More visible, more probable:
-Dashed lines; Possible forming patterns
-Solid lines; Confirmed patterns
-Dotted lines; Possible price-action trajectories
Apparently bitcoin is entering a consolidation phase. It just retested the resistance of the descending broadening wedge , but a bullish break out is not out of reach yet. Price action will have to evolve a bit more to have a clearer perspective on which patterns is currently forming in the immediate term. But for the time being this the best what I can show. I'll update shorter time frame views/snapshots during the day in the current thread as I usually do.
I reckon we might be seeing the $8k region again for a short time, if this DBW breaks out to the upside. Although I have to assume that it will drop again at some point. By following the trend of the FW . This is the 2nd pattern/dream within the main pattern(the end game), the humongous ST or bullish pennant . However the 2nd pattern can evolve or turn into a DBW or channel. Anyhow I'm currently bullish , short-term. But as you can see, more possible shorting opportunities might be ahead of us.
In case you're wondering which indicators and oscillators I'm using. She's called EMI 1 & 2, short for Epic Market Indicator. How to use, is in the description. You can use them like any other indicators. Search for 'epic market indicator' then add. I have recently published the latest versions.
-Dashed lines; Possible forming patterns
-Solid lines; Confirmed patterns
-Dotted lines; Possible price-action trajectories
Apparently bitcoin is entering a consolidation phase. It just retested the resistance of the descending broadening wedge , but a bullish break out is not out of reach yet. Price action will have to evolve a bit more to have a clearer perspective on which patterns is currently forming in the immediate term. But for the time being this the best what I can show. I'll update shorter time frame views/snapshots during the day in the current thread as I usually do.
I reckon we might be seeing the $8k region again for a short time, if this DBW breaks out to the upside. Although I have to assume that it will drop again at some point. By following the trend of the FW . This is the 2nd pattern/dream within the main pattern(the end game), the humongous ST or bullish pennant . However the 2nd pattern can evolve or turn into a DBW or channel. Anyhow I'm currently bullish , short-term. But as you can see, more possible shorting opportunities might be ahead of us.
In case you're wondering which indicators and oscillators I'm using. She's called EMI 1 & 2, short for Epic Market Indicator. How to use, is in the description. You can use them like any other indicators. Search for 'epic market indicator' then add. I have recently published the latest versions.
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Hoping for one of the EMA's to go through the resistance. Otherwise bearish reversal might be highly possible.
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Possible short target added
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Looks pretty bullish, not sure yet though.
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Hopefully bullish continuation signals will appear or no signals means trend continuation..
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All the EMA's are currently the current forming patterns, matter of time we'll know more concrete trajectory.
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1h view, would like to see green X. Then we can expect another break out to the up side soonish.
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Looking bearish atm.
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If a red X appears and closes with another confirmation. This might be signs of bearish reversal.
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If btc does not break out now, the orange dotted trajectory is what speaks to me.
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Looking bullish again
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But it's btc and it's been indecisive lately.
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Pattern is becoming more clear.
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Matter of time now...
