TradingView
DatCryptoBoi
Jan 24, 2018 12:22 PM

Watch out bears! Bitcoin gearing up for a surprise move? 

Bitcoin / United States DollarCoinbase

Description

Watch out bears!

  • Bullish divergence on RSI
  • Sellers tiring of selling
  • Inverse H&S on hourly pattern
  • Double bottom / wedge on hourly pattern


A surprise breakout to the upside might happen in the next few hours. If it does expect the short squeeze to be violent

Contra indications:

  • Buyers are weary of getting pwned
  • Market is still (currently) decidedly bearish


A surprise breakdown of the lower trendline will signal more selling
Comments
DatCryptoBoi
Let's watch and see. It's broken out up over the rising wedge trend-line. Weakly, but according to market depth on Binance.com sellers have been filling orders all morning and price still squeezing up
severt
Sellers tiring of selling? This doesn't make sense at all. People sell when they fear of losing money. And they will do it time and time again... period.
Swatty
looks like H&S down not up
More