egsison

Revisit $1,400s on $ETH? Market Maker Sell Model lining up perfectly I guess What do you guys think?

Coming from my past two (and only) publishes here on TradingView, I'm finally back to another highly probable set up!My first published idea was a call at 17.5k to head back to 20k, and the second was a call from 20k to the 24k magnet.While it took more effort to reach the latter, we eventually got to 24k and a strong dip afterwards. Eventually it turned into a bullish retest around 21.4k which God-candled into new highs of 25K, and consolidate a small push into our current situation levels of just under 25k.Looking at the charts, 25.2k is the immediate level to flip. It's very important to get a HTF close above this. If we continue to fail a breakout, we can expect a retest of lower, but for now I am quite optimistic still and will not flip bias just yet. With that, I speak of my latest idea of BTC heading to 35k.This would be quite a huge jump to target, but looking at how the HTF is playing out, it's getting closer and closer and more likely to happen. In my opinion, there's a magnet to this price area.35k is an area that we first broke out upwards back in January 2021. The monthly candle closed below it, only for the next month to properly breakout and close above. This created new highs at the time, and was retest 3 months in a row from May to July. It held as a support and pushed us to our highs of 69kOnce it broke down, it had a small bounce, but still a red candle. This is where we might have a first hurdle of the 32k area, but ultimately I still think the proper range is drawn for 35k. Closing below those lines, the breakdown continued into our local lows, and we're now recovering into a probable HTF candle retest for the first time. As it would be the first proper retest, my conviction goes higher. It's either $32 or 35k before we see some struggling and 2 scenarios would show:1. A bullish retest into 44k level or2. A bearish retest into new local lowsAs always, we do this level by level and only read what the chart shows, so I will update by then.The higher targets only stand if we flip LTF resistances of 25.2k, and probably somewhere around 28k too. Invalidation would be a close under 21k.Feel free to leave a comment and humor me with your thoughts, so we could discuss! Cheers.

Jan 19, 2023 3:40PM UTC BBTC/USD trading at 20.9kWhile most would feel that the current pump is overextended, if we zoom out on the higher timeframes like the Weekly, Monthly, 3M, and 6M, we're essentially just starting. Coming from my previous prediction of BTC hitting 20k, I'm betting we get to 24k first before any major correction. RSIs have already cooled down too, ready for the next leg up.Pullbacks may be possible, but only to 19k to 18.6k at the lowest. With us reclaiming a very important 17.6k level last week, and ending the downtrend structure, this push upward makes sense. Historically, bouncing from 17.6k has given a bullish upward move of at least 40%. We are currently halfway there, with around 25K as target.I do believe 25K will also be met, but only 24k is what I can guarantee and predict for now. Plenty of nice confluences show up like EMA 50 and 200 crossing exactly at the area of May '22s lowest wick, which also marks the swing high bounce from June '22 lows.The bounce from June '22 lows into Aug '22 highs was a huge bull trap, sparking a very clean pattern of downtrend until the most recent pico bottom of 15.47k in November '22. Why this pump currently doesn't seem to be a bull trap (at least for now), is the sheer size of the body of its candlestick. While June '22 lows bouncing up to Aug '22 had a slow climb, and evidently we saw the same pattern of downtrend for the weeks that followed, our current situation shows a more aggressive recovery, which to me signals more of a reversal than just a corrective move.Exciting times. Looking forward to see this come into fruition. Cheers!