Summary of 20 minute video:
PA looks horrible as usual. We never seem to hit the targets that need to be hit for the price to go up.
I am still bullish on BTC, but the buy spot was the week start of Nov 20th, not now.
Anyway, I think we go to 42.6k, then 39.5 (oversold wick because of stop losses and then come back above ~40,300 and find support on the 12HR 500 hull and pushing back to this 42k level before dropping again. The reason why I would assume that the price would drop again is that the week timeframe looks bad at the point and may need to come down.
Really from there I still think its a matter of coming back up to drop down towards the day time frame hulls. They are currently at 36k and 36.8k, but are increasing at a rate of about 120 dollars a day.
So it will not take long for them to get above the week TF hulls (37k and 37.6k) to provide good support and finally move upwards.
I did not mention it, but I do think the dollar should have dropped more. It is currently hard to see it really pushing up too much and back into the Week TF hull range. Thus, I wouldn't be surprised if the dollar goes back up, just to fail again.
aaaaanyway. I go more into detail in the video.
PA looks horrible as usual. We never seem to hit the targets that need to be hit for the price to go up.
I am still bullish on BTC, but the buy spot was the week start of Nov 20th, not now.
Anyway, I think we go to 42.6k, then 39.5 (oversold wick because of stop losses and then come back above ~40,300 and find support on the 12HR 500 hull and pushing back to this 42k level before dropping again. The reason why I would assume that the price would drop again is that the week timeframe looks bad at the point and may need to come down.
Really from there I still think its a matter of coming back up to drop down towards the day time frame hulls. They are currently at 36k and 36.8k, but are increasing at a rate of about 120 dollars a day.
So it will not take long for them to get above the week TF hulls (37k and 37.6k) to provide good support and finally move upwards.
I did not mention it, but I do think the dollar should have dropped more. It is currently hard to see it really pushing up too much and back into the Week TF hull range. Thus, I wouldn't be surprised if the dollar goes back up, just to fail again.
aaaaanyway. I go more into detail in the video.