BTC - a touch off on the timing of this ceiling, but all that divergence on the 4 hour means we really need a decent correction for the past couple of days. Note also the declining ADX gradient and divergence, indicating tapering off of the upward trend, alongside declining volume. Price has bounced off the bottom of the 1 day Ichi cloud without the momentum to make it through yet. The 1 day also shows the same divergence and weak ADX trending.
Excuse my colourful pitchforks (they work for me!) - the large one left to right I drew in January and was working well, we've just popped out the top of it 1.272 so that trend may now be broken. The small one I drew after 3 and continues to hold well showing price movement struggling to get above the median.
I've had C at 10k-10.3k hitting a new trendline but this is an optimistic and bullish estimate really. This pattern could constitute a double top or Head and Shoulders which if it plays out may go to 7.2k. I think this is unlikely as sentiment is relatively positive at the moment but shouldn't be ruled out as it also sits near the longer term orange trend line.
And just for something more www.tradingview.com/chart/Y34JIR9A/
Excuse my colourful pitchforks (they work for me!) - the large one left to right I drew in January and was working well, we've just popped out the top of it 1.272 so that trend may now be broken. The small one I drew after 3 and continues to hold well showing price movement struggling to get above the median.
I've had C at 10k-10.3k hitting a new trendline but this is an optimistic and bullish estimate really. This pattern could constitute a double top or Head and Shoulders which if it plays out may go to 7.2k. I think this is unlikely as sentiment is relatively positive at the moment but shouldn't be ruled out as it also sits near the longer term orange trend line.
And just for something more www.tradingview.com/chart/Y34JIR9A/
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