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Wise Analyze
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Dollar Index continues its travel to 2022 close. 1.5 month past since original green drawing. Adding orange scenario with breakout towards 104.8-105.5 Crypto market doesn't yet reflect that movement as many altcoins are pumping and also not meeting much sell pressure. So either its a pre-dump pump, or #DXY will get rejected here. This week we will see. #DollarIndex #USD

Dollar Index continues its travel to 2022 close. 1.5 month past since original green drawing. Adding orange scenario with breakout towards 104.8-105.5

Crypto market doesn't yet reflect that movement as many altcoins are pumping and also not meeting much sell pressure. So either its a pre-dump pump, or #DXY will get rejected here. This week we will see.

#DollarIndex #USD

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#Bitcoin target zone for dead cat bounce achieved ✅ From here we step into unpredictable stage where $BTC will either pump through that level or get rejected and drop back to the bottom with high chances to break down. I won't bet on any of scenarios at this stage, but want to point out that on week/month timeframe #BTC remains within uptrend. Yes, last two weeks were bearish, but the uptrend remains untouched. On day timeframe price moves sideway since beginning of March, so its a choppy price action taking lots of trader's blood. In such environment the only working strategy is to buy the bottom and hold it to the top of the channel, until channel is broken in one of the sides. If broken down, it is easy to exit at breakeven on re-test (with DCA). No CME gap formed. SMA20 on week timeframe is around 53757 next week. That is the nearest target for channel break down and deeper correction. Nearest liquidity pools: above - 66980 / 68450 / 71539 (most attractive zone) below - 64630 / 61490 / 58200 SR levels to watch PA: 🔸73881 - ATH 🔸71363 - March close 🔸69362 - week close 🔸67260 - week close 🔸66400 - Nov'21 dump week high 🔸64300 - February high 🔸63178 - week close 🔸61203 - Feb'24 close Trend: D ▶️ W 🔼 M 🔼 🤑 F&G: 74 < 72 < 72 < 79 < 76
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#Bitcoin finally returned back to the bottom of the range. No matter how often I've been repeating that scenario possibility, it caught me by surprise yesterday, as I was expecting it to happen on Monday. So now that the move is done, what is left for the next week open? As I wrote before, stock indices closed Friday with a dump, looking heavy on week timeframe, which led me to an idea, that chances for correction are very high now. Maybe Monday will open with a short term dead cat bounce. If happen, that may push #BTC up to the middle of the channel around same 67k. Although it can get there within Sunday to avoid the gap (CME Friday close at 67445). SMA20 on week timeframe is moving up and should be around 53-54k next week. That is the nearest target for deeper correction. Nearest liquidity pools: above - 68450 / 71550 below - 63350 / 61490 / 58200 SR levels to watch $BTC PA: 🔸73881 - ATH 🔸71363 - March close 🔸69362 - week close 🔸67260 - week close 🔸66400 - Nov'21 dump week high 🔸64300 - February high 🔸63178 - week close 🔸61203 - Feb'24 close Trend: D ▶️ W 🔼 M 🔼 🤑 F&G: 72 < 72 < 79 < 76 < 78
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#Bitcoin dropped back to the middle of the range. Sharp move with high volume generation. On its own it can give a bounce back to 68450-69360 zone within weekend. Next week high chances for #BTC price to continue in the same direction towards the bottom of the range at ~61-63k, although it doesn't really has to happen on Monday. First move on week open may be in the opposite direction of where it ends. And since stock indices also dumped hard on Friday, they all may experience a "dead cat bounce" effect. As pure technician I prefer to ignore news noise, but as I wrote yesterday, I couldn't avoid all the war moods flooding social media and the fact that stock Indices look heavy. Correlates with $BTC after-halving correction. So prefer to stay cautious. Nearest liquidity pools: above - 69600 / 70300 / 71500-71800 below - 65000 / 64500-63000 (wide range with not much volume concentrated anywhere specifically) SR levels to watch PA: 🔸73881 - ATH 🔸71363 - March close 🔸69362 - week close 🔸67260 - week close 🔸66400 - Nov'21 dump week high 🔸64300 - February high 🔸63178 - week close 🔸61203 - Feb'24 close Trend: D ▶️ W 🔼 M 🔼 🤑 F&G: 72 < 79 < 76 < 78 < 80
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#Bitcoin almost cleared the lowest liquidity zone I've marked out yesterday and bounced 👌🏼 That price action correlated with Nasdaq move, although the last one looks slightly better than $BTC now. And Dollar Index closed yesterday with breakout from rising wedge (mostly caused by EUR dump). So what does it tells us? It says that market is in unpredictable state. Stocks and BTC move sideway in choppy range, while DXY constantly giving hints on its bullishness, while not totally killing the market, as its bullishness is mostly connected with other fiat currencies weakness. Now #BTC under March close which act as SR. Breakout will lead to another re-test of range top. And for no special reason I feal that we should see that happen. And ~69850 act as support that divide chart between that top re-test and drop back to the bottom. So short term bullish while above, yet we may see more choppiness even within this narrow range. Nearest liquidity pools: above - 71500-71800 / 73150 below - 70330 / 69515 / 68600 SR levels to watch PA: 🔸73881 - ATH 🔸71363 - March close 🔸69362 - week close 🔸67260 - week close 🔸66400 - Nov'21 dump week high 🔸64300 - February high 🔸63178 - week close 🔸61203 - Feb'24 close Trend: 4H 🔼 D ▶️ W 🔼 M 🔼 🤑 F&G: 79 < 76 < 78 < 80 < 76
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#Bitcoin dipped to the middle of range and bounced. As you can see from week chart situation looks pretty different from what was yesterday. That is a reminder for you always keep in mind and monitor higher timeframes before going into panic 😎 Now we should watch how $BTC will react to clearing liquidity at ~71500-71900 - that is the nearest and most dense area which will either be used to realize profits from dips taken under 68k or as liquidity to push price even higher. Dollar Index closed yesterday with strong bullish bounce from March open at 103.72 and looks bullish on Month, Week and Day timeframes, although it has left a wide gap at 4H. So even with short term pullback, it possess danger of pumping higher. Keep that in mind - #BTC bullishness has huge support from halving event, but still is under pressure from Dollar. Nearest liquidity pools: above - 71500-72000 / 73150 below - 69885 / 68600 / 67280 Nearest levels to watch PA: 🔸73881 - ATH 🔸71363 - March close 🔸69362 - week close 🔸67260 - week close 🔸66400 - Nov'21 dump week high 🔸64300 - February high 🔸63178 - week close 🔸61203 - Feb'24 close Trend: 4H 🔼 D ▶️ W 🔼 M 🔼
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