First of all i want to announce that i will not publish long term speculations in BTC Realtime ideas any more and we just analyse possibilities of short term here.I will post long term BTC analyses in another ideas.
So let's see what we have for next 7 days in chart.
As you see i have arrows in 3 colors.Black,Orange and blue.Let's look at orange arrow first.
You remember that we had 3 iH&S in BTC Realtime #6.Unfortunately we stuck in first one yet and couldn't complete right shoulder yet.Look At next week idea.
What is important is iH&S theory is still in play,even if it is a rare possibility.As you can see in chart below we can complete right shoulder and come back to game like orange arrows.
After Orange is time to look at Black arrows that have much more possibility.As you can see in chart bellow we formed a with movements of last days that is a .look at it,i draw it with red line.
When we zoom in more we can see that we have another triangle in it that we stuck in it from 2 days ago.
I talked about it much in last updates of BTC Realtime #6.As you can see we had many efforts to break in in both side but every time we just failed.We had fake break out in both sides too and we are near to confirm its new break up.Need to stable here above this triangle and continue moving up.
And Blue arrows.As you can see in chart bellow,maybe we have a bigger symmetrical triangle here instead of .
This is a continuation pattern and have much possibility to back us to downward but i want to be positive now till i find a better reasons for being negative.
We need to monitor chart now and decide what is best to do.
I will update this as soon as find a new sign,like always.Thanks for togetherness with me,Please like this idea if you enjoy my analyse style and work,don't forget to leave a comment below for me to help knowing your opinions better.
Blue ,Orange or Black ,that is the question. Many people fall of last days bear trap,it's time to BTC show us how much they loose?As you can see we have 3 color of arrows in chart. Further moves in favor of any of these arrows have different meaning.
If we continue to go up like orange one,we will have a full iH&S; waiting to confirm.
If walk on black arrow,we will stuck in a bullish ascending triangle.
And if we walk on blue we will have a continuation symmetrical triangle that can easily move us lower.
Let's See what will happen.
More than anything we have patterns and areas that evolve themselves all time,these days.A symmetrical triangle to an ascending one,a bearish wedge to a channel,a resistance to a temp support and vice versa.Market Slowing its movements and show me have more interest to move in horizontal.
It's a long time that i remember this fact that before any new trend we need to stabilize first and then start a new trend.In many aspects i prefer market continue move forward in a limited range for a while to give more meaning to its different areas and patterns.We need market to believe in some support and with trust in it put new moneys in it and help to start a new trend.
Somehow i expect a range movements between 6000-7200 is a ultimate stabilize area fpr BTC.MIners continue to mine without loose anything,people start to believe in it again and even traders can earn more healthier and safer.
BTC climbing slowly and as you see it can't pass resistance area that i draw.after that BTC must break blue line to make good news for us.
Somehow we are reached upper target in overbought section of RSI 4H with lower price than last week.we have a bearish reversal in RSI too that show it started to recover itself.
Don't get excited,we need to break resistance above first and have much distance to golden cross now.
It's time to work on second iH&S.we broke many important resistance with this bounce,even we jump from our wedge.look at it.Dashed lines
Remember when i mentioned this?In BTC Realtime #3.excactly 1 month ago.look at it
We are broke that wedge now and we have to test it now as a support.very good volume in market now,we need to hold this achievements now.
It's a bearish wedge and BTC must run from its limitations.For few hours i tried to deny this but BTC need to break this immediately and continue.If we stay in it,for sure we drop to 7300 at least.
We are exactly at meeting place of this two line.Great Resistance
As you see we are already in neckline,don't need to be much strict on this,don't need to reach 7800 exactly,we can start to form right shoulder from here.Don't panic if price start to drop,move your stops below 6790 and be relax.
H&S or iH&S ???
Finally we entered last weeks of second month.Guys, BTC Realtime #8 is out.
Waiting to start in your telegram channel. :)