{"id":195957,"date":"2023-12-17T01:30:00","date_gmt":"2023-12-17T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=195957"},"modified":"2023-12-17T03:31:14","modified_gmt":"2023-12-17T11:31:14","slug":"bitcoin-2nd-inside-bar","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/bitcoin-2nd-inside-bar\/","title":{"rendered":"Bitcoin 2nd inside bar of a solid 10-week bull micro channel"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: Bitcoin Futures<\/h2>\n\n\n\n<p><strong><a href=\"https:\/\/www.cmegroup.com\/markets\/cryptocurrencies\/bitcoin\/bitcoin.html\" data-type=\"link\" data-id=\"https:\/\/www.cmegroup.com\/markets\/cryptocurrencies\/bitcoin\/bitcoin.html\" rel=\"noopener\">Bitcoin<\/a> <\/strong>2nd inside bar of a 10-week Bull Micro Channel. <a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/bitcoin-big-bull-bar\/\" data-type=\"link\" data-id=\"https:\/\/www.brookstradingcourse.com\/analysis\/bitcoin-big-bull-bar\/\">Last week<\/a>, we have said that the price was likely to test this week&#8217;s low instead of continuing to trend up higher, and this is what happened. This sell-off was provoked by Bulls taking profits, since there is not any topping pattern yet. Regarding the Daily chart, the price failed to do a Bull Breakout of a Bull Channel. Moreover, last week, we have said that the chances of a successful Bull Breakout of a Bull Channel only happens 30% of the time. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bitcoin futures<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Weekly<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/bitcoin-weekly-10-bull-micro-channel-inside-bar.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/bitcoin-weekly-10-bull-micro-channel-inside-bar.png\" alt=\"Bitcoin inside Bar during a 10-week Bull Micro Channel. Bitcoin Report by Josep Capo on December 17th 2023\" class=\"wp-image-196080\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/bitcoin-weekly-10-bull-micro-channel-inside-bar.png 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/bitcoin-weekly-10-bull-micro-channel-inside-bar-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/bitcoin-weekly-10-bull-micro-channel-inside-bar-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/bitcoin-weekly-10-bull-micro-channel-inside-bar-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/bitcoin-weekly-10-bull-micro-channel-inside-bar-1536x864.png 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Mapping Orders<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Bulls:\n<ul class=\"wp-block-list\">\n<li>Their Stop Loss is likely below the 10-bar Bull Micro Channel low. \n<ul class=\"wp-block-list\">\n<li><em>Bull&#8217;s Stop Loss are <\/em>\u201cSell at the Market\u201d<em> orders.<\/em><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Bears:\n<ul class=\"wp-block-list\">\n<li>If there are weekly Bears, their Stop Loss is most likely above the 2022&#8217;s high. \n<ul class=\"wp-block-list\">\n<li><em>Bear&#8217;s Stop Loss are <\/em>\u201c<em>Buy at the Market\u201d orders. <\/em><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Market Cycle<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Market Cycle looks like a Bull Breakout:\n<ul class=\"wp-block-list\">\n<li>During a Bull Breakout, Traders buy High.<\/li>\n\n\n\n<li>But this week, after a good Bull Breakout Bar, the price reversed down.\n<ul class=\"wp-block-list\">\n<li>Traders are not buying high anymore. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>If the Bull Breakout is over, \u00bfwhat is this?\n<ul class=\"wp-block-list\">\n<li>The Spike of a Spike and Channel Bull Trend.<\/li>\n\n\n\n<li>Or a Bull Leg of a Broad Bull Channel.<\/li>\n\n\n\n<li>Or a Bull Leg into a Trading Range.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>\u00bfWhat is more likely?\n<ul class=\"wp-block-list\">\n<li>Judging on higher Time Frames, a Trading Range is more likely. \n<ul class=\"wp-block-list\">\n<li>The price is still within the 2022&#8217;s price range.\n<ul class=\"wp-block-list\">\n<li>2023 is an Inside Bar on the Yearly Chart.\n<ul class=\"wp-block-list\">\n<li>An Inside Bar represents a Trading Range pattern.\n<ul class=\"wp-block-list\">\n<li>A Trading Range pattern can be a continuation pattern or reversal pattern. \n<ul class=\"wp-block-list\">\n<li>The price was coming from a +75% drawdown, and hence, the prior context was not bullish.\n<ul class=\"wp-block-list\">\n<li>Reversal pattern likely.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>The Bull Breakout is probably a Bull Leg in a Trading Range. <\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Inertia<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Traders expect a reversal.\n<ul class=\"wp-block-list\">\n<li>Since this is likely just a Bull Leg in a Trading Range.\n<ul class=\"wp-block-list\">\n<li>After a Bull Leg in a Trading Range, comes a Bear Leg. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Bulls are taking profits, but if there are not enough Bears willing to sell around this area, the price might vacuum test the Bear&#8217;s Stop Loss to find its counterparty. <\/li>\n\n\n\n<li>Until there is not a Bear Sell Setup, more likely trading towards Bear&#8217;s Stop Loss.\n<ul class=\"wp-block-list\">\n<li>If there is another push-up, the price will draw a Parabolic Wedge Top and the odds of a reversal will increase. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Trading<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Bulls:\n<ul class=\"wp-block-list\">\n<li>They are not likely to buy high. <\/li>\n\n\n\n<li>More likely, they are taking profits.\n<ul class=\"wp-block-list\">\n<li>Their risk is too big if they maintain the original Stop Loss:\n<ul class=\"wp-block-list\">\n<li>They probably took partial profits along the way and have their Stop Loss above their entry price:\n<ul class=\"wp-block-list\">\n<li>The Breakout Mode Pattern High.<\/li>\n\n\n\n<li>Above the high of the Bull Breakout Bar that broke the Breakout Mode Pattern.   <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Bears:\n<ul class=\"wp-block-list\">\n<li>They might sell after a Bear Signal Bar.\n<ul class=\"wp-block-list\">\n<li>Either after a Micro Double Top from this week.<\/li>\n\n\n\n<li>After a Parabolic Wedge Top formation.<\/li>\n\n\n\n<li>After a Low 2 sell Signal. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Daily<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/bitcoin-daily-failed-bull-breakout-of-bull-channel.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/bitcoin-daily-failed-bull-breakout-of-bull-channel.png\" alt=\"Bitcoin 2nd inside bar of a solid 10-week bull micro channel. Weekly chart of Bitcoin futures on December 16th 2023. \" class=\"wp-image-196071\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/bitcoin-daily-failed-bull-breakout-of-bull-channel.png 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/bitcoin-daily-failed-bull-breakout-of-bull-channel-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/bitcoin-daily-failed-bull-breakout-of-bull-channel-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/bitcoin-daily-failed-bull-breakout-of-bull-channel-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/bitcoin-daily-failed-bull-breakout-of-bull-channel-1536x864.png 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Bulls and Bears Map<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Bulls: \n<ul class=\"wp-block-list\">\n<li>Their Stop Loss is below the Bull Breakout Low.\n<ul class=\"wp-block-list\">\n<li><em>Bull&#8217;s Stop Loss are <\/em>\u201cSell at the Market\u201d<em> orders. <\/em><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Bears: \n<ul class=\"wp-block-list\">\n<li>Their Stop Loss is above December high. \n<ul class=\"wp-block-list\">\n<li><em>Bear&#8217;s Stop Loss are <\/em>\u201cBuy at the Market\u201d<em> orders. <\/em><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Market Cycle<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The market cycle is a Small Pullback Bull Trend.\n<ul class=\"wp-block-list\">\n<li>The Small Pullback Bull Trend is also a Spike and Channel Bull Trend.<\/li>\n\n\n\n<li>The Trend has been so strong that the price did not touch the 20-day Exponential Moving Average since the Bull Spike.\n<ul class=\"wp-block-list\">\n<li>But a strong Bull Breakout occurred late in the Bull Trend, and now the price is forming a second leg sideways to down.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Eventually, the price will probably transition into a Trading Range.\n<ul class=\"wp-block-list\">\n<li>First, the price needs to take out the Bulls by Trading at the Bull&#8217;s Stop Loss.<\/li>\n\n\n\n<li>Or trade sideways for about 15 bars more.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Trading<\/h3>\n\n\n\n<p>Until there is not a Bear Signal on the Weekly or Monthly, or until the Bulls are not proven wrong by transitioning into another Market Cycle, swing Traders should look to buy. <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Bulls: \n<ul class=\"wp-block-list\">\n<li>Bulls that were in the Trade, probably took most of their profits during the past Bull Breakout, or they will exit below a Bear Bar. <\/li>\n\n\n\n<li>Most want to buy a reversal up from the 20-day Exponential Moving Average. \n<ul class=\"wp-block-list\">\n<li>Last week, we have said that Bulls would take profits below a Bear Signal or a Low 2. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Bears:\n<ul class=\"wp-block-list\">\n<li>Bears selling now have a low probability of success. They need a Low 2, Low 3, or better, wait for a Major Trend Reversal Setup. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p>You can access all the weekend reports on the <a class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\" rel=\"noreferrer noopener\">Market Analysis<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: Bitcoin Futures Bitcoin 2nd inside bar of a 10-week Bull Micro Channel. Last week, we have said that the price was likely to test this week&#8217;s low instead of continuing to trend up higher, and this is what happened. This sell-off was provoked by Bulls taking profits, since there is not any topping [&hellip;]<\/p>\n","protected":false},"author":7271,"featured_media":196080,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[1904,136],"tags":[223,324],"class_list":{"0":"post-195957","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"category-analysis","9":"tag-bitcoin","10":"tag-cryptocurrency","11":"entry","12":"override","13":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/bitcoin-weekly-10-bull-micro-channel-inside-bar.png","author_info":{"display_name":"Josep","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/cnjoseluis10gmail-com\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/195957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/7271"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=195957"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/195957\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/196080"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=195957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=195957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=195957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}