Cryp_Trades

We had a surprisingly positive September.Uptober? I don’t think so.

I’ve drawn up 2 ranges that I think could act as strong support for Bitcoin. If the first green box breaks, I think we’ll see a cycle bottom at/in the second green zone in the coming months.

Looks like BTC RSI might find a bottom soon if the macro channel provides “support” here. I expect consolidation for the next 6 months or so before going to ATH levels.

Btc has formed a bullish div. on the 4H timeframe. Wait for confirmation though

It’s too early to tell but we might face a bearish divergence on the daily timeframe for Bitcoin soon. Once RSI breaks the trend line, one could potentially go short to the bottom of our macro channel. If that channel breaks, 22k (200 MA) is likely. If the divergence does not occur, prices could easily test the 34-35k levels.

After breaking down from the rising wedge a couple weeks ago, btc started forming a new rising wedge at the +-30k levels. If you take a measured move from the first breakdown and place it to the second rising wedge, you’ll get a target of approximately 22k which coincides with the 200 MA. Final Breakdown soon?

Once divergence occurs, open position after trend is broken

I think we will see a short-term pump, followed by a break to the downside, which will likely result in BTC going down to the 200 MA at around 22k

Even though this is a bearish continuation pattern, I believe we will see a break to the upside, accompanied by a small pump to the low 30s, followed by a break below our monthly channel which will result in at least 22k.

I personally think that we will still go lower in the next weeks/months but Bitcoin could be forming a inverse head and shoulders pattern right now, which is of course a bullish pattern. The low of the head might not be in yet.