BTCUSD - The odds are high for 40.5k in the next days...
17.01.2022, 12PM UTC --- Hello traders, just a quick update on BTC to warn you that several indicators reveal that the price is likely to go down to 40.5k, as soon as tomorrow possibly. I'm not saying I'm short on the mid/long-term, it is rather a short-term analysis. The chart's scale is 1D, feel free to zoom in to better see what's going on with the BBs.
As you can see on the Phoenix Ascending, the fast green MA and red RSI are below 50, the white energy is going down and the blue least square MA is already very low. When looking at lower time frames (4hr, 2hr, 1hr), the three are also (well) below 50. This enables us to safely assume that a breakout to the upside just won't happen in the next days, and a move to the downside is much more probable.
Also, it's interesting to note that over the previous days the PA could be forming what looks like a Gartley XABCD pattern. Using the typical values for that pattern (notably BD= 161.8% of AB), and looking at the lower blue 1.618sd bollinger band (please zoom on the chart to see better), it looks like 40.5k is the target level for the next few days. What will happen after that, we cannot know, it remains to be seen. If the XABCD pattern ends up forming nicely, BTC could go back up and try 45/46k, but it surely needs to correct back down first and find momentum. Thanks for reading,
As you can see on the Phoenix Ascending, the fast green MA and red RSI are below 50, the white energy is going down and the blue least square MA is already very low. When looking at lower time frames (4hr, 2hr, 1hr), the three are also (well) below 50. This enables us to safely assume that a breakout to the upside just won't happen in the next days, and a move to the downside is much more probable.
Also, it's interesting to note that over the previous days the PA could be forming what looks like a Gartley XABCD pattern. Using the typical values for that pattern (notably BD= 161.8% of AB), and looking at the lower blue 1.618sd bollinger band (please zoom on the chart to see better), it looks like 40.5k is the target level for the next few days. What will happen after that, we cannot know, it remains to be seen. If the XABCD pattern ends up forming nicely, BTC could go back up and try 45/46k, but it surely needs to correct back down first and find momentum. Thanks for reading,
Nota
I have quickly drawn a short potential continuation of the white energy for the next two days (what looks probable to me, as oscillators in lower time frames are already low)Nota
19.01, 10PM UTC update: downward pressure still prevailing despite two weak and failed attempts to reclaim 43k. In the 4hr tf, LSMA still very low (21), and 1D tf even more bearish with green at 13, LSMA now crossed below 20 at 17, RSI at 30 and energy in free fall as well. Stock market in free fall, as NASDAQ closed below important support level heading below 15k and DowJones is heading below 35k. TLDR: don't get fooled by lower time frames, we're still looking at 40k end of the week. Perhaps lower.Trade fechado: objetivo atingido
21.01, midnight UTC: target reached, BTC dangerously approaching support, stock indices closed below crucial supports: sign of weakness is looming, please refrain from hastily buying the dip, things could get ugly for bulls if we break below 40k.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.