Fellow Cryptonians, Cryptonites...People of crypto...(Hi Alfie).
Watching BTC very closely right now. Switched from the usual 4hr chart to the 2hr chart on this one. Watching BTC at the $9400 level, really hoping for a bounce back here to complete the Inverse Head and Shoulders pattern we see drawn on the cart. Some other guys also have the inverse head and shoulders drawn but they seemed to be just a little early on their reversal call.
We can see that RSI is still in a downtrend channel around oversold areas. Could be a nice short term play in the making for anyone who wants to buy at around $9300-$9500 and sell at the Fib retracement levels at around $11,100 if the reversal starts to happen. I would set a stop loss around $8700 levels. I'm currently long on BTC.
The waiting game...hoping to see some moves in the next 24-48 hrs.
**Content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances**
Watching BTC very closely right now. Switched from the usual 4hr chart to the 2hr chart on this one. Watching BTC at the $9400 level, really hoping for a bounce back here to complete the Inverse Head and Shoulders pattern we see drawn on the cart. Some other guys also have the inverse head and shoulders drawn but they seemed to be just a little early on their reversal call.
We can see that RSI is still in a downtrend channel around oversold areas. Could be a nice short term play in the making for anyone who wants to buy at around $9300-$9500 and sell at the Fib retracement levels at around $11,100 if the reversal starts to happen. I would set a stop loss around $8700 levels. I'm currently long on BTC.
The waiting game...hoping to see some moves in the next 24-48 hrs.
**Content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances**
Comment:
Alright alright alright....As you can see on our chart above BTC is still witin the inverse head & shoulders pattern. We would like to see RSI continue to rise. Looking to see if we get some help from the bulls here in volume to keep the rise going.
Comment:
Target #1 Reached.
Comment:
Target #2 Reached.