Hello traders and fellow gamblers!
--- warning: get bipolarity vaccination before continuing ---
As you can see in this 12h chart, the price structure is not very similar to April triangle but the RSI and sequence of divergences are quite similar. I think that bears learned the bulls game and are defending from their territory instead of attacking the supports aggressively. So we might get a different ending this time. In any case, the thick green line is a strong support and it won't break easily. If we don't break upward, we might continue ranging between 7k and 7.8k for a while. Even if the triangle breaks upward. it can just be a fake breakout.
For new viewers:
"BTC volume yesterday was 51.3k. It's the lowest since Apr 16 2017. Since 2014-05-19 there were only 5 days with lower volume than yesterday's. Not that this volume is in terms of BTC not USD.
source: data.bitcoinity...rkets/volume/5y?r=day&...
"
PS:
Conclusion is if you were certain about up or down, don't be. We might just go sideways. I am a total bipolar at this moment. Every $10 markup makes me a bull and $10 down makes me a bear. I am making this public so you don't get tricked by my next updates. BTW, this condition is endemic in TV and very contagious. If you are not infected as of now, I strongly advise you to vaccinate yourself.
I should be studying harmonics instead of publishing charts. So please don't give a like to this chart, else I would be tempted to make new charts.
/:D
Color name is corrected in image version:
--- warning: get bipolarity vaccination before continuing ---
As you can see in this 12h chart, the price structure is not very similar to April triangle but the RSI and sequence of divergences are quite similar. I think that bears learned the bulls game and are defending from their territory instead of attacking the supports aggressively. So we might get a different ending this time. In any case, the thick green line is a strong support and it won't break easily. If we don't break upward, we might continue ranging between 7k and 7.8k for a while. Even if the triangle breaks upward. it can just be a fake breakout.
For new viewers:
"BTC volume yesterday was 51.3k. It's the lowest since Apr 16 2017. Since 2014-05-19 there were only 5 days with lower volume than yesterday's. Not that this volume is in terms of BTC not USD.
source: data.bitcoinity...rkets/volume/5y?r=day&...
"
PS:
Conclusion is if you were certain about up or down, don't be. We might just go sideways. I am a total bipolar at this moment. Every $10 markup makes me a bull and $10 down makes me a bear. I am making this public so you don't get tricked by my next updates. BTW, this condition is endemic in TV and very contagious. If you are not infected as of now, I strongly advise you to vaccinate yourself.
I should be studying harmonics instead of publishing charts. So please don't give a like to this chart, else I would be tempted to make new charts.
/:D
Color name is corrected in image version:
Comment:
The triangle base is different on different exchanges. Also on log and linear scale can change its current level. On Bitmex, we already hit this support on log scale.
Comment:
The triangle support is crushed. I did not see this coming. I am sorry if I let you down.
Yesterday's volume in terms of BTC was 37.4k. Last time we had a lower volume than this was May 19, 2014. Seven save us!
same source as in OP.
For new viewers: