BTC/USD: A Christmas Weekend Study
FUNDAMENTAL BACK-DROP
*Imho, if there was ever a time to expect fireworks, it's right now.
*Weekend trading session for the next ~2 days. Institutions and majority of players are offline for Christmas day and/or weekend. Perfect environment for fuckery.
*US holidays, and Christmas in particular, are proven to be powerful market events. (Often see pivots in price/sentiment through these windows).
*"Buy when it snows, sell when it goes." - it's that time of year!
**Recent CME event (listing ETH micro futures ) on Dec. 6
**Positive reaction from most recent FOMC meeting on Dec. 15
**Recent full moon phase change on Dec. 20
LOWER-TIME-FRAME TECHNICAL ANALYSIS
*Structurally, price is trading within a megaphone pattern (making higher highs and lower lows). This implies high volatility in both directions until the megaphone is resolved.
*Certainly trading against some key highs right now (top end of the range). In good shorting/selling location right now for people who think this rally into Christmas is bulslhit.
HIGHER-TIME-FRAME TECHNICAL CONTEXT
*Price is coming awfully close to triggering a major double bottom , drawn off the 1D chart. (The counter-trend rally high following Dec. 4 liquidation cascade).
*$51,995 is the level to watch. I'm officially "uber-bull" if we start closing above this level.
*Bullish momentum divergence confirmed ( MACD ) and continuing to build on the 1D chart.
--
LIKE THE ANALYSIS?
Send me a DM . I'd like to build a community of half decent traders and technicians.
*Imho, if there was ever a time to expect fireworks, it's right now.
*Weekend trading session for the next ~2 days. Institutions and majority of players are offline for Christmas day and/or weekend. Perfect environment for fuckery.
*US holidays, and Christmas in particular, are proven to be powerful market events. (Often see pivots in price/sentiment through these windows).
*"Buy when it snows, sell when it goes." - it's that time of year!
**Recent CME event (listing ETH micro futures ) on Dec. 6
**Positive reaction from most recent FOMC meeting on Dec. 15
**Recent full moon phase change on Dec. 20
LOWER-TIME-FRAME TECHNICAL ANALYSIS
*Structurally, price is trading within a megaphone pattern (making higher highs and lower lows). This implies high volatility in both directions until the megaphone is resolved.
*Certainly trading against some key highs right now (top end of the range). In good shorting/selling location right now for people who think this rally into Christmas is bulslhit.
HIGHER-TIME-FRAME TECHNICAL CONTEXT
*Price is coming awfully close to triggering a major double bottom , drawn off the 1D chart. (The counter-trend rally high following Dec. 4 liquidation cascade).
*$51,995 is the level to watch. I'm officially "uber-bull" if we start closing above this level.
*Bullish momentum divergence confirmed ( MACD ) and continuing to build on the 1D chart.
--
LIKE THE ANALYSIS?
Send me a DM . I'd like to build a community of half decent traders and technicians.
Penafian
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