Local thoughts before correction...
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A few local thoughts on the bitcoin chart.
From the technical side:
On the four-hour timeframe, we have a local triangle pattern with a puncture at $23,800.
I think that if the weekend goes without sharp movements on the chart (there will be no strong volatility), then most likely we will see a full-fledged triangle with a few more confirmations.
The question is, what will be the way out of this structure and triangle?
There are several thoughts about this, they are as banal as possible and you may not hear anything new for yourself, but it’s worth sharing.
1. The market maker shows us another take-out to the $24,000-24,200 zone, which causes even more fomo (loss of profit syndrome) and drives even more crowds into the long, after which it throws off the entire load to the local support of $21,900-21,500 and it continues there formation of a new structure.
2. This is to give a false correction approximately from the level of $23,000-23,500 (I do not exclude volatility from reports) and from there put a candle into the zone of $22,200-21,700 approximately, and after that bring it to the zone of $24,000-24,200.
Well, either the unemployment data is very bad and plus they raise the rate by 0.75-1% bp and we see one arrow in the range of $17,000-16,500
A few local thoughts on the bitcoin chart.
From the technical side:
On the four-hour timeframe, we have a local triangle pattern with a puncture at $23,800.
I think that if the weekend goes without sharp movements on the chart (there will be no strong volatility), then most likely we will see a full-fledged triangle with a few more confirmations.
The question is, what will be the way out of this structure and triangle?
There are several thoughts about this, they are as banal as possible and you may not hear anything new for yourself, but it’s worth sharing.
1. The market maker shows us another take-out to the $24,000-24,200 zone, which causes even more fomo (loss of profit syndrome) and drives even more crowds into the long, after which it throws off the entire load to the local support of $21,900-21,500 and it continues there formation of a new structure.
2. This is to give a false correction approximately from the level of $23,000-23,500 (I do not exclude volatility from reports) and from there put a candle into the zone of $22,200-21,700 approximately, and after that bring it to the zone of $24,000-24,200.
Well, either the unemployment data is very bad and plus they raise the rate by 0.75-1% bp and we see one arrow in the range of $17,000-16,500
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