Pierre
Pierre 3 minutes reading from Bitcoin

Betting On $18,000 or Higher? (Op-Ed)

BTC - H4

Similar situation than ETH: - Facing strong confluence of H4 downtrend (same since 20,750) and horizontal resistance, - _Resistance_, if/when flipped I'd aim at 18,000-18,250 for potential spike, - NYO in an hour with DXY approaching D1 200 EMA, should be focus today.

So again, tldr: - Facing strong confluence of horizontal + H4 downtrends we've been stuck below since recent local top, - NYO in an hour +DXY approaching potential bounce zone = IF looking for longs, no FOMO here.

Focuses for the day: - BTC & ETH H4 downtrends, - DXY D1 200 EMA

A play could be: - Wait to see DXY reaction and US indexes post open, - IF BTC & ETH strong enough to break through H4 downtrends + horizontal (17,000-17,100 && 1,285-1,300ish) resistance then try to catch a bigger bounce, - Take profits maximalist at any sign of weakness.

In this context, signs of weakness could be: - DXY bounce, - US indexes losing LTF trends, - BTC & ETH unable to hold H4 trend on retest from above after breaking them (similar to their incapacity to flip H1 trends post cash after Friday bounce last week).

So yeah, most likely a lot of babysitting and position management if you're willing to play in these market conditions.

A lot of things to monitore, need to accept losses and take profits rapidly, need to keep an open mind and don't fall into perma bear/bull thinking.

The flow of the market has changed since last week, have to adapt and remain as fluid as possible, if unable to manage positions actively you most likely have little to no business trading this right now.

Was supposed to be just a chart, but once again I can't help and end up doing a never ending thread lmao.

And finally for the blind homies, orange coin still strugging below resistance unless it wasn't clear enough yet.

And yes, as it's at a pivotal area and confluence of resistance it is well indeed, up or down from here lmao. Tried to gave some focuses to have today to act if willing to trade.

This post is based on this twitter thread.

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