We are pressing against resistance from the long-term Gann Fann (4/1) line, which has accurately marked areas of higher volatility and support/resistance flips since November 2020 when the recent bull run was confirmed.
We are also pressing up against the golden pocket (fib .618-.65), just now having surpassed the .5 FIB last week, and already confirmed it as support. Market makers appear to be in accumulation mode. There's a volume / price divergence in play, and generally higher volumes for each subsequent dip... In the past 8 hours we saw the 2nd highest 8h candle in 30days!
Long-term, since the mid June crash, it's clear we are in a rising channel. ~15% wide from top to bottom, a huge opportunity for those traders who can think beyond a few hours, or even a few days. It's painful to see your investments lose value, but played right, with a solid DCA strategy over longer time period, it can be unbelievable profitable!
Neutral / Bearish: We must hold 23750, in my best estimation, or we are likely in for a deep fall in price again. Edging this close to the channel bottom is very unpleasant, indeed! If we fall out, we can only *hope* for a fake out.
Bullish: Pump through to 25.5k (golden pocket) and retrace to 25k as new support. Expect fireworks if we start closing 8h candles about 25.5! 🔥🚀💥
We are also pressing up against the golden pocket (fib .618-.65), just now having surpassed the .5 FIB last week, and already confirmed it as support. Market makers appear to be in accumulation mode. There's a volume / price divergence in play, and generally higher volumes for each subsequent dip... In the past 8 hours we saw the 2nd highest 8h candle in 30days!
Long-term, since the mid June crash, it's clear we are in a rising channel. ~15% wide from top to bottom, a huge opportunity for those traders who can think beyond a few hours, or even a few days. It's painful to see your investments lose value, but played right, with a solid DCA strategy over longer time period, it can be unbelievable profitable!
Neutral / Bearish: We must hold 23750, in my best estimation, or we are likely in for a deep fall in price again. Edging this close to the channel bottom is very unpleasant, indeed! If we fall out, we can only *hope* for a fake out.
Bullish: Pump through to 25.5k (golden pocket) and retrace to 25k as new support. Expect fireworks if we start closing 8h candles about 25.5! 🔥🚀💥
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www.youtube.com/channel/UCjHR6-4OM6u9Ys2KKCrL1nQ
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* bybit.com/en-US/invite?ref=EKJRL
* ftx.com/profile
