Jocoin
Short

Classic bearish div on daily confirming rally pause at 12/12500

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
After 7800 bullish hidden div spotted perfectly on 1,2d chart 2 weeks ago now its time for classic bearish div on daily confirming rally pause at 12/12500 area in a matter of few days
but at same time this is going to be a healthy correction not a crash like everyone calling and the bullish trend will resume in only one condition which is not breaking 10600/11000 area must stand for reversal by all means. I hope this helps.

Previous idea:

Original idea:
Comment: Don't get excited now 13400 hit

Expect retrace very soon we got bearish div on 1 hr as well as on daily
The area between 11400/10800 should not break for trend continuation


2d bearish div as well
Comment: What a dump to 11600 after 13800 hit thats another great call

As i said retrace is coming soon and it did in few hours and i mentioned for trend continuation 11400 10800 area must not break down it so for now i expect consolidation for about a week in this range and lets hope it stand for reversal
Comment: We got dump just in time as predicted to support area mentioned

After my last update about btc hit 13400 i told you guys to not get excited especially after we got 1 hr bearish div supported by 1 day and 2 days bearish div

So in few hrs btc hit max fomo at 13900 and dumped hard to 10400 area as i said in some previous ideas that I am expecting rally pause and retrace for a bout a week range to calm down to area between 11200/11400 to 10400/10600 and it should not get broken with daily close for trend continuation and we hit it EXACTLY faster than anyone expected

So let me share my current view which is i see 10400/10600 is very strong and we should reverse from here as its my main condition to resume rally towards previous ATH forming strong wave 3 since from 7800 area

We got a MASSIVE hidden bullish div on 1 hr chart supporting my view and btc should consolidate for a bout a week in this range forming higher lows till it breakout

Warning if 10k broken expect blood and the end of this bull run

Hope this helps
Comment:
Comment:
Trade active: 10800 reached and we got higher low, as we expected, btc gathering strength the next days. we got 1 hr hidden bull div supporting it see below
Comment: Finaly! We got the daily close 10750
Comment: Hidden bullish DIV spotted everywhere! ( click to read the details )
Comment: We got lower low, higher low invalidated that was ABC correction but we still bullish, we were waiting for 1d and 2d daily close between 10500 and 11500 we got 1d 10750 and 2d is very close and its very important to be above 10000 / 10500 area its also critical 10k level not breached with daily close

Low time frame indicator always trick traders that's why we are not doing day or short term trades and we focus on higher time frames and the trend, here is another look:


Trade active: 2d candle closed above 10500 level as we were expecting which is more confirmation for the reversal as we noticed 10k level breached for few seconds and stood strong!!
Comment: 9800 touched this is mostly BEAR TRAP. Wait for 1d candle close.
Comment: 4HR hidden bull DIV completed! Bear Trap triggered below 10k

We got daily close 10750 then 2d close 10500 showing btc strong above 10k level but after btc went below 10k level again we should wait for the next daily candle close but we are still bullish because indicators now went very low and gave chance to form 4hr hidden bull div we were waiting for the last couple of days which is now very clear on rsi and macd
Comment: What a bear trap!! We did call for it guys, Btc reach 9600 area but daily candle close is above 10800 again!
Since we hit 13900 in Jun 26 we expected to consolidate for about a week between 10500 and 11500 level with daily close above 10k level and we got that, during this week the lowest daily close was 10600.

And we said many times 10k level should not be broken with daily close and so far this stand strong beside 4HR hidden bull div completed we can officially say now consolidation has ended and BTC is ready to resume uptrend.
Trade active: This was a perfect matching for 2d close 10500 forming wave 2 in general wave 3 according to my waves in this post, now expect btc to take down the 2nd BLUE resistance line in next days and once it close 2d candle above 12k area, I am telling you guys BTC WILL FLY
Comment: Bullish Descending Broadening Wedge In play!
Comment: Inverse H&S inside the WEDGE which is more bullish pattern confirming breakout in the next 1-2 days
Comment: The wedge still in play and developing as expected although it took longer time but the wedge resistance has been confirmed with 4 times touch lower low. As well as 11/11400 area holding very nice.

I am expecting breakout to upside in anytime very soon. Watch out!
Trade active: Watch out! We got the WEDGE Breakout! (click to read details)
Trade closed: target reached
Comment: Bitcoin free fly incoming! (click to read details)
Comment: As we said in last update, if the price go below 11500 with 4 hr candle close this will invalidate my view but We have got 4 hr candle close above 11600 twice and its very clear btc is reversing right now , We have got hidden bullish divergence on 4 hr which is very clear:
Comment: Not only 4 hr bullish hidden divergence but also 1 hr classic bullish divergence as well as macd crossover, have a look:
Trade active: Bitcoin bull run fractals on daily - Targeting Golden Ratio! ( click to read details )
Trade active: Reversal: Resistance Turned Support - ( click to read details )
@Jocoin Good job
+1 Reply
Jocoin IgorPorokh
@IgorPorokh, Thanks appreciate it
Reply
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