BitcoinTelah dikemas kini A closer look at BTC price action
Hi guys/gals,
In this analysis I zoom in to the 20H chart and plan my charting around the low set in June '2022. I hope you find my ideas helpful and useful in your own personal journeys.
With BTC setting new higher lows starting back in June '2022 this is where I begin my Idea.
Tools I use:
As price steadily ticked up pulling in liquidity, for those who bought the dip becoming greedy price fell failing to brake the 200 MA, price then fell from that point on increasing with momentum falling bellow the 50 MA medium term momentum indicator, price then sped up considerably trapping those who bought the top in mid August '22.
I would imagen those holders would be questioning their positions at that point some may have already sold their positions at a loss. To add insult to injury price ripped back to the 200 MA a week or so later making those who lost FOMO back in only to trap them once again.
Price then harshly rejected the 200 MA around 12th Sep '22 pulling price back under the short and medium term MA's. This is were I placed my warning sign.
This now made the upper orange zone a strong key level to keep an eye on.
Price then ranged for about two months before trying to brake back above the orange zone and the 200 MA.
BTC price again harshly rejected the orange zone and 200 MA forcing price sharply to the down side.
This is why I have place my sad face here as I believe people to be in the negative and wanting to sell their positions given a chance and as we see every little pump is seen with a sell off telling me short term holders want out.
To see price potentially drop from here we need to see the greedy holders finally sell their bags saying they have had enough and want out.
This will probably indicate the low is possibly in and we would need to see key levels re taken for a continuation to the upside.
Were is price going? Well with momentum telling us price wants to head lower we could see a drop to 13k/14k area flushing out those trapped back in August.
The lower zones are possible target if momentum picks up heavily to the downside.
If price can regain the 200 MA and a few key levels BTC has a good chance at having some positive price action.
As always Be smart, Invest with caution.
Stay safe,
Crypto Leonard
In this analysis I zoom in to the 20H chart and plan my charting around the low set in June '2022. I hope you find my ideas helpful and useful in your own personal journeys.
With BTC setting new higher lows starting back in June '2022 this is where I begin my Idea.
Tools I use:
- faces, what I see as emotions
- question marks
- exclamation marks
- arrows, crosses
- colour coded rectangles
As price steadily ticked up pulling in liquidity, for those who bought the dip becoming greedy price fell failing to brake the 200 MA, price then fell from that point on increasing with momentum falling bellow the 50 MA medium term momentum indicator, price then sped up considerably trapping those who bought the top in mid August '22.
I would imagen those holders would be questioning their positions at that point some may have already sold their positions at a loss. To add insult to injury price ripped back to the 200 MA a week or so later making those who lost FOMO back in only to trap them once again.
Price then harshly rejected the 200 MA around 12th Sep '22 pulling price back under the short and medium term MA's. This is were I placed my warning sign.
This now made the upper orange zone a strong key level to keep an eye on.
Price then ranged for about two months before trying to brake back above the orange zone and the 200 MA.
BTC price again harshly rejected the orange zone and 200 MA forcing price sharply to the down side.
This is why I have place my sad face here as I believe people to be in the negative and wanting to sell their positions given a chance and as we see every little pump is seen with a sell off telling me short term holders want out.
To see price potentially drop from here we need to see the greedy holders finally sell their bags saying they have had enough and want out.
This will probably indicate the low is possibly in and we would need to see key levels re taken for a continuation to the upside.
Were is price going? Well with momentum telling us price wants to head lower we could see a drop to 13k/14k area flushing out those trapped back in August.
The lower zones are possible target if momentum picks up heavily to the downside.
If price can regain the 200 MA and a few key levels BTC has a good chance at having some positive price action.
As always Be smart, Invest with caution.
Stay safe,
Crypto Leonard
Nota
Is there a black swan event looming in the coming months?Looking towards Digital Currency Group (DCG) a venture capital firm focused on digital currency. Currently owing Genesis a subsidiary of DCG over 1 billion dollars, one must question the effects unleashing 600,000 BTC onto the market would do.
Is the contagion of the FTX collapse still playing out, how much more damage will it course.
Will we see a LIQUIDATION coming from DCG!
We must keep this in mind when planning our own digital investments.
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Penafian
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.