The general idea is that BTC is slowly running out of steam and and overdue correction is inbound.
I'm expecting a 27-30% correction on BTC back to the Kijun-sen / Median line, however it could escalate further.
We've had multiple 'Alt seasons' within the past couple of weeks, and some large increases in strong alts - showing that they are more than capable of the runs BTC has had.
Idea is charted on the daily time-frame.
Potential support zones:
Sentiment compared to previous upper limit / new channel breaches:
4hr time-frame - Ascending wedge completion:
Potentially acting as a catalyst for the correction.
Time between previous MACD signal crossovers in days & hours (h4 time-frame within the last month).
2, 1.16, 2.4, 2.20 - the average of which is 1.965 (2 days).
We have two signal crossovers remaining, approximately four-six days.
For my personal / historical records, still learning TA.
I'm expecting a 27-30% correction on BTC back to the Kijun-sen / Median line, however it could escalate further.
We've had multiple 'Alt seasons' within the past couple of weeks, and some large increases in strong alts - showing that they are more than capable of the runs BTC has had.
Idea is charted on the daily time-frame.
Potential support zones:
Sentiment compared to previous upper limit / new channel breaches:
4hr time-frame - Ascending wedge completion:
Potentially acting as a catalyst for the correction.
Time between previous MACD signal crossovers in days & hours (h4 time-frame within the last month).
2, 1.16, 2.4, 2.20 - the average of which is 1.965 (2 days).
We have two signal crossovers remaining, approximately four-six days.
For my personal / historical records, still learning TA.
Dagangan aktif
Smaller timeframes:We've just had a bearish TK crossover with a bearish future very close to the upper limit support line. I believe the move has started.
Dagangan aktif
The BCC release on Coinbase has started the initial drive down, lets see what happens over the next few days when the dust settles.Dagangan aktif
Here we go! BTC showing strong support on the daily chart at the median line, this could be the lower limit for now, we seem to be riding it nicely.Daily:
30min:
Nota
Nota
I think the chart to watch will be the 4hr, there's currently a tug of war going on with price action. The RSI hasn't really dipped too much into the oversold zone yet so I think we could see it dip further to 10k or so.Dagangan ditutup: sasaran tercapai
Successful
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.
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.