฿ Bitcoin BTC/USD Daily Video, January 10, 2019

Sive Morten

Special Consultant to the FPA
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18,571
Good morning,

With recent drop market puts big flaw in bullish context and it could lead to failure of daily H&S pattern. It means no long positions by far:



The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.
 
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Hi Sive, just a heads up. Here it's displaying the Gold video. Probably there was an error when uploading the BTC daily video.
 
Today's BTC drop move is very welcomed from a technical perspective because it adds some clarity to the picture. I have activated a couple of Daily scenarios to be monitored.
First one (orange arrows) would give us some bullish market structure drawing a bottom at around 3400 (Binance).
The second one (teal arrows) assumes a deeper correction back to 2800 area, and start drawing market structure from that point.
At this point, I am not focusing into sub-2000 levels, since that belongs to Weekly based scenarios and would be a consequence of the failure of 2800 area.

RvZf3tmQ
 
Today's BTC drop move is very welcomed from a technical perspective because it adds some clarity to the picture. I have activated a couple of Daily scenarios to be monitored.
First one (orange arrows) would give us some bullish market structure drawing a bottom at around 3400 (Binance).
The second one (teal arrows) assumes a deeper correction back to 2800 area, and start drawing market structure from that point.
At this point, I am not focusing into sub-2000 levels, since that belongs to Weekly based scenarios and would be a consequence of the failure of 2800 area.

Well, it seems that we could get 3-Drive Buy on daily in this case...
 
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