A) The blue indicates the area of possible rebound to continue movement
B) The red indicates the area that calls into question the continuation of the movement
C) The black cancels continuation of trend
The price dropped to the black and on 6th of February the trend was changed to a downward trend .
For two months the model of the has been generated , this model indicates a continuation of the downward trend , the target level is indicated on the chart
The price range is narrowing , on the chart you can see the emerging triangle , usually breakthrough occurs in the direction of the trend .
wait for the breakthrough of the triangle
in my opinion it's just a market manipulation
I don't make any predictions
I just use technical analysis and I calculate the formations on the chart
at the moment we are testing the support line of 7770 and i don't see the correct entry point
You should understand that experienced players came to the market and this can be a bull trap
We need to wait for the correction to check the movement
STATUS Don't trade
ideally we need to wait for the closure of the four-hour candle
The resistance zone is 8900 - 9200
The target level of flag is 9600
STATUS Don't trade
The target level is 7518
In the red circle we can see the small volume
I think it's the trap
Closing the four hour candle above the blue line will mean the continuation of the movement
Most likely the last jump in the price is another manipulation for save .
It's only my guess
SAFE ENTRY Closing the four hour candle above the blue line
Wait for the closure of the four-hour candle
The indicator shows the forming of the trend
The candles closes with the a new high , it's the good sign of start the bullish movement.
I don't claim that bitcoin will die or will become much cheaper , I'm just analyzing the chart and i don't manage the price / market
It's the good sign for price growth , the approximate target level is 9500
On the day chart we can see the three candles with a new high , it's the sign of acceleration.
The closure of the day canlde above the red rectangle will be a good confirmation sign
I'm just analyzing the chart and now there are bullish signs
I'm not a TA guy, I'm a social scientist. But what I just read is an example of when someone uses data to confirm their theory instead of letting the data drive your theory. In experimentation, we "test" our theory, but our theories are derived from the existing data. Then we go collect more to test that theory.
It really does look to me like you "expected" Bitcoin to fall and so you found that story in your data, no matter what the data was saying.
That update from 10 hours ago was what I was waiting for when I read all of this when you said "Honestly , I don't know what is this" :)
Again, I'm seriously not trying to make fun of you. Best wishes and thanks for all your work here.