BTC/USDT Update: Is Phase E already here? 48k$ and 60k$ next
Intro:
- Btcoin broke out of it's downtrend indicated by the yellow line.
- The last three times we did take a look at the Wyckoff accumulation pattern and it seems we finally are moving towards Phase E.
- Guys please give me some feedback to improve my charts, analysis and commentaries.
Daily chart on the left hand side:
- The volume continues to increase which is bullish .
- On the RSI side we finally got above the 50 line and crossed the yellow line which indicated a downtrend.
- The next resistance lines are at 48k$ and the 60k$ so we still have a lot of room to grow.
4h chart on the right hand side:
- We see a golden cross indicated by the yellow camera.
- BTC broke the 44k$ and shortly also 45k$ level which are flash signs that we move towards Phase E since the last resistance for the Wyckoff accumulation is around 43k$.
Expectation:
- We expect a pullback to retest the 43k$ and 44k$ line and look for support.
- Afterwards there is not much resistance between here and 60k$. So it could be a fast ride.
- We expect to hit the old ATH soon within the next two months.
Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone . Check the description.
- Btcoin broke out of it's downtrend indicated by the yellow line.
- The last three times we did take a look at the Wyckoff accumulation pattern and it seems we finally are moving towards Phase E.
- Guys please give me some feedback to improve my charts, analysis and commentaries.
Daily chart on the left hand side:
- The volume continues to increase which is bullish .
- On the RSI side we finally got above the 50 line and crossed the yellow line which indicated a downtrend.
- The next resistance lines are at 48k$ and the 60k$ so we still have a lot of room to grow.
4h chart on the right hand side:
- We see a golden cross indicated by the yellow camera.
- BTC broke the 44k$ and shortly also 45k$ level which are flash signs that we move towards Phase E since the last resistance for the Wyckoff accumulation is around 43k$.
Expectation:
- We expect a pullback to retest the 43k$ and 44k$ line and look for support.
- Afterwards there is not much resistance between here and 60k$. So it could be a fast ride.
- We expect to hit the old ATH soon within the next two months.
Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone . Check the description.
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