Get started
mycotoxin

BTC _ Alternate Path to 74xx

Bitcoin (BITFINEX:BTCUSD)  
mycotoxin Updated   
BITFINEX:BTCUSD   Bitcoin
Trend Analysis
10
8
trendanalysis
BTC _ Alternate Path to 74xx
Comment:
This is the exact pattern that was run on the 15 mins candle before the bump up .

Here is the 15 mins version ,,,Hmmm makes me wonder

 
Comment:
15 min version with the same colors as the daily

 
Comment:
A head and shoulders at the bottom makes sense to reverse poor old BTC back up to greener pastures ..
Comment:
Also a clever way to break some shorts and longs ...
Comment:
so this move up has to be a Bull -Trap
Comment:
heading towards 6532 ...

6532
Comment:
keep an eye on this 15 min graph above as it updates quicker . IF BTC crosses the green line above then its probably genuine and BTC is being honest about moving up ...
Comment:
updated graph and made the green line longer so BTC can find it..

 
Comment:
Bitfinex gone for 2 hours

bitfinex.statuspage.io/
Comment:
there are a few options here ...

There a H and Shouiders up to 67xx and theres also a 9 wrapping up on the 4 hour which could lead to a 1-4 candle movement down .
The other option is after the 9 candle wraps up BTC sets off a new count in the upwards direction to complete the H and S.
- The 9 candle wraps up in another hour then we will know.

BTC - this looks interesting - which option will it be ?
Comment:
......if BTC break lower than 6495 then it will most likely be a visit to the 632x area .

But ....
If BTC remains above 6500 its going to complete the head and shoulders by heading to the 67xx area
Comment:
Either way ..Iv'e a suspicion BTC is heading to the 74xx area - its just being sly about it by taking a disguised path so as to wreck a few shorts and longs along the way ..
Comment:
Im going out on a limb here and stating that BTC is going to move past the 67xx area ..its been hovering in this zone for so long its going to move up past it . Plus that Head and shoulders is too good a deal to pass on ..buckle up and get ready for the move up.
Comment:
6652 currently but this move is incomplete till there a candle closing above 67xx or 71xx
Comment:
Note : BTC can drop as low as 6514 and still recover
Dropping below 65xx is a problem

BTC can drop as low as 6514 and still recover
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.