I don't know if this is valid C&h.
Is this valid? or a valid joke?🤡
I just recently plotted the lower 4hr frame trendline & I remember that I also plotted a macro trendline so I tried putting them all together and then this gives me a new conclusion
hitting the 200EMA doesn't mean we are already in a downtrend
sometimes hitting the EMA200 is also like Bears asking a question for bulls can we go down now?
and if yes the answer will be a clear breakdown below EMA200 meaning we are ready to go down.
or
No, we are not allowing that, and a rejection at EMA200 will give us DATA, which is currently happening.
what will happen next?
well, bears will try to ask the same question again on our EMA200 meaning they are going to try to break EMA200 again
and if ever this breaks then this is the conclusion of a confirmed bearish MACRO frame.
also, I forgot that I plotted a macro-historical analysis of BTC halving in which 53kish precisely gives us a strong rejection
the intersection of trendlines also formulates a strong indication that 53k is a solid buy zone.
53k has also a solid fair value gap on the daily and weekly frame, the reason of a strong rejection + backed by trendline supports
and a 4hr divergence that I mention on my old post which is currently playing
and a bullish divergence which Tp1 hits creates a huge reaction bounce.
all confluences started to be linked.
BUT AGAIN LETS STILL CONSIDER THE MT.GOX REPAYMENT A POTENTIAL SELL OFF.
AND OUR HARMONIC DLEGS MENTION ON MY OLD POST.
for now we are riding a rejection but until when?
My answer is "I DON'T KNOW".
DISCLAIMER: NOT FINANCIAL ADVICE , FOR EDUCATIONAL PURPOSES ONLY
