Speculative scenario but assessing possible price action / interaction with horizontal resistance and market structures over the next month.
- $18,600 seems too far but it's the first real 'local' support under $30k. Target for closing shorts.
- Key focus is on ALT recovery point which might be much later during any drop. Going long too early might be detrimental
- Expecting fast recovery - 28 Days back into key line of resistance. Long Entry at $30k (Break back up through wedge)
- Purple line is key line of descending resistance
- Falling wedge structure i'm 80% sure on.
If it drops I expect a recovery by mid-March into the $30k to $40k range inline with equity market expectations.
Best, Hard Forky
Stuff:
Final Local Shorts
Macro (Developed in Nov & Dec 21 - although has been adjusted with new final drop expectation)
- $18,600 seems too far but it's the first real 'local' support under $30k. Target for closing shorts.
- Key focus is on ALT recovery point which might be much later during any drop. Going long too early might be detrimental
- Expecting fast recovery - 28 Days back into key line of resistance. Long Entry at $30k (Break back up through wedge)
- Purple line is key line of descending resistance
- Falling wedge structure i'm 80% sure on.
If it drops I expect a recovery by mid-March into the $30k to $40k range inline with equity market expectations.
Best, Hard Forky
Stuff:
Final Local Shorts
Macro (Developed in Nov & Dec 21 - although has been adjusted with new final drop expectation)
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BTC trying to push back up - retest of broken support is viable but my assumption at this stage is that it is a bull trap with low liquidity pushing market prices up.
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still time to break down but this move off daily support might invalidate
