BTC chart for 1/4/21 @ 9:50 EST showing possible trend lines
same chart as before but cleaned up the trends that are no longer viable.
we can see at bottom around the 27.8K level and now a nice rally to retrace the upside. ill be looking for a W pattern with a higher low developing on the 1H candles before i look to get back into a LONG.
also keep in mind the long wick down on the 4am 1h candle is very bullish . lets see if the bulls can take control back or will the bears beat the price back down. who knows!
side note.....price targets (PT) are measured from the highest wick to the lowest wick recently made. PT changes with where the breakout occurs within the pendant.
tip of the day....
do not act until the charts have spoken.
****im not a professional. just sharing my thoughts so you can compare with yours. ***
let me know what you think ...
like and subscribe if you like the content. i do this for fun only.
we can see at bottom around the 27.8K level and now a nice rally to retrace the upside. ill be looking for a W pattern with a higher low developing on the 1H candles before i look to get back into a LONG.
also keep in mind the long wick down on the 4am 1h candle is very bullish . lets see if the bulls can take control back or will the bears beat the price back down. who knows!
side note.....price targets (PT) are measured from the highest wick to the lowest wick recently made. PT changes with where the breakout occurs within the pendant.
tip of the day....
do not act until the charts have spoken.
****im not a professional. just sharing my thoughts so you can compare with yours. ***
let me know what you think ...
like and subscribe if you like the content. i do this for fun only.
Penafian
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