Bearish flag may hint right H&S shoulder.
Minor bullish flag/pennant got invalidated.
Price close to Daily upper BB.
Stoch RSI overbought.
Play safe.
Minor bullish flag/pennant got invalidated.
Price close to Daily upper BB.
Stoch RSI overbought.
Play safe.
Comment:
Uninpressive break-up so far.
No volume.
No volume.
Comment:
Volume confirming the break-up, at last.
Bullish flag within its target area.
Stoch RSI overbought on 1D, 14H, 4H and 1H.
Beware, critical area.
Bullish flag within its target area.
Stoch RSI overbought on 1D, 14H, 4H and 1H.
Beware, critical area.
Comment:
OBV 1D:
OBV 4H:
Soon time to short.
Good luck.
OBV 4H:
Soon time to short.
Good luck.
Comment:
May invalidate ascending triangle.
Pay attention.
Have a nice trading, time for some relax for me.
Pay attention.
Have a nice trading, time for some relax for me.
Comment:
Ascending triangle confirmed as well, no invalidation.
More patience.
More patience.
Comment:
The turning point is just ahead.
Unless bulls can pierce through the upper bound of the bearish flag ( invalidating it ) and the ascendinge resistance from the lows a correction is coming.
Odds favour the bears, in my opinion.
So i'm closing my residual Longs above the 7000$ mark, as near as possible to flag limit.
Good luck.
Unless bulls can pierce through the upper bound of the bearish flag ( invalidating it ) and the ascendinge resistance from the lows a correction is coming.
Odds favour the bears, in my opinion.
So i'm closing my residual Longs above the 7000$ mark, as near as possible to flag limit.
Good luck.
Comment:
Good to see Excavo posted today a similar view as mine:
Will see.
Will see.
Comment:
Awaiting signal.
Comment:
Out of rising wedge with no confirmation.
Price didn't manage to touch / test the double resistance area ( purple / red ) above. It may reach it later, better holding the short till a signal.
Keep an eye on on the small blue triangle for ashort term hint.
Price didn't manage to touch / test the double resistance area ( purple / red ) above. It may reach it later, better holding the short till a signal.
Keep an eye on on the small blue triangle for ashort term hint.
Comment:
Anyway, the "macro" picture as proposed 4 days ago is still unchanged.
The bearish flag is still in charge so far.
Price is currently very near to its supposed reversal zone.
Since yesterday i'm looking for a good short signal.
Patience needed. Unless price is gonna pierce through the resistance(s) ( roughly in 7200$ area as you can see ) i'm still expecting a strong correction.
The bearish flag is still in charge so far.
Price is currently very near to its supposed reversal zone.
Since yesterday i'm looking for a good short signal.
Patience needed. Unless price is gonna pierce through the resistance(s) ( roughly in 7200$ area as you can see ) i'm still expecting a strong correction.
Comment:
Did you spot it ?
Gravestone doji ( almost )
Gravestone doji ( almost )
Comment:
Next hurdle on the way down is the dynamic support ( light blue, above ).
Comment:
Anyway, thats support paints a rising wedge ...
Comment:
Pushing through support.
So far it's moving according to the plan.
Would expect some local rebound from this area, si keep an eye on resistance.
So far it's moving according to the plan.
Would expect some local rebound from this area, si keep an eye on resistance.
Comment:
Local rebound hypothesis is bound to this falling wedge:
Comment:
Rebound likely, approaching 0.618 FIB retracement. About 6790$.
If price pierces through that level it's actually *better* for our plan.
Yet i think it's less likely for the price to go down further without a pause.
Let's see.
No change to the overall picture, traversing down the flag.
If price pierces through that level it's actually *better* for our plan.
Yet i think it's less likely for the price to go down further without a pause.
Let's see.
No change to the overall picture, traversing down the flag.
Comment:
Bouncing as expected.
2 options here.
a) a lazy movement towards 6950-7000$ area on negligible volume, which would better fit our plan.
b) a movement up on good volume, which may end breaking up the wedge and testing the recent high(s) again. Meaning more patience needed,
Both options don't change the overall picture, option a) looks more likely.
2 options here.
a) a lazy movement towards 6950-7000$ area on negligible volume, which would better fit our plan.
b) a movement up on good volume, which may end breaking up the wedge and testing the recent high(s) again. Meaning more patience needed,
Both options don't change the overall picture, option a) looks more likely.
Comment:
Please like if you want to see this updated.
Comment:
Rebound as expected.
Low on the mentioned fib 0.618 area.
High ( so far ) just under 7000$.
It's basically a throwback to the previous support (light blue) as you may notice.
It's now drawing a pennant.
-- Like the idea if you'd like to see it further updated.
Low on the mentioned fib 0.618 area.
High ( so far ) just under 7000$.
It's basically a throwback to the previous support (light blue) as you may notice.
It's now drawing a pennant.
-- Like the idea if you'd like to see it further updated.
Comment:
Patience matters.
On the edge of the flag now.
On the edge of the flag now.
Comment:
come on.
It's about time.
come on.
It's about time.
Comment:
So far low was close ( about 8$) to the highlighted 6824$ support.
May rebound a bit from here.
May rebound a bit from here.
Comment:
Sluggish rebound to 7000$ mark and more down, according to the plan.
The bearish flag proposed in the OP post is already confirmed and broken down.
Correction is quickly unfolding.
The recent low in the 6250$ area coincides with the statistical *minimum target* for such flag. Its purely theoretical target sits much lower, at about the 5000$ mark.
For now Stoch RSI / 1D should complete its route down, keep on eye on that as it will eventually hint the end of the correction. In the meantime i would expect a stronger technical rebound.
Watch for minor patterns unfolding, as they will offer some guidance for the next few hours.
Good luck, it's time for me to finally fly back home.
The bearish flag proposed in the OP post is already confirmed and broken down.
Correction is quickly unfolding.
The recent low in the 6250$ area coincides with the statistical *minimum target* for such flag. Its purely theoretical target sits much lower, at about the 5000$ mark.
For now Stoch RSI / 1D should complete its route down, keep on eye on that as it will eventually hint the end of the correction. In the meantime i would expect a stronger technical rebound.
Watch for minor patterns unfolding, as they will offer some guidance for the next few hours.
Good luck, it's time for me to finally fly back home.
Comment:
Stoch RSI / 1D is nearing the bottom.
There's still some room down left on the RSI.
This correction was a great ride down so far.
It's probably not over, yet I'm going to close my short as i dislike taking any unneeded risks. Moreover it's almost a 18% swing now ... time to consolidate some profit.
Will reconsider after looking at the price action.
There's still some room down left on the RSI.
This correction was a great ride down so far.
It's probably not over, yet I'm going to close my short as i dislike taking any unneeded risks. Moreover it's almost a 18% swing now ... time to consolidate some profit.
Will reconsider after looking at the price action.
Comment:
Good timing, rebound at last.
If price manages to break consistently over 6400$ may bounce to FIB 0,618 at about 6600$.
Soon to say, but short time i'm inclined not going short again till 6750-6900$ is -eventually- reached.
If price manages to break consistently over 6400$ may bounce to FIB 0,618 at about 6600$.
Soon to say, but short time i'm inclined not going short again till 6750-6900$ is -eventually- reached.
Comment:
Price is compressed between triangle upper bound of the flag and the dynamic support.
"Macro" picture unchanged.