BTC : Sinister Rouge coming back for more - to even the score
Who feels like they have seen this Pattern far too much recently? I do.
Unless we get a solid short-term move above $7600 with Volume and close a green 4HR Candle at $7600 or above, I'll seriously consider a POTENTIAL turn-around. Until then, I remain Bearish.
ANOTHER Rising Wedge...probability we'll break to the downside again in the next 5-12 hours is huge. I expect to see some more Sinister Red in the Market soon - it isn't doesn't and is coming back for more, IMH0. If the Bulls can't protect $7200...let's hold on tight because we'll then see $6900 soon after
Good luck to you :-)
Unless we get a solid short-term move above $7600 with Volume and close a green 4HR Candle at $7600 or above, I'll seriously consider a POTENTIAL turn-around. Until then, I remain Bearish.
ANOTHER Rising Wedge...probability we'll break to the downside again in the next 5-12 hours is huge. I expect to see some more Sinister Red in the Market soon - it isn't doesn't and is coming back for more, IMH0. If the Bulls can't protect $7200...let's hold on tight because we'll then see $6900 soon after
Good luck to you :-)
Comment:
typo correction for above: "doesn't" should read "done"
Comment:
BTC has just broken the bottom of the Rising Wedge at $7320.
If you were working on a Rising 'Channel' instead, then $7300 in the bottom. You can see Bulls really protecting the $7300 price-point.
If we get an empathic break south of $7270 - $7280, then the Bears are off to the the races. The Bulls will no doubt try to protect $7200 as they have in the past, but I think the Bears will smell fatigue and blood by then...
Let's watch :-)
If you were working on a Rising 'Channel' instead, then $7300 in the bottom. You can see Bulls really protecting the $7300 price-point.
If we get an empathic break south of $7270 - $7280, then the Bears are off to the the races. The Bulls will no doubt try to protect $7200 as they have in the past, but I think the Bears will smell fatigue and blood by then...
Let's watch :-)
Comment:
We just got the break of $7280...Bulls in panic mode now protecting $7200.
Comment:
Bear-flag after Bear-flag after Bear-flag after....
Well, you get it.
Slow grind downwards. Bulls making this harder and longer than they have to.
Bears: "Shall we do this the easy way or the hard way?"
Bulls: *Blank stare"
Bears: "The hard way it is then"
Well, you get it.
Slow grind downwards. Bulls making this harder and longer than they have to.
Bears: "Shall we do this the easy way or the hard way?"
Bulls: *Blank stare"
Bears: "The hard way it is then"