The current situation

The current situation

Comment:

only valid if BTC breaks 9700

Comment:

sure look like BTC is trying to go for this move again

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lets see BTC get past 9525 for starters .

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or drop a leg lower - grrrrrrr

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If BTC breaks past 9525 this can be a very good day

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if not past it . it will drop a leg lower ...

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wow BTC got it

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A double top reversal can take BTC down to the double bottom ,
This support may not hold can break taking BTC down 8k area

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If BTC drops past 9500 im jumping off

Comment:

As the pink channel slopes downwards BTC can drop to 9359 and still be ok .
Under 9359 , the support may not hold and as this is a weak support area it probably means a fall to the 8k area.

Comment:

Note in 25 mins the 45 min candle will turn bearish . This candle turning bearish has taken BTC down for the last two days.

- Does this can mean a repeat ??
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The answer lies in the 9359 area , This area cannot be broken,
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Comment:

what bothers me is the 1 hour , 45 and 30 min are turning bearish and the 9745 resistance is coming up . This is the same situation as was observed yesterday right before BTC fell .

- Does BTC have a new plan ?

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The answer lies in the 9359 area , This area cannot be broken,
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Comment:

After 120 hour of mayhem the 12 hour candle has flipped positive and has laid down a buy signal .. Teh 112 hour candle may be confused as it only gets updates every 12 hours

Comment:

The one hour candle has turned bearish it has 6 mins to go before it makes a final decison

Comment:

the 45 min candle sits on a bearish candle and will drop the next one in 22 min.
BTC sits very close to 9745 resistance and has 20 mins to get past it before the 45 shows up.

Comment:

very careful here as it could be big red candle down

Comment:

if BTC goes through
targets are 10116 and 10500
- sequcence of steps - BTC will move from

a) move from 9747 to 10116
b) move from 10116 to 10212
c) Fall from 10212 to 9747
d) Move from 9747 to 10500
e) fall from 10500 to 8900

Comment:

its not looking to good for BTC today

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same distance dropped each time

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Yes - BTC may continue to drop for a few more weeks , but in-between many of these drops will be bull runs to earn addition BTC .

Comment:

BTC is going to test 9745 again

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possible inverse head and shoulders if moves past 9745

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this may still work

a) move from 9747 to 10116
b) move from 10116 to 10212
c) Fall from 10212 to 9747
d) Move from 9747 to 10500
e) fall from 10500 to 8900

Comment:

Aha moment -

i see what BTC is doing is its continuing the targets that it left off on Feb 22nd .
Thats whats odd about BTC , it pretends to skip the targets but it comes back and gets them a few days or hours later .

Comment:

so i think we have all the graphs just need to piece the puzzle together,

Comment:

Step C is incorrect - should fall to 9917 not 9747

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BTC broke upwards - good choice

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going to the top of the pink box

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found the graph
BTC is coming up and will hit the green channel . when it beaks through the channel it will go up and make a double top at around 11454

Comment:

But there must be some significance to the 10500 value as its cropped up several times in the graphs

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there could be be a significant retrace trace at 10500 - a , but in the graph above the double top will be at 114xx which may be the exit point .

Comment:

Aha moment!
10500 is the entry point for the channel above , Thats where BTC has to smash through

Comment:

The above is incorrect , 11454 is entry point for the channel and its also a double top . BTC will have a problem here .

Trade closed manually:

closing this one down as it a bit long and will update at link below.