BillCharison
Short

BITCOIN, Difficult Situation - Let's FIGURE IT OUT!

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
The latest most unambiguous situation on $Bitcoin. The following picture corresponds to a set of theories of accumulation/distribution . We have a double level of support that differs in density of the volume of trading during the moving through it and through a double zone of resistance. The closest levels to the middle of the channel have the property to be decisive for traders trading within the channel with the ability to save a deposit by buying or selling after the price returns to the internal zones moving along the flow the current position. And external levels serve as a signal to exit the channel, depending on how the market reacts to them. If the price is traded inside the extreme channels (upper, within $9580 - $9660 and lower $9235 - $9380), closing in on the appropriate level, this stimulates the continuation of movement with an impulsive dash towards the level that attracted the price.

In our case, the price has still rather poorly managed to demonstrate its character in the area of support zones, therefore such a scenario may seem like preparation for the creation of a strong reversal pattern, or reversal scenario in favor of the LONG position. On the other hand, we remember how the price behaves in such double channels and how to analyze the breakthrough the accumulation/distribution channel.

Let me remind you that when the price is pressed against the extreme levels of support/resistance , followed by breaking through and fixing - a strong signal to continue the trend in the same direction. A strong reversal pattern for a hike upwards can be either a triangle with a flat base on top, or a double bottom in the double support area , or an inverted H&S with a head top in the area of $9235, and margin in the area of $9380. In the case of the H&S , we will see a further flat. longer than in other situations. This hour, the price priority is downward, as the price is below both resistance levels with the direction vector downwards.

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Volatility still remains low for Bitcoin. According to the CH ATR itis around 0.6%. However, BTC is gaining momentum and approaching R1, a key resistance for further increases.

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While confirmed by the assumption. Everything goes according to plan.
+1 Reply
follow me making a signal for btc right now
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Look at 2017 blue uptrend channel that still playing very well as resistance/support on 2d chart, can we say, previous resistance turned to support?! 2d hidden bull div in play.
+3 Reply
Bitcoin will have the lasst pull-back to $8,800 before it pumps like it did in 2013 and 2017

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Just checked your latest 20 or so TAs. It made me wonder how come you guess the price movement wrong 90% of the time. A simple coin toss would give much more reliable results.
+8 Reply
@calyxim, just checked your latest 20 or so TAs. But I found out, that you didn't even published 1. It made me wonder how one can blame others who at least try their best to serve ungrateful people like you, who don't do nothing at all but trolling. Get your things together mate..
+1 Reply
calyxim Cash-Dash
@Cash-Dash, when a chef serves you horse c*ap would you just eat it without questioning because you don't cook?
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@calyxim, comparing someone's TA with horse c*ap, especially in hindsight and if they were wrong, just approves one more time how ungrateful you behave.. ;)
+2 Reply
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