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saadcrates
Mar 16, 2018 9:15 PM

Bitcoin 4hr Bearish Gartley formed. Possible drop incoming. Short

BITFINEX:BTCUSD240
Bitcoin / DollarBitfinex

Description

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Another Bearish Gartley formed from the drop of the one earlier this week.

This one is on the 4h and from a bearish drop, so we know it's legit. Unlike the last one in a tiny time frame, outside of swing patterns.

Double top on RSI with lower price. Volume shows divergence from price raise.

Projected price target - 7400-7500.

All feedback is appreciated.

Happy Trading.

-SJ

Comment

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Uptrend line suggests the price will likely only go as low as 8k before a bounce. If that far.

Unless we have a serious breakdown in volume.

Bloomberg warning of a death cross on TV constantly isn't helping.

Comment

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Well. Dump o'clock happened this morning again. Here we are, on the 300 EMA. Hanging on for dear life.

Comment

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Almost there, by $100. Currently it's hitting the .618 fib as resistance.
Harmonic PatternsTechnical IndicatorsChart PatternsBitcoin (Cryptocurrency)bitcoinforecastbitcoinpriceBTCUSDBTCCryptocurrencycryptocryptosignals
Comments
Condiments
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Dead wrong, stop feeding bullshit to people. All indicators are pointing up. Volume is fine.
saadcrates
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@Condiments, "dead wrong" and "bullshit" and "all" are great specifics, man. Eat more ketchup, and share more detailed insights. Thank you!
Condiments
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@saadcrates, No need, have fun shorting, ;)
saadcrates
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@Condiments, No need to make sense? Yeah we already established that. :)

"everything is pointing up, derp".


I don't short. I just tighten my stop-losses to protect profit. Always in the market in case it goes up.


Have fun with the Grey Poupon.

-
saadcrates
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@Condiments, Previous Bearish Gartley prediction on the 4 hr was 100% right on, by the way.

But hey. I'm here to learn. What do you know that I don't?

Stoch is almost maxed out and about to turn.

MACD is bullish. But volume oscillator is basically dead.

You expect us to go up without volume?
saadcrates
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@Condiments, Here's the 1 hr. Bearish MACD, Bearish divergence on RSI, and volume oscillator dead.

Which indicators are "pointing up"?


BitPersia
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@Condiments, Where are you dude? :))
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