DrDovetail

Whales playing pingpong between bullish & bearish h&s necklines

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
we are now going on 4-5 consecutive neckline fakeouts here as bitcoin continues to walk the h&s neckline tightrope shaking the weakhanded longs and shorts alike. It could finally break and decide a direction this next move or it could continue to ping pong back and forth and grind sideways all month. Let's recall how during the bearmarket the priceaction went sideways in ping pong purgatory for quite sometime at 6k before finally continuing downward after the 3 day deathcross finally occurred. I anticipate that we will end up going sideways here much like we did there until this time we see our 3 day golden cross(not shown here) which is quickly approaching. this idea snapshot is of thee 4hr chart. If I can get a snapshot link of the 3day golden cross to show the image it will be posted below. Despite the recent correction's bearish price action it seems very likely the 3 day golden cross will still be happening in the near future. . .and much like the 3 day death cross broke price action out of the sideways ping pong at 6k during the bear market,,,the 3 day golden cross I anticipate will do the same here only allowing it to continue upward instead of downward. For now until I see price pick one definitive direction or the other...I hodl and make modest buys on dips that have a complete lack of volume confirmation.
Comment: here is a link to the 3 day goldencross click on the link above to see.
Comment: as long as we don't see a huge dump in price we should see the 3 day golden cross occur within the next 1-2 weeks.
Comment: lastly thanks to @tantamount for the 3day chart snapshot. Give them a follow and/or some likes when you get the chance!
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