ciekawy

ciekawy

try to find more neutral bitcoin value

ciekawy

if the lines on the chart makes sense the real test for the bulls will come after reaching provisional upper edge of the channel - while only retrace from there will actually confirm the channel - middle lines seem to match consecutive lower highs - also the price is now in line with previous LHs

ciekawy

BXBT BITMEX index combining three other exchanges seems to be an interesting option to check averaged price

ciekawy

BXBT index combining three other crypto exchanges sounds an interesting option to look at the averaged price

ciekawy

inverting char helps to be not too biased. Then we can see at least three structures...

ciekawy

Lot of undecision recently with quick moves back and forth - may it last for another week or more?

ciekawy

changing point of view like may help being less biased ;)

ciekawy Updated 

could just it be a bull trap so a retest of 9150-9000 area is needed to decide on possible break up?

ciekawy Updated 

just tested bottom of a channel which may be a good moment to enter long and then watch carefully levels above 9900. Stop below 9450.

ciekawy Updated 

... along with short-term uptrending BTCUSD ...

ciekawy

if you squint your eyes we could look at the current situation as a small fractal happening within the big one and just yesterday entered the future ;) Of course single drop is enough to invalidate it. Let's see how the future looks like :)

ciekawy

Considering mid term strength and an inverse H&S with neck of a right shoulder around 9890 the range can be 12500+ - from 12k local high to the left side of the neck is 30% gives the range up to 12860 - all depends on the momentum and the FOMO. If not already in a trade I'd consider an entry after breakout confirmation or after breaking another local downtrend...

ciekawy Updated 

after failure of inverse H&S with neckline just below 12k now there is an option for another try after getting to around 10800 area completing head and retrace can form right shoulder then. Long after breakout above the neckline, possible retrace from below the mofu and confirming the neckline

ciekawy

looks like retest of the blue trend line which was holding well so far yet with some false breakouts. we are also still in the local uptrend channel so if falling further the 8600 area could be the support to keep the uptrend going. this is also a new month so testing support sounds reasonable

ciekawy Updated 

Here are more thoughts after having a second look on the big inverse H&S: - possible range of this formation could be 21k + - dark blue up-trend line (the one acted as support at the beginning of today's candle at 8650) is not just local, it goes all the way down with more "false break downs" like the last shoulder (you can zoom out the chart above to see this) -...

ciekawy

just to illustrate zoom out from the other chart

ciekawy

is it a bulltrap now and is the continuation story from the yellow circle gonna repeat - or - should we go down to 50% - 8100-8000 area to retest the breakout from the downtrend? volume is quite decent so this should give pretty strong confirmation (also in case of break in back to downtrend). I saw some analysis comparing current situation to a 2014 when the...

ciekawy Updated 

possible range of this breakout seem to be 9150