Double-Top not yet invalidated - Pullback to 58k?

26 Jul

So, in my last analysis I mentioned the possible double-top pattern with a target of 42-44k, which now seems to be in the process of being invalidated. As I said, a break of 64-66k would be a good start but the real resistance that needs to be broken for continuation of this bull market is located at 68-70k.

I don't believe it's just going to break without some nasty stop-hunts, fake breakouts and the like. So I am leaning towards something I have shown in the charts: Fake breakout just shy above ~70k, retest range lows around 58-60k for one more time. But that's just a WILD guess at this point. I'm always trying to see the most difficult (for traders) scenarios first, knowing how market makers suck the liquidity out of retail traders (I am one myself, but you get the point).

Stay safe!

29 Jul

Catatan

So far, so good. Tagged 70k and got dumped. Think it might take 2-3 days to get to 59-60k, so probably not in a single flush (it would have happened already).

2 Agu

Catatan

Still playing out nicely :) But my timing is off (again)

Anyway, 60k is still on the table, probably not today, but likely mo-tue next week.

4 Agu

Catatan

Almost getting there :)

Another thing to keep an eye on is the very unusual daily candle we have seen on friday. Usually after such a strong daily close the day before (thursday), the market continues to see strength but this time we saw a daily close below on the very next day which I have seen only once before on BTC (21 june '21).

Back then it was caused by the china-ban on BTC, so you could say it was exceptional but this time there were no bad news at all! In my opinion this is just confirming, that this move simply is orchestrated by the big boys to shake out everyone on purpose before we (hopefully) go back up again.