Tradingview: Bitcoin Chart Published By Philosof
https://www.tradingview.com/u/Philosof/
Bitcoin chart review
Comment: So far BTC managed to hold for 8700 SR, while still looking like able to fall lower to 8300 at least, and possible 7550 to form right shoulder for inverted H&S pattern. Today February candle close and so far the big picture look bullish. Just in case you forgot how it looks, today BTC chart is dedicated for all the bulls holding BTC long till December 2021, I can't say for sure if it will get to 450k by that time, but it will surely cost more than 10x from current value.
Happy first day of Spring to everyone 🙏 What it will bring to the crypto world?
Comment: CME futures 4H LL was at 8600. If today price will close anywhere below, Monday will bring a bounce to close the gap. Volume decreased - that is also a sign of bears losing interest. Big picture seem to be the same - long red week candle targeting 7555. Will it get there after the bounce, before, or won't get there at all, so far under question. Trend is bearish, so I wouldn't count on fast reversal. Besides support at 8300 is too attractive to miss it out.
Remember the big picture,
Resistance: 9070 - 9170 - 9260
Support: 7555 - 8000 - 8330
Bitcoin Dominance 4HOUR and 8HOUR Chart Review
Comment: BTC dominance drawing a bull flag (pennant) at 4H chart, so alts are still in danger. Yesterday they were recovering, today pulling back. Soon we will see strong impulse in all of them.
Comment: BTC dominance 8H chart. Same bull flag (pennant) as at 4H chart . Volume decreasing towards the end of pattern which suits TA rules. That bullish pattern signals, that it is too early to go all in alts now. Why? Because i case bull flag breakout alts will dump for another 15-20%. So if you go long at any altcoin now, be sure you have reserves to average cost later.
😱 Fear & Greed index: 38 (<= 40 <= 39 <= 41 <= 44 <= 46)
👑 BTC Dominance: 63.8% (<= 64.1 <= 64.2 <= 64.5 <= 63.2)
⚙️ 24h Volume: $153 billion (<= 151 <= 198 <= 169 <= 156)
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