THE CATALYST, THE SENTIMENT AND THE UGLY MARKET. STARRING BITCOIN -0.69% .
OVERVIEW, COMING TO A SIGNIFICANT POINT, SENTIMENT IS STRONG ALTHOUGH WITHOUT A TANGIBLE CATALYST TO FOLLOW PRICE ACTION IT WONT BE ENOUGH TO END THE BEARISH TREND . AS IT STANDS OVER THE COUNTER BUYS ARE STRONG ALTHOUGH A PRICE BREAKDOWN TO A NEW BOTTOM IS THE CATALYST MOST LIKELY TO TIMELY END THE BEARISH TREND IN WHICH FOLLOWING NON PRICE ACTION CATALYSTS AND FUTURES MAY ASSIST IN BREAKING RESISTANCES.
TD -0.42% SEQUENTIAL - ONLY 9-13 VISIBLE. S&R BASED ON PREVIOUS AND PSYCHOLOGICAL S&R AND VPVR. WATCHING LONGS V SHORTS AND ASSOCIATED CORRELATIONS. 50, 100, 200 EMA RESISTANCE. ICHIMOKU CLOUD RESISTANCE. 20, 60, 120, 30 LONG TERM TREND LINE RESISTANCES INCLUDING LOG. WATCHING LONG TERM DESCENDING TRIANGLE BREAK OUT INCLUDING LOG IF BREAK UP.
IF BREAK DOWN, VPVR POC AND DESCENDING TRIANGLE SUPPORT AT APPROX. 6340, 6000 (PARTIALLY PSYCHOLOGICAL), 5784, 5000 (PARTIALLY PSYCHOLOGICAL), AND 4358 AS THE POSSIBLE ROCK BOTTOM.
IF BREAK UP, RESISTANCE FROM DUAL DESCENDING TRIANGLES AS LOG MUST BE ACCOUNTED FOR. VARIABLE RESISTANCE FROM THE 100 & 200 EMA AND CLOUD INCLUDING 6885, THEN PREVIOUS RESISTANCE AT 7410, 7739, 8000 (HIGH VALUE NODE & PARTIALLY PSYCHOLOGICAL). LONG TERM; 9988 - 10000, 11789-12000
FIBONACCI LEVELS AND VPVR ASSOCIATED WITH VISIBLE RANGE OF CHART. CONFLUENCE OF SUPPORT AT FIB .786 AND 5784 WITH OTHER VARIABLE AREAS OF CONSIDERATION.
THIS IS AN OVERVIEW WITH REFERENCE TO SWING TRADING
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