BITCOIN - Something, That Has Not Happened For 4 Years!?
Hello!
The TRAIN is unstoppable! In this down-train, we had 7 bearish days in the row a small pause (doji) and three after that! Last time when we got 7 or more red days in the row was 07.2014, so, more than 4 years ago, a pretty significant yes!?
To me, to make a new TA. was very hard and I thought this is even impossible because we need to settle down to make a new and profitable trades! But still, for You, I pointed out some supports and some trendlines what do You need to watch!
There is a red box which means both:
* A bearish confirmation if we get 1day candle close in this area. This means that we have a break/close below the blue trendline and we have a break/close below the round number and strong support from past, $6000 + there we could see some massive panic selling!
If we get a close in this area then my old topic would be again back in the business! My thoughts about the "Clean area" from 12.10.2017 around $5k:
The 'Clean area' means that when the price rallied up and never looked back, the market doesn't accept those areas those areas are like gap's which get filled about 80-90% of the time!
* Bullish?! ONLY then it confirms SOME bullishness when we touch this area and we see a nice candlestick pattern formation and we get a close above the blue trendline. 1day pattern "Hammer", 2day pattern "Engulfing" or 3day pattern "Morning Star" (if You want to know how those patterns look, go and visit my topic "Important Candlestick Patterns")
We might see some pullback, soon we almost have to see some pullback because the market never drops like a stone and the market never rise like a rocket - zigzagzigzag but this ziiiggg is too long :D
My recommendation is, do not trade at the moment because there is just so much pressure, there is a selling pressure and there is also pullback pressure but this pullback would be so quick it may come from nowhere and it will ruin Your trades!
In the update section, as usual, I would like to start collecting confirmations from the shorter timeframes and hopefully, You learn something new from there to become a better trader in the future, so, stay on my channel and take the information with You!
PLEASE, don't forget to SHARE this, hit the LIKE and the FOLLOW button if you feel this topic deserves it!
That's the best way to support me and help to push this analysis to other users.
Best regards!
The TRAIN is unstoppable! In this down-train, we had 7 bearish days in the row a small pause (doji) and three after that! Last time when we got 7 or more red days in the row was 07.2014, so, more than 4 years ago, a pretty significant yes!?
To me, to make a new TA. was very hard and I thought this is even impossible because we need to settle down to make a new and profitable trades! But still, for You, I pointed out some supports and some trendlines what do You need to watch!
There is a red box which means both:
* A bearish confirmation if we get 1day candle close in this area. This means that we have a break/close below the blue trendline and we have a break/close below the round number and strong support from past, $6000 + there we could see some massive panic selling!
If we get a close in this area then my old topic would be again back in the business! My thoughts about the "Clean area" from 12.10.2017 around $5k:
The 'Clean area' means that when the price rallied up and never looked back, the market doesn't accept those areas those areas are like gap's which get filled about 80-90% of the time!
* Bullish?! ONLY then it confirms SOME bullishness when we touch this area and we see a nice candlestick pattern formation and we get a close above the blue trendline. 1day pattern "Hammer", 2day pattern "Engulfing" or 3day pattern "Morning Star" (if You want to know how those patterns look, go and visit my topic "Important Candlestick Patterns")
We might see some pullback, soon we almost have to see some pullback because the market never drops like a stone and the market never rise like a rocket - zigzagzigzag but this ziiiggg is too long :D
My recommendation is, do not trade at the moment because there is just so much pressure, there is a selling pressure and there is also pullback pressure but this pullback would be so quick it may come from nowhere and it will ruin Your trades!
In the update section, as usual, I would like to start collecting confirmations from the shorter timeframes and hopefully, You learn something new from there to become a better trader in the future, so, stay on my channel and take the information with You!
PLEASE, don't forget to SHARE this, hit the LIKE and the FOLLOW button if you feel this topic deserves it!
That's the best way to support me and help to push this analysis to other users.
Best regards!
Comment:
In the 15 min. chart we got a break below the Rising wedge and it confirms a lower low on the structure but remember this is 15 min. chart not the 1h or 4h chart where breakouts are more confirmed!
Comment:
....and looks like here it comes! Pressured pullback!
Comment:
Sorry for the delayed update but after a massive bullish engulfing candlestick pattern on the trendline - there was a very nice profit opportunity, bounce upwards $177 just for some minutes!
Comment:
We got a nice bounce upwards but to confirm the bullish momentum continuation we didn’t get the full confirmation because we closed below the $6500! Still we break the resistance at $6425 which is april month low, so, let’s see....
If You want to enter the trade (buy or sell) then please don’t, because we are between two strong price levels and I don’t know and I think even the price donkt know where it wants to go :D
If You want to enter the trade (buy or sell) then please don’t, because we are between two strong price levels and I don’t know and I think even the price donkt know where it wants to go :D
Comment:
My first reaction, if I saw a daily candle close like this:
Solid railroad tracks candlestick pattern, nice close above the key levels and tomorrow I would start to search buy entry, first would be a retest the $6500 we need from there nice bullish pa. and gogoo...but see You tomorrow!! Good night!
Solid railroad tracks candlestick pattern, nice close above the key levels and tomorrow I would start to search buy entry, first would be a retest the $6500 we need from there nice bullish pa. and gogoo...but see You tomorrow!! Good night!
Comment:
Here You can find my new topic:
This could be mean that if we get a close below the lower trendline then we might see another selling rally but like I said on the main post there is so mixed signs and so messy times at the moment that this could be also a bear trap because there are selling pressure but there is also the pullback pressure!