Mid term bias : Daily candle gives a lot of clue !
Hello all, happy Saturday and in today's weekend podcast, I will give you an update about bitcoin's movement once again.
Bitcoin's drop is currently become a trending topic in today's crypto universe and a lot of arguments I see occurs in this current market condition. some analysts say they are bearish and the others say they are bullish to see a bounce. And which side of opinion that I am right now? let's see!
Using the body to body method to draw the trend line, I found an interesting fact in this trend line. Do you remember my previous post when I said there are 3 phase of break out strategy? If you don't, just scroll up and read some of my latest ideas. Based on my opinion, we just finish the phase 2 break out strategy and it is confirmed with the wick that has occur yesterday.
I classified phase 1 when the initial break down occur on August 21st and we have a little pull back since August 30th before a little rally until $10933 region that formed a huge wick yesterday, I see this as the 2nd phase of break out strategy. I believe that very soon we will see the bears attack the bulls again and those 2 white region will become the targeted area for short.
Smaller time frame perspective can be seen on update section.
Thank you
Bitcoin's drop is currently become a trending topic in today's crypto universe and a lot of arguments I see occurs in this current market condition. some analysts say they are bearish and the others say they are bullish to see a bounce. And which side of opinion that I am right now? let's see!
Using the body to body method to draw the trend line, I found an interesting fact in this trend line. Do you remember my previous post when I said there are 3 phase of break out strategy? If you don't, just scroll up and read some of my latest ideas. Based on my opinion, we just finish the phase 2 break out strategy and it is confirmed with the wick that has occur yesterday.
I classified phase 1 when the initial break down occur on August 21st and we have a little pull back since August 30th before a little rally until $10933 region that formed a huge wick yesterday, I see this as the 2nd phase of break out strategy. I believe that very soon we will see the bears attack the bulls again and those 2 white region will become the targeted area for short.
Smaller time frame perspective can be seen on update section.
Thank you
This is the 4 hours perspective, phase 2 ended up with hanging man candle on the top of phase 2 and near the resistance trend line.