Category: Tether (USDT)

BTCUSDT : Updated scenario

Chart :

1) orignal post – Hourly chart – picture the projected Zig Zag 5,3,5 count ending at 6.8k or so. I expect the point C to end near our current lvl             or give a bearish wick at 10.1k.

2) Daily chart – Nature of fractals implies pattern inside pattern, while on the hourly chart we can count the sub impulse, the bigger picture illustrate an ABC pattern. You can see here the MACD 1D signal center line crossover. I expect then -20% fluctuation in price in the near futur if i apply the same chart behavior as the past signal center line crossover. I will add that ichimoku conversion line is still under the base line (bearish momentum data) while i consider the cloud turning green as an ebb flow of the price fluctuation from 6k to 11k. Effectively price might dump once we get out of the cloud spectrum; conjugated this signal with MACD 1D signal crossing the center line we might effectively see -20% price fluctuation.

snapshot

You can see in my anterior post my scenario projection of the MACD 1D following more a bearish direction. Right now it seems to confirm by the new data i.e. I expect MACD 1D to go close the signal and bounce on it instead of crossing it. In this case, it would mean that the bearish projection must be the leading one

snapshot

3) Weekly chart – This one can be easily interpreted by a quick look : ABC pattern (with fractals caracteristic on shorter time frame), an ichimoku conversion line under base line (bearish momentum data) going deeper and giving clear direction for the traders that use it.

snapshot

here is a variant of the count :

snapshot

Conclusion : for now there is no reason for me to conclude to a bull run is to be expected. But that doesnt exclude fluctuation testing the resistance, it just mean that BTC             have high probabilities to pursuit the bearish trend .