Update $BTC on November 9:
Yesterday continued to be a correct observation of mine when BTC reached a new ATH. If analyzed on the 4H frame, I am sure I would have shorted it yesterday, as the signals were weak and deteriorating. However, the larger frames are still looking very good, so BTC rising is standard.
- D1 Frame: A set of 3 candles has appeared. Usually, after this set of 3 candles, a red candle or a green candle will appear, but with a lower bottom than the previous candle (75x), so I predict that today and in the coming days, BTC will have a slight pullback to the 74-75 zone.
When it reaches the 75x zone, I will also start Long again, DCA more at 74 - 73 for safety.
Of course, this chart will no longer be valid if BTC bullruns, as it will break all technical patterns.
- D4 Frame: Today, a new D4 candle begins, which will create a peak/bottom. Currently, the price is also outside the BB range, so I think the bottom of this D4 candle will be in the 75x range or lower.
This morning, BTC had a slight pullback to the 761 range, and this price is still outside the BB range, so I think this cannot be the bottom of this D4 candle unless this D4 candle makes BTC shoot straight up to the 8x range, which would then make sense.
=> My assessment:
- If BTC does not continue to rise straight up to the 8x range with a frequency of new peaks higher than yesterday's peak by 1-2k/day, then I am certain that BTC in the next 2-3 days will pull back to the 74-75x range, possibly as low as the 73x range.
- Everyone should consider Long positions at lower levels, which is much safer; shorting is indeed like playing with fire because you don’t know where the stop loss will be in this very strong price increase of BTC.
Everyone should refer and come up with their own strategy ✊
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