Looking for a long on audio here if we change market structure above the 618. On top of that the Bitcoin pair will be bouncing off major support on bullish divergence.
Why am I looking for longs? Because I laid out my plan 3 months ago. I havenât bought any crypto in over 6 months since the March top. Do you have the patience and discipline to do nothing for half a year? If we turn here, Iâm expecting a solid run on alts until they hit their zag zones, then Iâll reassess.
Follow the unbiased data. There's no bull or bearâonly the right side of the market.
Looking for a long on audio here if we change market structure above the 618. On top of that the Bitcoin pair will be bouncing off major support on bullish divergence.
If we can break through 55.4, Iâm eyeing the next move up to that little box above. Time to prepare for either direction from here. First target for the mini pump achievedânow watching closely for the next level! #CryptoMarketMoves #DOGSONBINANCE $BTC $ETH $BTC
Bitcoin (BTC) has been consolidating within a descending channel for an extended period, indicating a potential bearish trend. However, the recent formation of a "Hammer" candlestick pattern at the lower end of the channel suggests a potential bullish reversal. Â
Understanding the Hammer Pattern
A "Hammer" pattern is a bullish reversal candlestick pattern characterized by a small real body, a long lower shadow, and a short or no upper shadow. It signifies a potential shift in market sentiment from bearish to bullish, as buyers stepped in to defend the price at lower levels. Â
Potential Implications
If Bitcoin breaks above the descending channel's resistance, it could signal a significant bullish breakout, potentially leading to a substantial price increase. However, it's important to note that this is just one pattern, and further confirmation is needed before making any investment decisions.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Cryptocurrency trading involves significant risk. Always conduct your own research and consider consulting with a financial advisor before making investment decisions. Â $BTC #US_Job_Market_Slowdown #US_Job_Market_Slowdown #Babylon_Mainnet_Launch #BinanceTurns7
Has changed market structure bearish off a key zone. It's now in a downtrend on all time frames except monthly. We want to see a bounce off the 60-64k zone otherwise we make new lows.
New lows incoming imo. This is my predictive TA which means my likely scenario. Obviously if we change structure and break above highs the reactive TA will invalidate it.