BTC short-term analysis

19 เม.ย. 2023

Hi all,

I would like to share my thoughts about BTC. For mid and long-term, I still think that BTC would go higher to touch 36000s and even 42000s (see my weekly chart in the link below). However in short-term, like many of you (I think), my outlooks are bearish.

As seen in 4H TF chart, BTC's prices have been moving in a descending channel. If $29000 level holds, I expect that BTC would go up to retest $30000-$31000 area, at least. But in the end, BTC would be rejected again and would go to fill the CME gap at around $28100. Then if this price hold well, BTC will comeback to its initial trajectory to $36000.

In my opinion, a wyckoff-based distribution is a possible scenario for short-term period: the red candles are with high quality and dominant to the green ones.

I would not ignore another scenario where BTC goes straight to $28100 (CME gap) from here without any futher "manipulation". But I lean on the first one.

What are your views for BTC?

In any case, stay safe and good luck!

21 เม.ย. 2023

บันทึก

My scenario of preference (wyckoff manipulation) didn't happen.
But the final target is reached. In my opinion, we need to wait some days for better ideas of what would come next

21 เม.ย. 2023

บันทึก

CME gap was filled. Prices are around the Fib 0.236 ($28100).