Btc head and shoulders
Retest of neckline
We could see a drop from this point.
The monthly time frame 8s showing a high wave of candle on the close of April ni
The weekly shows a bearish ingulfing pattern with a pullback
Strong resistance at 61000.
The daily shows head and shoulder pattern
We also see a accending wedge pattern retest if you want to look at it from that angle
The highs on btc is not indicating strong bullishness at this point.
We also have to remember the failure of btc to break the price at 65000
The candle patterns formed at this level shows that there was equal force of bulls and bears indicated on 5min to 15min time frame by rare doji with out wicks top or bottom.
We had a drop and pullback after words that resulted in a hanging man that is visible on 1min to 4h time frame that lead to a bearish ingulfing
So I would say between 61000 and 64000 is the critical zone for a bullish break out of importance for long term traders.
THE pullbacks and rally on btc is very frequent could also be a sign of a possible build up of momentum for a bullish run or just a sign that we have a top and a drop to lower levels is coming
The COD report shows that the amount of shorts has increased in the overall stats between commercial and none commercial traders.
The adx is showing a bullish crossing and a change of strenght form bearish to bullish.
On the daily.
The ichimoku cloud indicated that the bottom of the cloud acted as support pushing the market back above it
The kensan and kunjin is also still mostly bullish above the cloud.
The doji we see is forming above the cloud testing outside the formation.
We see alot of signals showing its a time to wait again and not make rash decisions.
Just want to say the hammer was a clear sign of a bullish up sign on the daily that formed the double bottom last week and it also expanded on a base all clear signs of a bullish breakout that I did not notice because of sells market bias but we learn.
Trade advise is wait for the breakout zones before entering a trade
We are currently in the middle of box range and there is still Room to move up before retest.
We need strong bearish signal and confirmation before a sell entry con be considered if market breaks above wait for break out zone between 62000 and 64 000
TRADE SAVE ALL
HOPE MY I PUT HELPS EVEN A LITTLE
Retest of neckline
We could see a drop from this point.
The monthly time frame 8s showing a high wave of candle on the close of April ni
The weekly shows a bearish ingulfing pattern with a pullback
Strong resistance at 61000.
The daily shows head and shoulder pattern
We also see a accending wedge pattern retest if you want to look at it from that angle
The highs on btc is not indicating strong bullishness at this point.
We also have to remember the failure of btc to break the price at 65000
The candle patterns formed at this level shows that there was equal force of bulls and bears indicated on 5min to 15min time frame by rare doji with out wicks top or bottom.
We had a drop and pullback after words that resulted in a hanging man that is visible on 1min to 4h time frame that lead to a bearish ingulfing
So I would say between 61000 and 64000 is the critical zone for a bullish break out of importance for long term traders.
THE pullbacks and rally on btc is very frequent could also be a sign of a possible build up of momentum for a bullish run or just a sign that we have a top and a drop to lower levels is coming
The COD report shows that the amount of shorts has increased in the overall stats between commercial and none commercial traders.
The adx is showing a bullish crossing and a change of strenght form bearish to bullish.
On the daily.
The ichimoku cloud indicated that the bottom of the cloud acted as support pushing the market back above it
The kensan and kunjin is also still mostly bullish above the cloud.
The doji we see is forming above the cloud testing outside the formation.
We see alot of signals showing its a time to wait again and not make rash decisions.
Just want to say the hammer was a clear sign of a bullish up sign on the daily that formed the double bottom last week and it also expanded on a base all clear signs of a bullish breakout that I did not notice because of sells market bias but we learn.
Trade advise is wait for the breakout zones before entering a trade
We are currently in the middle of box range and there is still Room to move up before retest.
We need strong bearish signal and confirmation before a sell entry con be considered if market breaks above wait for break out zone between 62000 and 64 000
TRADE SAVE ALL
HOPE MY I PUT HELPS EVEN A LITTLE
