38K Bitcoin Analysis (1hr)
First post.
Bitcoin is currently consolidating after a monster moves upwards to 40K.
If the recent past is an indication I'm expecting bitcoin to consolidate in a continuation pattern upwards and then bounce off the 50EMA (green line) like the two previous times at 32K and 34K after a big pump move upwards.
I believe this would be consistent with the Wyckoff accumulation model that has been going around:
Another longer-term analysis would be the falling wedge pattern over the last two months
Regardless of that, this analysis is on a smaller time frame, I simply expect bitcoin to repeat the patterns it made previously on the way up to 40K and create a bounce up once the 50 EMA rises to meet price action at approximately 39K to propel us to the 42K region. A stop loss should be placed below the 50 EMA buy a reasonable degree.
The EMA's used are the 9,21,50,200,800
Caveat: there is a possibility of a drop-down to the 36K region for a last point of supply at that resistance from the previous peak
Bitcoin is currently consolidating after a monster moves upwards to 40K.
If the recent past is an indication I'm expecting bitcoin to consolidate in a continuation pattern upwards and then bounce off the 50EMA (green line) like the two previous times at 32K and 34K after a big pump move upwards.
I believe this would be consistent with the Wyckoff accumulation model that has been going around:
Another longer-term analysis would be the falling wedge pattern over the last two months
Regardless of that, this analysis is on a smaller time frame, I simply expect bitcoin to repeat the patterns it made previously on the way up to 40K and create a bounce up once the 50 EMA rises to meet price action at approximately 39K to propel us to the 42K region. A stop loss should be placed below the 50 EMA buy a reasonable degree.
The EMA's used are the 9,21,50,200,800
Caveat: there is a possibility of a drop-down to the 36K region for a last point of supply at that resistance from the previous peak
הערה
So I accidentally labeled this post as short, when it really is a long position. It is safe to say that it definitely played out in my direction. It followed the moving averages strategy I outlined but not the drawing I drew (the drawing was assuming the movement of the moving averages and was more crystal ball bullshit)
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.