One more wick for BTCUSD and then...reversal?

2022年1月6日

Every birth has a birth pain and wicking down to or below 39-40k price area would be healthy and assist a reversal narrative to 100k and possibly above

News: Kazakhstan Internet Blackout Hits Bitcoin (BTC) Mining and Kosovo banning crypto mining (yeah...good luck with that XD)

Technicals:

• Super Trend on the daily is bearish and a wick down to 39-40k area
  
• 2 Week Super Trend is flat as was the case before the previous run-up
  
• Weekly RSI 30 is not below 50 and reversal occurred previously at this level
  
• Weekly and 2 Week MACD is resetting for momentum to flip
  
• A new false H&S fractal is forming and could conclude. This was the case in July 2021 before the reversal all the way to the new ATH in Nov 2021
  
• 78 WEMA has previously acted as support and would correspond to a reversal wick around the expected support price area of 39-40k
  
• 2 Week Vortex Indicator has a green cross indicating reversal but could do a false dip for the reversal wick before rebounding
  
• Log fib retracement indicates =-87-100k price target
  

Expected time estimation: My best guess would be a run-up starting anywhere from the beginning of Feb-Mar and ending in late April/early May as was the case for 2021

Happy new year and good luck to everyone in these interesting and exciting times

2022年1月21日

註釋

Happy to see it drop. Imo it could drop all the way to +-35k USD

2022年1月21日

註釋

Let's see if we get a slight reversal from the MMs or a further bear flag down

2022年1月22日

註釋

Price has reached the green support trend line for BTC indicating a potential buy opportunity

2022年1月22日

註釋

Be cautious and set tight stop loss in case a further drop for double at 30k

2022年1月24日

註釋

Green trend line hit, let's see if we drop further or wick here hmmm...