This is a follow up to my Analysis titled 'BTC : Bearish Divergence ? Something to watch anyway" (see below for link if interested). I still can't figure out how to include chart screenshots in my 'Idea Updates', so if anyone can help, please contact me! :-)
Anyhow, the Bulls are respecting the Rising Wedge to the letter. I doubt they can hold out much longer.
The Bulls are running head-on in to the Sinister Rouge ichimoku cloud (4HR) which is offering serious selling pressure and Acid Rain (see on above Chart). And the 12 Day EMA on the 1HR is providing more resistance. Unless we get some Whale Volume soon or the some good Fundamental News etc, the Sinister Rouge will come back for more - to even the score.
The Bulls are trying NOT to close a 30min or 1HR candle BELOW $7485; the Bears are hoping the Bulls misstep or have a lapse in concentration.
I'm not Shorting quite yet because I never underestimate the BTC Bulls...but we could be visting $6900 soon than most expect, sorry to say.
The next few hours will be telling.
Stay sharp.
Anyhow, the Bulls are respecting the Rising Wedge to the letter. I doubt they can hold out much longer.
The Bulls are running head-on in to the Sinister Rouge ichimoku cloud (4HR) which is offering serious selling pressure and Acid Rain (see on above Chart). And the 12 Day EMA on the 1HR is providing more resistance. Unless we get some Whale Volume soon or the some good Fundamental News etc, the Sinister Rouge will come back for more - to even the score.
The Bulls are trying NOT to close a 30min or 1HR candle BELOW $7485; the Bears are hoping the Bulls misstep or have a lapse in concentration.
I'm not Shorting quite yet because I never underestimate the BTC Bulls...but we could be visting $6900 soon than most expect, sorry to say.
The next few hours will be telling.
Stay sharp.
Comment:
Don't be surprised if this is an impulsive Bull break soon to around $7630-$7660, followed by a steep sell-off.
Comment:
Bulls are trying to hold-off Bears until a MACD Bull-cross on the Daily.
Will Bulls be able to hold on? Or will the Bears overpower them to the downside first?
If we fall, first Support will be $7340. Then $7200. If we break $7200, we're heading to $7000 with the likelihood of a break-through to $6800 soon after.
Will Bulls be able to hold on? Or will the Bears overpower them to the downside first?
If we fall, first Support will be $7340. Then $7200. If we break $7200, we're heading to $7000 with the likelihood of a break-through to $6800 soon after.
Comment:
Big waterfall moment to the downside finally occurred... and with Volume.
...and out come the Wolves
...and out come the Wolves
Comment:
Bulls making valiant effort to climb back into the Wedge. Very impressive. If we close a 4HR Candle Inside the Wedge, it’s Game on.
Though notice the declining Bull Volume and Sinister Rouge Cloud bringing a headwind for the Bulls - but they haven’t shied-away from a fight yet.
Heading into the Weekend, have the Bulls left their move too late..?
Bulls are battling for a Daily MACD Bull-cross, which we aren’t too far from.
This fight could go either way, but I’m leaning 60/40 in favour of Bear right now.
Though notice the declining Bull Volume and Sinister Rouge Cloud bringing a headwind for the Bulls - but they haven’t shied-away from a fight yet.
Heading into the Weekend, have the Bulls left their move too late..?
Bulls are battling for a Daily MACD Bull-cross, which we aren’t too far from.
This fight could go either way, but I’m leaning 60/40 in favour of Bear right now.
Comment:
A few hours ago, we started a new Day. We're forming Higher-Highs (very slightly) and Higher-Lows (at this point!). If the Bulls can maintain this kind of Equilibrium Pattern over the weekend, and with a MACD Bull-cross looking likely very soon, then Bulls are looking 'okay' on the Daily, IMH0.
Comment:
Daily MACD Bull-cross occurred and Bulls pounced. Let’s see if momentum can be kept
