Steppp

Steppp

Starting of the month always led me to speculate on possible market scenarios. Bitcoin looks to me very week, the sell the news event of the last days of August has even emphasize this weekness. In the study above I analyze a bearish scenario where BTC trend change from bullish to bearish in the next months, I would say in the last quarter 2023. Using just few...

Steppp

As shown in the picture you can see an evident rising wedge in formation on BTC. Possible targets for the likely breakdown are: 21.5k, 20.5k and 18.5k areas. My personal targe is 18.5k area, it correspond with rsi oversold area and 0.618 fibonacci level. The intermediate cycle (about 50day) is weak and we see some strength in the price only at the opening of the...

Steppp Updated 

We are closing a approximately 60 days cycles. I would expect the close to bring the RSI14 in oversold territory on a 4h TF. To take position on this little cycle that will probably close the major one we use a 15min TF and the RSI14 to spot the right moment. SHORT EASY: Open on 15m over bought area. Stay safe with a wide SL. DIFFICULT: if you feel to face a...

Steppp Updated 

I expect a last T cycle with a bearish constraint cause: 1 – The valid trend line (VLD) was broken in the last few hours 2 – The T+2 is probably closing bringing a lot of selling pressure on the price action 3 – A new T+2i (and maybe also a new T+3i) started at the local top of the 31st of May bringing other strong selling pressure 4 – When a T-1 low it’s broken...

Steppp Updated 

1 - 2nd weekly open of the month cycle started with the 12th May local bottom 2 - Bearish close of the first half week cycle. Therefore we can assume a bearish weekly closed 3 - Probable local top in conjunction with the falling trend line. TARGET - After confirming the local top in 3 we can reasonabaly expect a weekly close as well as a 2 weekly close (started...