Hope your having a normal day because of sideways action for a while. Get up if you’re asleep because today and the next week till Sunday will be the most important day of your life. Its these days where we will find out if we are in a bull or a bear market set with bull trap already.
So lets straight dive in and do some free T.A. analysis where you will never find anywhere.
As you can clearly see the bull market weekly is still holding up. I am hoping you have a BTCUSD shorts position charts as well in your watchlist. Do watch it out. No need to look at DXY , SPX , DJI and US10yr chart on weekends but they could play a major role in the normal days especially considering the tether and Evergrande situation.
The following two things shouldn’t happen if we are in a bull market.
1. A weekly close below bull maket support band
2. A wick below 36k
The key levels you should be watching are
1. 38.2% retracement from 13W low i.e. 38,346.36
2. 50% retracement from 52W high/low i.e. 37,590.37
So keep your buy order b/w these region and expect a bounce there.
The confirmation point for the bull run would be breaking of yellow line in middle. So bulls watch out for that when the downside wedge breaks because 70% of the time the move is to upside.
I think i have said it enough. You guys can follow me on twitter too for random updates just for gigs.
I do hope you have a really fine week up ahead. Do tell me more in comments sections if you like my analysis or if you have some doubts. Till then happy trading my bulls and bears
Thank you
Your respectively
Dante. An artist in crypto.
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