Hint: Harmonic Patterns paint a gloomy picture for BTC . Cypher and Anti Cypher have formed on both the daily and weekly charts with a trajectory of price to 3600 USD
Recommendation: Reallocate your portfolio to strong layer one altcoins like Cardano , Solana, AVAX or Zil. BTC may not drag down other altcoins due to the decoupling phenomenon.
For a crash course on patterns check patternwizard.
Note that a pattern can later be invalidated when investor sentiment shifts based on macroeconomics
MARKET ORDER RULES
Market order position upon the confluence of valid entry rules on the 4H or 1H chart.
-=ENTRY RULES=-
Trading philosophy: Don’t short at the lowest of the bearish momentum nor do we long at the peak of a bullish impulse. The safest entries are at the end of a retrace on the 38.2%, 50%, 61.8% or 78.6% fibonacci back in the direction of the master trend.
Note: I use Daily/4H or 4h/1H market structures with wave analysis to prep for potential entries. The RSI , MACD and EMA indictors are confirmation for entries at the 4H or 1H timeframe
For SHORT: 4H chart should confirm that the bullish retrace had turned bearish in the direction of master trend. The MACD should have dropped below zero signifying a bearish environment. Price would have dropped below the 10 and 20 EMA . For good measure, check that the 4h and D1 RSI is below the 50 signal line
For LONG: 4H chart should confirm that the bearish retrace had turned bullish in the direction of the master trend. The MACD should have gone above zero signifying a bullish environment. Price had gone above the 10 and 20 EMA . For good measure, check that the 4h and D1 RSI is above the 50 signal line
About me I am not a financial advisor nor a signal provider. These are the opinions of a 20-year private trader in the legal profession as well as a businessman diversified in the tech and hospitality industries. My favored tools of the trade include wave analysis, price action on the 4H to Weekly timeframes and institutional order flow.
@jdo85, agreed. And patterns can always be invalidated with subsequent developments
asdy19
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We have the same analysis. I really don’t know why they are saying it will go up to 51k
PlazoSullivanRocheCapital
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@asdy19, Even if BTC crashes, I retain strong confidence in the utility of several altcoins including AVAX, HBAR, MATIC and ENJIN. I will continue to hold my alts for a decade. Let the decoupling of alts and BTC consummate. Got a link to your study? I'd love to see it
tobsgott
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At least get the title right. No one will Listen to you
PlazoSullivanRocheCapital
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@tobsgott, Your comment aged wells seeing we went all the way to 17k at the bottom