orbsatchel
Short

HOW COULD BTCUSD GO TO 6K

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
255 views
2
255 0
IF WE DO NOT RALLY FROM HERE PANIC MIGHT BE IN THE AIR.


AS I LAY OUT HERE WE COULD BE FORMING A HEAD AND SHOULDERS . I CLEARLY LISTED THE LAST HEAD AND SHOULDERS IN AN EARLIER POST WITH TARGETS FOR BTC . I THOUGHT WE WOULD GET THE BOUNCE AROUND 7700. IT HAPPENED AROUND 7300 AND THERE WAS NOT ENOUGH VOLUME IN THE BOTTOM OR A V SHAPE TO THE CHANGE IN DIRECTION SO I DO NOT THINK THAT WAS THE ACTUAL BOTTOM. I LEFT MY TARGETS FOR WHAT COULD BE THE BOTTOM ON THE CHART AND HERE I DRAW OUT HOW WE MIGHT GET THERE.

Comment: Update! This is following the guess pretty well and volume is thinning out at the end of right shoulder which is good for Bear Case. 8079 looks good for the bounce, then 8000 trenline bounce. I don't like how volume does not update on these charts.

BE READY FOR a break up or down here. Looks like down but BTC could be strong like bull Monday morning...
Comment: First squiggle hit! Pierced the trendline. There is also a resistance line just below I left of this chart and we bounced off it. Now only time can tell if we go up or down or sideways from here.
Comment: passed second target down. I put the next resistance 7720 on after I posted but here it is. https://www.tradingview.com/chart/IxBuSX...
Comment: I think the double bottom scenario is in play here. If we break this support line then I am going to cash. I am in an alt that is fairly stable and not that worried for now. I am hearing much more despair from people than the last time we were down this low a few weeks ago. NOW WE VOLUME> SELLERS AND BUYERS EN FORCE!
Comment: the latest line we broke in this chart it did not post last time
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out