"Don't be afraid, don't be greedy, be cautious"
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Every day I will try to analyze BTC so that everyone, especially new friends, can have a more comprehensive view of BTC. To avoid too much clutter in the frame, I have also removed all indicators. And I only keep the most visible things and will also try to express them as simply as possible.
The three images are three time frames from H1 to D1.
All three frames show the struggle between buyers and sellers but are two different pictures:
- With the H1 frame: Looking at the green arrow, the price has approached FB 0.236 / quite important and has recovered. However, the current price is still below the HMH line of PFD and has not successfully broken out.
- With the H4 frame: The price has broken out of the HMH line or the PFD support line. But immediately it has recovered and shows signs of wanting to break out. Note that in the two red candles, the breakout has low volume.
=〉 H1 and H4 both indicate that the price has broken out of the PFD support and now the support line has become a resistance line. The good scenario is that the price will break out and after two unsuccessful breakouts, the price will recover. The bad scenario is that the price does not surpass the HMH of PFD and continues to go down.
- The D1 frame: currently, the price is holding steady above the support line. However, the D1 frame from yesterday had a candle that really doesn't look good, although the volume is very small compared to the candles from previous days. Both buyers and sellers are very hesitant in yesterday's candle, although sellers seem to have the upper hand.
Therefore, I predict that whether the price goes up or down will likely be decided very quickly in the next few days. Maybe tonight or tomorrow.
Happy Sunday!!