Hello!
What an interesting time to be apart of crypto as this may be a determining factor of the next few weeks. Going to make this quick just because of where the candles are
SO!
Chart: H1 -- Why? To follow the overall path, we need to follow the footsteps.
Light blue: Daily Log Trend line
Red: 4H wedge (bullish) Not broken
Yellow: 1h Wedge (Bearish) - Broken
Green: Pennant (Bearish)
Purple: Daily Resistance
In my viewing of this, we will see a break downwards out of the pennant that is now bouncing off of the light blue daily trendline. There has been much movement back and forth and these chart patterns has my bias to the downside as my overall projection of btc is <$7,000.
I think we may see a volatile move downwards to confirm the trendline break for the daily chart.
Am short at $8,000. SL at 8105.
What an interesting time to be apart of crypto as this may be a determining factor of the next few weeks. Going to make this quick just because of where the candles are
SO!
Chart: H1 -- Why? To follow the overall path, we need to follow the footsteps.
Light blue: Daily Log Trend line
Red: 4H wedge (bullish) Not broken
Yellow: 1h Wedge (Bearish) - Broken
Green: Pennant (Bearish)
Purple: Daily Resistance
In my viewing of this, we will see a break downwards out of the pennant that is now bouncing off of the light blue daily trendline. There has been much movement back and forth and these chart patterns has my bias to the downside as my overall projection of btc is <$7,000.
I think we may see a volatile move downwards to confirm the trendline break for the daily chart.
Am short at $8,000. SL at 8105.