Two Comma Pauper
Two Comma Pauper 2 minutes reading from Bitcoin

Price Analysis: Commodities Market Report: $BTC Market Report

As promised, here's my BTC Market Report.

Enjoy, fellow Gambloooors

Weekly: This is showing a TK disequilibrium due to price being overextended to the downside. We are also seeing the lagging span attempt to cross over price, which is an indication of *potential* reversal.

Weekly cont.

If we really begin to rally, we can expect price to try cross through the Kumo (cloud) twist. However I'd expect rejection from the cloud which forms a dynamic resistance level.

This could be the formation of a HTF HL.

Daily

The daily has set a (barely) HH, that said, the cloud is in full bullish config, with the cloud narrow and angling upwards which denotes underlying momentum.

Main support and a potential long entry is 19.1K. Invalidation would be acceptance within the cloud.

Much the same as the Daily, the 12H cloud is in full bulltard mode, with the widening and flattening cloud indicating consolidation.

Main support here and long entry is the Kijun, also at 19K. Muh confluence.

Conclusion:

Pretty much all timeframes are bullish, and sidelined traders might get a chance at an entry should we form a HL and there is no indication of trend exhaustion yet.

This post is based on this twitter thread.

Comments

Please login to comment.