ttrending

Bitcoin Sellers Losing Steam

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
As you can see in the chart, the selling has continued to slow since the initial sell off @19.8k

This doesn't mean that Bitcoin cannot go lower, however the trend is indicating that a reversal may be near.
Comment: You can also see the selling momentum slowing in this inverse chart.
Trade active: Here we go. Inverted head and shoulders has formed and we're currently at the neckline. Await for the neckline to break and close the day above $6,900 before considering going long. Inverse head and shoulders are actually a bearish pattern as they indicate strong resistance until they are broken. See the full idea here:
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.

Comments

ttrending bibboyne
@bibboyne, nope. Don't mix bases and wicks when defining a channel.
Reply
Bearish reversal intact. Still short on lower weekly levels. Here is our updated outlook:

Reply
ttrending InvestingScope
@InvestingScope, I'm not suggesting the reversal is happening now, I'm suggesting that the selling momentum has consistently been slowing heading towards a sideways or bull market. Predicting more down is like predicting another day of rain after a week of rain. It's easy to do, I'm more interested in the ideas that predict or provide data on when a trend change will happen.
Reply
ttrending InvestingScope
@InvestingScope, Ouch, this didn't go well for you did it? I'm so glad you were able to provide your "expert" analysis on my idea. Hopefully you and your followers didn't lose too much.
Reply
This is linear graph. It automatically means that sellers losing steam. Only log graphic allows to compare movements in 20k price and 6k price.
+1 Reply
deliciouspodo vadimtemnikova
+1 Reply
You see what you want to see fam
Reply
ttrending demon0192
@demon0192, sometimes you do, sometimes you don't. Best not to trade with a bias.
Reply
agreed 100% whit this shorters are overhyped same like they was buying on pump close to 17k and up they are already fully manipulated to short BTC now they time for smart money comes they will harvest easy money on all shorters same like they dump on fomed BTC buyers
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out