BTC (Y21.P1.E16).Price Action on the 4 HRLY

Hi Traders,

Looking at the 4 hrly chart, we have a nice trend and we should continue with the 4 hourly until it says no more.
I see a temporary wall coming for the short term in the 61k mark.
This level has confluence with the fib extension levels at the micro and macro level.

It has backing from the BTC dominance chart.


All the best,

S.SAri

Using an old chart, it still rings true with this current TA.

تعليق:

After this post...many hours later, I re-visited a number of charts and concluded that there was a big correction on its way and made this post. I knew there was a possibility for 48K but 52K was what was in mind. That correction was a whale initiated one at 52k to liquidate all the long leverages and the wick is evidence of this in my mind. For now, we are above 52K which in my mind is the key for the trend being intact. My expectations forward is another re-accumulation structure and we will have another attempt to 58k and likely fail. What happens after that, will be most important to determine if this will be a distribution\top or re-accumulation in the coming week\weeks.

تعليق:

bearish div. playing out.
Fractal on the 2 day chart.

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Went below the daily 10 EMA now where?