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.
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:
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. www.tradingview.com/chart/IxBuSXQu/
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
BE READY FOR a break up or down here. Looks like down but BTC could be strong like bull Monday morning...