” PeterLBrandt
Yard line of trend:
Top: $19,776
Projected Bottom: $4,000
Field: $15,776 in length
87.15% of expected bear market is complete, therefore we are on the 13 yard line.
Conclusion: Expecting down trend to continue for another 5-6 days. Interested to see if is is a slow grind or if we get capitulation after breaking down $5,775. Feeling like it is too late to open a short and am planning on a large long position position from $4,500 - $5,000.
Outlook:
1-6 days: bearish
7 days - 1 month: bullish
1 month - 6 months: bearish
6+ months: super bullish
Yesterday’s analysis: OBV consolidating, Weekly 9, Daily amended countdown, resistance from 50 day MA. Expected downtrend through Sunday and then a bounce off the weekly 9.
Horizontal support and resistance: S: $6,150 R: $6,289 $ 6,200
BTCUSDSHORTS: Shorts at horizontal and trend support levels as they continue to diverge with the longs. BB’s show plenty of room for shorts to build.
Funding Rates: longs pay shorts 0.01%
EMA’s (12 & 26): Bearish crossover from 1minute - 1week
MA crossovers: bearish
FIB’s: Expecting 0.236 to breakdown this week
Candlestick analysis: Weekly and 3d tweezer top + bearish engulfing
Ichimoku Cloud: 1W: Price below bullish cloud. Bearish kumo twist. Bearish TK Cross. LS recently fell below price. 3D: Price below very thin cloud. C Clamp seems to be resolving itself D: Price below bearish cloud. Bearish TK cross. LS below price. Just broke down below Tenkan
TD Sequential: Weekly 9 seems very likely at this point. Red 1 on 3d following a 3 candle correction. Red 3 on daily after a completed count
Visible Range: $5,775 as the major local support level. $4,000 as biggest area of support over last year
50 & 200 MA’s (calculate % difference): X
BTC Price Spreadsheet: X
Bollinger Bands: 4h - 12h hugging bottom. 1d has some room to go as does 3d.
Trendline: Hyperwave at $5,000 (green). Downtrend from triangle at ~$7,500 (purple)
Daily Trend: 3 day bear trend is starting to form a descending triangle.
Fractals: D: up - $6,800 | down - $5,778
On Balance Volume: Daily coming for a 125,800 retest which has been a big level of support over the last month.
Buy/Sell Sentiment on Trading View: Oscillators are neutral and MA’s are a sell across the board.
“As for me, I have no desire to carry the football from end zone to end zone. Just give me the territory between the 20 yard lines.” PeterLBrandt
Yard line of trend:
Top: $19,776
Projected Bottom: $4,000
Field: $15,776 in length
87.15% of expected bear market is complete, therefore we are on the 13 yard line.
Conclusion: Expecting down trend to continue for another 5-6 days. Interested to see if is is a slow grind or if we get capitulation after breaking down $5,775. Feeling like it is too late to open a short and am planning on a large long position position from $4,500 - $5,000.
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Penafian
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