Still in the forecasted Limbo. Now let's look at it upside down.
Actual scenario on daily TF: after a (suppressed) technical bounce and a pullback to the edge of the broadening descending wedge, price still currently in the 52-47k "limbo" area i forecasted in previous analysis, well over a month ago.
Price is still above some "scissors" dynamic supports area (see the dynamic supports), as well as above FIB 0.618 of the whole uptrend since 2019.
Yet it sits below two key moving average: MA20/W (red) and MA50/W (blue), which denotes a clear loss of momentum.
This is a pretty mixed and undecisive scenario.
Now i'd propose to doublecheck it on an inverted scale, looking for further hints.
Why ? Because it helps "neutralizing" our natural "gravity" perception bias.
That's it, upside-down:
The comparison of the two charts seems effective in telling that IF >48200$ (MA50/W - blue) is achieved once again (on volume) then a spike to 53000$ (MA20/W) or more would still be likely.
It would make a lot of sense, actually.
Failing that nearest support belt would be around the broad 44000$ mark (see FIB + scissors support).
Will comment more.
Price is still above some "scissors" dynamic supports area (see the dynamic supports), as well as above FIB 0.618 of the whole uptrend since 2019.
Yet it sits below two key moving average: MA20/W (red) and MA50/W (blue), which denotes a clear loss of momentum.
This is a pretty mixed and undecisive scenario.
Now i'd propose to doublecheck it on an inverted scale, looking for further hints.
Why ? Because it helps "neutralizing" our natural "gravity" perception bias.
That's it, upside-down:
The comparison of the two charts seems effective in telling that IF >48200$ (MA50/W - blue) is achieved once again (on volume) then a spike to 53000$ (MA20/W) or more would still be likely.
It would make a lot of sense, actually.
Failing that nearest support belt would be around the broad 44000$ mark (see FIB + scissors support).
Will comment more.
הערה:
Previous analysis:
הערה:
We may have a diamond formation.
Watch it.
Watch it.
הערה:
Trying to breakout.
Hopefully we can get a local diamond bottom.
Let's see.
Fingers crossed.
Hopefully we can get a local diamond bottom.
Let's see.
Fingers crossed.
הערה:
Definetely a diamond, now visible even in higher TF:
Either diamond botom or half staff.
Prepare for a likely cumbersome breakout, as usual for diamonds.
Either diamond botom or half staff.
Prepare for a likely cumbersome breakout, as usual for diamonds.
הערה:
Zooming a bit:
Very pretty.
Very pretty.
הערה:
RSI/D:
