Bitcoin futures<\/h2>\n\n\n\nThe Monthly<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n![\"Bitcoin](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/bitcoin-monthly-doji-follow-bull-flag-breakout.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\nAnalysis<\/h3>\n\n\n\n\n- February\u2019s candlestick is a doji bar with a tiny bull body. The doji bar follows a bull breakout of a bull flag. Moreover, this bar forms an almost perfect double top with August high. The doji bar is a disappointing follow-through bar for the Bulls.<\/li>\n\n\n\n
- Throughout the reports, we have said that the context is more likely a trading range than a bear trend. After January\u2019s strong bull breakout bar, we have said that the context was more likely a trading range than a bull trend reversal.<\/li>\n\n\n\n
- Trading ranges tend to disappoint both bulls and bears looking for trends to be developed.<\/li>\n\n\n\n
- The bear trend (or the bull flag) has been tight and, in consequence, there are bulls that bought during the downtrend and are still trapped into their long positions.<\/li>\n\n\n\n
- When trends are tight, the first reversal up is normally minor, so counter trend traders (Bulls in this case) normally take quick profits.<\/li>\n\n\n\n
- But the long-term context looks like a broad bull channel (or a bull trending trading range) because the price is above the major higher low after a strong bull breakout: bulls will probably hold a second reversal up after a double bottom or a higher low with 2022 lows.<\/li>\n\n\n\n
- Nowadays, the context is either:
- Bulls want:
- The price to get to the June 2021 low: there, there are trapped bulls that are limiting a serious reversal up. A failed bear trend resumption: they will have better odds if they wait for the formation of a bottom like a double bottom, a head and shoulders bottom, or a tight trading range above the 2022 low.<\/li><\/ul><\/li><\/ul>\n
\n- Bears want:\n
\n- A resumption down after the double top. They know that bulls are making money buying below things, so they will take quick profits. In consequence, they do not expect the price to get far if they get lower lows, but their final goal still ends the long-term bull trend by trading down until they reach the major higher low.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Since February is disappointing for those bulls who bought above January\u2019s bull signal bar, they will probably get out their positions at breakeven, which means that there are sellers above January\u2019s close. It is more likely a test of the February lows than highs during March\u2019s candlestick.<\/li>\n<\/ul>\n\n\n\n
Trading<\/h3>\n\n\n\n\n- Bulls: February is not a good signal bar for stop order bulls, neither for limit order bulls. Stop order bulls will prefer waiting for a failed reversal down, and limit order bulls might prefer to buy below January\u2019s low.<\/li>\n\n\n\n
- Bears: February is a double top setup with a not strong sell signal bar for stop order bears. Limit order bears prefer to sell at the June 2021 low, and stop order bears might sell below February, but others may wait to sell below a bar with a bear body.<\/li>\n<\/ul>\n\n\n\n
The Weekly<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n![\"Bitcoin](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/bitcoin-weekly-good-bear-follow-through-after-ioi.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\nAnalysis<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\nAnalysis<\/h3>\n\n\n\n\n- February\u2019s candlestick is a doji bar with a tiny bull body. The doji bar follows a bull breakout of a bull flag. Moreover, this bar forms an almost perfect double top with August high. The doji bar is a disappointing follow-through bar for the Bulls.<\/li>\n\n\n\n
- Throughout the reports, we have said that the context is more likely a trading range than a bear trend. After January\u2019s strong bull breakout bar, we have said that the context was more likely a trading range than a bull trend reversal.<\/li>\n\n\n\n
- Trading ranges tend to disappoint both bulls and bears looking for trends to be developed.<\/li>\n\n\n\n
- The bear trend (or the bull flag) has been tight and, in consequence, there are bulls that bought during the downtrend and are still trapped into their long positions.<\/li>\n\n\n\n
- When trends are tight, the first reversal up is normally minor, so counter trend traders (Bulls in this case) normally take quick profits.<\/li>\n\n\n\n
- But the long-term context looks like a broad bull channel (or a bull trending trading range) because the price is above the major higher low after a strong bull breakout: bulls will probably hold a second reversal up after a double bottom or a higher low with 2022 lows.<\/li>\n\n\n\n
- Nowadays, the context is either:
- Bulls want:
- The price to get to the June 2021 low: there, there are trapped bulls that are limiting a serious reversal up. A failed bear trend resumption: they will have better odds if they wait for the formation of a bottom like a double bottom, a head and shoulders bottom, or a tight trading range above the 2022 low.<\/li><\/ul><\/li><\/ul>\n
\n- Bears want:\n
\n- A resumption down after the double top. They know that bulls are making money buying below things, so they will take quick profits. In consequence, they do not expect the price to get far if they get lower lows, but their final goal still ends the long-term bull trend by trading down until they reach the major higher low.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Since February is disappointing for those bulls who bought above January\u2019s bull signal bar, they will probably get out their positions at breakeven, which means that there are sellers above January\u2019s close. It is more likely a test of the February lows than highs during March\u2019s candlestick.<\/li>\n<\/ul>\n\n\n\n
Trading<\/h3>\n\n\n\n\n- Bulls: February is not a good signal bar for stop order bulls, neither for limit order bulls. Stop order bulls will prefer waiting for a failed reversal down, and limit order bulls might prefer to buy below January\u2019s low.<\/li>\n\n\n\n
- Bears: February is a double top setup with a not strong sell signal bar for stop order bears. Limit order bears prefer to sell at the June 2021 low, and stop order bears might sell below February, but others may wait to sell below a bar with a bear body.<\/li>\n<\/ul>\n\n\n\n
The Weekly<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n<\/a><\/figure>\n\n\n\nAnalysis<\/h3>\n\n\n\n
- Bulls want:
- The price to get to the June 2021 low: there, there are trapped bulls that are limiting a serious reversal up. A failed bear trend resumption: they will have better odds if they wait for the formation of a bottom like a double bottom, a head and shoulders bottom, or a tight trading range above the 2022 low.<\/li><\/ul><\/li><\/ul>\n
- \n
- Bears want:\n
- \n
- A resumption down after the double top. They know that bulls are making money buying below things, so they will take quick profits. In consequence, they do not expect the price to get far if they get lower lows, but their final goal still ends the long-term bull trend by trading down until they reach the major higher low.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Since February is disappointing for those bulls who bought above January\u2019s bull signal bar, they will probably get out their positions at breakeven, which means that there are sellers above January\u2019s close. It is more likely a test of the February lows than highs during March\u2019s candlestick.<\/li>\n<\/ul>\n\n\n\n
Trading<\/h3>\n\n\n\n
- \n
- Bulls: February is not a good signal bar for stop order bulls, neither for limit order bulls. Stop order bulls will prefer waiting for a failed reversal down, and limit order bulls might prefer to buy below January\u2019s low.<\/li>\n\n\n\n
- Bears: February is a double top setup with a not strong sell signal bar for stop order bears. Limit order bears prefer to sell at the June 2021 low, and stop order bears might sell below February, but others may wait to sell below a bar with a bear body.<\/li>\n<\/ul>\n\n\n\n
The Weekly<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\nAnalysis<\/h3>\n\n\n\n
- Bears want:\n
- The price to get to the June 2021 low: there, there are trapped bulls that are limiting a serious reversal up. A failed bear trend resumption: they will have better odds if they wait for the formation of a bottom like a double bottom, a head and shoulders bottom, or a tight trading range above the 2022 low.<\/li><\/ul><\/li><\/ul>\n