BTC.USDT (Y20.P6.E19).Things to observe

Hi All,

Just going to make this short and point out what is on the chart.

OBSERVATION:
- The 8 HRLY 10/20 ema was our upward trend and as you can see, it still is.
- The price reversal or rejection was at a key fib level on the macro of 1.414 extension, chart below
- The RSI is not of any use as it will state overbought or bearish divergence took place, and you can't argue with it.
- The key point is the support level - price has fallen into this channel and a bounce so far on the 0.382 retracement of this impulse wave.
- The wicks at the 37200 tells us its a strong support level. IF this doesn't hold, then its a bearish sign for a deeper pullback (15 to 20%).
I'm expecting a bounce here.
- MACD on the 8 hrly chart and the price action so far is giving us a cradle setup, if it holds, meaning a bullish setup.

THOUGHTS:
- Is this the reversal or correction we were to have?
- I'm looking for evidence to tell me this is a 30% correction but so far, nothing. It hasn't broken the very important trend line, chart below.
- This would have destroyed many of the charts in terms of trend trading so we need to see this sort itself out.
- So I am expecting a strong pullback...is this the one and if so, is it in progress. Don't know.

- As I stated in my DXY post, the following:
So if the USD wants to pump, it will likely effect BITCOIN and the stock markets.... Just like previous years where January or early Feb, BTC and stocks drop.

- I'm not buying anything until I see some evidence that this has stopped, hence I will be watching the 8 Hrly chart for evidence on the 10/20 ema as well as the 4 hrly.
If there is a bullish candle or structure in the lower time frames, then back to leverage trading.

- ETH is my focus as it held up good and is likely to bounce better than BTC.

SUMMARY:
I really don't have much at this point but to sit back and observe.
I have not sold anything yet and I think that time will be approaching (BTC\ETH bag, nothing else).
My strategy at this point is to accumulate more BTC and ETH and use other alts to do it. These 2 are king and the others, if you believe in a project, then hodl if you got it early.

That's all I have at this point.

Cheers,
S.SAri

Macro daily

Current DXY daily price action

DXY POST

15 min chart

Komen:

current price action based on this fib channel. You can clearly see where the rejections are occurring. I wish I was a awake to do some quick shorts as price decends.

Komen:

Can this be the reversal structure taking place

Komen:

I bought the dip as they say, close to this support line. I have a fractal where we range sideways to only break that yellow zone resistance to potentially go and make new highs.

Komen:

Found support on the daily 20 EMA which has confluence to a prior resistance level.

Komen:

$37k is the target

Komen:

Komen:

Looking at the 1 hrly, looking for the HH and HL to continue otherwise red flag.

Komen:

Komen:

2 scenarios
a) Reaccumulation structure
b) H and S structure