2nd part of my scenario: a rising wedge = $9400 then $6900
The first part of my scenario link below had an Ascending Triangle (in white) and its Pullback (in yellow) (RSI 14 oversold) with a bullish target @ $ 9400 early June.
After that, I consider a bearish reversal at $ 9400 (RSI 14 overbought) with the formation of a taller Rising Wedge (in red) and its bearish target @ $ 6900.
DISCLAIMER: This is not an investment advice.
Do not listen to any "prophet". Invest only what you are willing to lose.
After that, I consider a bearish reversal at $ 9400 (RSI 14 overbought) with the formation of a taller Rising Wedge (in red) and its bearish target @ $ 6900.
DISCLAIMER: This is not an investment advice.
Do not listen to any "prophet". Invest only what you are willing to lose.
Trade active:
In the immediate future, little Rising Wedge:
Trade active:
The breakout of the "Little Rising Wedge" as I named it above has gone well, going bouncing on the oblique support of the Rising Wedge of my idea
The current $ 8400-8500 zone is thus normally a new good entry point (including on altcoins, see related ideas), to get the high resistance of the Rising Wedge:
ATTENTION: I put it however in red dotted lines, to play this long, it is necessary to place your stop loss on the eventual breakout anticipated of the Rising Wedge (sub $ 8400)
The current $ 8400-8500 zone is thus normally a new good entry point (including on altcoins, see related ideas), to get the high resistance of the Rising Wedge:
ATTENTION: I put it however in red dotted lines, to play this long, it is necessary to place your stop loss on the eventual breakout anticipated of the Rising Wedge (sub $ 8400)
Comment:
Trendline traced with precision, the wick at $ 8300 is not yet bearish ! both on Bitfinex (left chart) and Coinbase (right chart), but the alert is maximum (for the case of a bearish signal sub-$8300):
Trade active:
Sale at $ 8250 ... buy at $ 7950
Too many contradictory signals (bear/bull)...
RSI 14 which can make you think of the bear trap of early November 2017 (fun to see the fast pump BSV a bit reminiscent of the attempt to flip BTC-BCH on the bear trap of 12-11-2017)
But an RSI 14 that can also make think of the other 8 times since 2012
where it has been in its zone of over-buying long term, and which led to strong retracements (see my publication of May 29 dedicated to this indicator)
So even if I just accumulated Bitcoin on this action, I'm not calm and I prefer to refrain from saying more at this point!
Too many contradictory signals (bear/bull)...
RSI 14 which can make you think of the bear trap of early November 2017 (fun to see the fast pump BSV a bit reminiscent of the attempt to flip BTC-BCH on the bear trap of 12-11-2017)
But an RSI 14 that can also make think of the other 8 times since 2012
where it has been in its zone of over-buying long term, and which led to strong retracements (see my publication of May 29 dedicated to this indicator)
So even if I just accumulated Bitcoin on this action, I'm not calm and I prefer to refrain from saying more at this point!
Trade active:
A small chance to get the $ 8250 if the current pattern is an ascending triangle that works its resistance of $ 8000 with tightening the vise by the oblique up purchases:
Trade active:
Failure on this bearish signal, it feels not good:
