฿ Bitcoin BTC/USD Daily Video, October 27, 2022

[Sive Morten]

Good morning,

BTC also has got its piece a cake from PBoC, BoJ and SNB interventions. But we suggest that upside action is artificial a bit and not reliable for long-term investing by far. BTC could hit nearest upside target around 21.5-21.6K but further upward action is under question:

 

[Tchurik]

Hi Sive, hi everyone,

I would like to try tracking the possible weekly DRPO with you. Considering the informations Sive give to us.
@Sive Morten mentioned the ABCD pattern forming on the 4h chart. This is the pattern we are going to use to get in this bullish move. The objective would be at first to reach the XOP target.

Then maybe we could use this M15 Di Napoli K-zone to get in.

We can't exclude that the Bitcoin goes back to the COP but as Sive said, that would be bad sign for the bulls.

To get more into small timeframes and details, we can see that there is a downward ABCD pattern in formation, we could use OP and XOP target of this pattern to put our buy order.

I hope it can be helpful for short term traders, i tried to follow sive's video and Di Napoli's method but i might be wrong of course so don't hesitate to comment the trade.

Thanks

N.B: I used Kraken charts for the drawings but numbers may change considering the broker you use

 

[Tchurik]

An edit to the Buy order, I m in 50% and put the rest around the XOP

 

[Sive Morten]

Hi Sive, hi everyone,

I would like to try tracking the possible weekly DRPO with you.

Hi mate, great work, keep it up. That is what we do this forum for.