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$BTC Update the trend of BTC!
As you know, in the post a few days ago, I mentioned that BTC has formed a very clear peak on both the daily and 3-day frames, so an important note we need to observe when the price moves is to see if BTC forms another peak or not, so we can prepare for the scenario where BTC runs according to the double peak model.
And until now, I am seeing BTC showing signals of a double peak model with the neckline around 91k9. However, for this model to be confirmed, BTC needs to break strongly through or close the daily candle below the 91k9 area, and then if there is a retest of this area and BTC still does not close the daily candle above it, the double peak model will be officially confirmed and BTC will fall into a subsequent downtrend with a basic target around the 85k area. Please note the conditions I mentioned for the double peak model to be confirmed. Otherwise, BTC will turn into a double bottom model after BTC returns to around the 91k area.
However, looking at the candlestick shape on the weekly frame, I still lean towards the scenario that BTC will decrease, my friends. Sooner or later, BTC will have a drop to the 8xk area.
If you look at the larger frame, you will see BTC is sideways within a large range from the 92-98 area. The fact that BTC is sideways, combined with BTC.D decreasing, has helped altcoins grow very well. Money is still being transferred from BTC to altcoins. Depending on greed, risk tolerance, and each person's position, you will have your own plan to take profits.
P/: My short BTC order with a stop loss of over 200 has already moved over 3k when BTC had a drop to the 94 area yesterday.
As you know, in the post a few days ago, I mentioned that BTC has formed a very clear peak on both the daily and 3-day frames, so an important note we need to observe when the price moves is to see if BTC forms another peak or not, so we can prepare for the scenario where BTC runs according to the double peak model.
And until now, I am seeing BTC showing signals of a double peak model with the neckline around 91k9. However, for this model to be confirmed, BTC needs to break strongly through or close the daily candle below the 91k9 area, and then if there is a retest of this area and BTC still does not close the daily candle above it, the double peak model will be officially confirmed and BTC will fall into a subsequent downtrend with a basic target around the 85k area. Please note the conditions I mentioned for the double peak model to be confirmed. Otherwise, BTC will turn into a double bottom model after BTC returns to around the 91k area.
However, looking at the candlestick shape on the weekly frame, I still lean towards the scenario that BTC will decrease, my friends. Sooner or later, BTC will have a drop to the 8xk area.
If you look at the larger frame, you will see BTC is sideways within a large range from the 92-98 area. The fact that BTC is sideways, combined with BTC.D decreasing, has helped altcoins grow very well. Money is still being transferred from BTC to altcoins. Depending on greed, risk tolerance, and each person's position, you will have your own plan to take profits.
P/: My short BTC order with a stop loss of over 200 has already moved over 3k when BTC had a drop to the 94 area yesterday.
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BTC
96,480.23
+0.34%
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