$BTC
Hello, guys. This is your Captain speaking, how are you all?
Guys, are you enjoying the Bull mode? At least I'm enjoying it. I've prepared you for this way before time and now it’s happening. Now it’s time for an update.
First, let's look at the weekly timeframe. On the weekly timeframe, BTC has made a double top formation (check first screenshot) and the neckline (red horizontal line) has been broken. The upthrust candles we've seen are just a bearish retest of the neckline. Bulls must close a weekly candle above that neckline and then a good retest will remove all my bearish bias. As always, I'll update you all about that.
Now, according to the Fear & Greed indicator, market is in Greed mode numbered 63 (check second screenshot) which was 72. Market is in Greed mode, so you should be in Fear mode. I want a somewhat dump in the market to lower that 63 number. Today's dump already lowered that by 9 points 😂
On the Daily timeframe, BTC is consolidating under that neckline (check third screenshot) which is good for Bulls for now. Consolidate just below the resistance, grab some fuel and then fly, that's the plan. So, till now, I'm bullish on higher timeframe and a little bearish on lower timeframe. I've drawn two boxes from where BTC may reverse to the upside. I want the bulls to reverse from the yellow box, not the white box. Bulls, please, do not let the price go below the yellow box 🙏
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HAPPY TRADING 🫡