I have been looking and listening to many people and their ideas and you get many conflicting views and they all have logical arguments. However one has to be selective o peoples ideas because we don't know what their success rate is, unless you follow them for years. And like many, I have not been doing this for so long to know who is good out there and how draw on experience.
Hence the chart and reasons below are bullish bias based on my thoughts incorporating what I took in from others as well. So....
Observations: > As per chart, I have market key support and resistance pivot points, combining them looks like BTC is in a upward channel > Key support areas had some confluence with fib. levels at the Macro level (pink fib lines) > Weekly candle sticks where used to capture key resistance levels, and I have them in pink, at 9520 and 9700. I see them as strong resistance levels for this current run. > Using the 4 HRLY chart, we have the 10 and 20 EMA trail and one can observe how trading off this path worked so far. > I assumed that there will be a pullback at a key resistance level, and if its 9500's range or 9700's range, it will give that pattern for a pullback that is needed and usually happens > I noted that the previous impulse had 3 short waves and on this impulse wave, we had 2. 9500s or 9600s will give the 3rd wave in that impulse? > Short term, BTC dominance looks like it will go up (in the 4 HRLY chart). > Possible bearish div. on the 4 HRLY to push the price into the 8900 to 9100 range. Or more.
My thoughts, > Place a sell ranging from 9500 to 9700. > Place buy orders based on the 4 HRLY or 8 HRLY chart using the 10 and 20 EMA range for an entry. However these have conditions that one must know what to look out for. Do not enter if you see bearish div. in the air. > At this point, tentatively 8900s and low 9000s range makes sense as it has confluence with these 10\20 EMAs on the 4 HRLY chart and the fib. level as per chart.
Please don't forget to give me a tick\like, as I would appreciate it.
Regards, S.Sari /CryptoProspa (for my reference > Macro.charts)
Other crypto's of interest for me. > ADA > TRX\BTC > EOS > XMR
Weekly chart and how I derived some numbers
Daily chart
노트
What's happening, the bearish divergence is taking place. If things move well towards the 9000 range, it could be another nice setup to enter. Let's see how this develops