BTC is forming an hourly EQ pattern with a double bottom as support. We will likely see a break within the next 6 hours but until then expect low volume and a lack of price movement. If we get a bull break, we will be heading towards $8,880 resistance on the daily. If we get a bear break, we will be looking for further consolidation on the 4 hour, and for the daily chart to pull back in a need to form a higher low. Currently back to all cash and waiting for some more clarity this week. As highlighted in the video yesterday, this is going to be a key week heading forward as to whether or not our weekly higher low in the long term equilibrium has been set yet or not. Establish a game plan for both scenarios... what will I do on a bull break of this EQ? A bear break? Nothing is an acceptable answer!
@TheChartGuys - Dan, I just want to say thank you again for all you do. I've been following you for several months now, and despite having been a very successful long-term investor in equities, I've never understood the day-to-day movements in any market. Thanks to your patience, excellence videos, and your charting work, I'm beginning to develop the skills I've always wanted.
Before clicking the "Idea" button for this chart, I tried to evaluate what was going on, and I'm pleased to say I nailed what you observed - all thanks to you.
Thanks again for your great work, and please keep it up. You're making a difference to those of us who are following you.
Cryptonym_Real
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Dan I just want to add to 'irxproductions' statement above. Your courses, which I'm working my way through, and your daily updates are making a huge difference to me. Things are finally beginning to click. Thanks for everything.
cryptochemistry
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Thanks Dan!
mhfcrypto
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@TheChartGuys Equilibrium Pattern..? Could easily be a Double-Top signaling Bearish action upcoming.
Bearish Trend on the RSI, and MACD also Bearish. Anything could happen, but looks like we'll at least see $8350 again soon.
SKG79
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Thank you Crypto Jesus/Lance from Pulp Fiction :)
kardia
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You want to beat the bears? Then don't buy their coins. Force them to hold their bags. Prices will gradually increase, and shorts using leverage will be stopped out of their trades. In other words, they will lose. We cannot beat these guys as long as we continue to buy their bags. They laugh when we lose. Don't buy their coins!
Before clicking the "Idea" button for this chart, I tried to evaluate what was going on, and I'm pleased to say I nailed what you observed - all thanks to you.
Thanks again for your great work, and please keep it up. You're making a difference to those of us who are following you.