Ready to juggle some knives? BTC/ market update

Good evening, folks. A rare article by Roti has appeared! I honestly am not making these often these days, as I’ve got a lot of things going on. But from time to time I do post some updates over on the Discord so do check my status update on Tradingview for the link to that.

Follow this link to see the original idea and video:

Ready to juggle some knives? BTC/ market update by RotiWokeman on TradingView.com

I won’t repeat much of what was said in the video, but essentially we’re getting a tightening pattern of consolidation in BTC with some correlation with the S&P500. The recent upswing was partially riding on good earnings from the tech sector and I think there were enough crypto FOMO articles to balance out the FUDicles. Other pairs are correlating with BTC though that is occasionally breaking down. LTC is a laggard while ETH continues to test an uptrend with more strength than BTC. BNB is doing the same but I’d be cautious of a correction.

Focusing on BTC, we lost the higher lows on the 15min as the weekend approaches and volume drops off and stabilizes.

The video hit the 10 minute mark before I could tell you the specific areas to watch on BTC so here they are:

With a breakdown of the 1hr/ 15min channel of 9266, I am expecting a return to the support of 8977 though we may dump as low as the 23.6% fib zone (8914). We now have resistance at 9320 with a 61.8% fib zone supporting it. In the event of a bull break there’s a psychological resistance of 9500 overhead, a bull break target has a pretty solid wall around 9530 with a 78.6% fib zone supporting that.

Here’s a 4h view:

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This has been for educational purposes only and is not intended as financial advice.