A nice pattern where each lower low does not get much follow through, and there are 5% bounces for the lower highs to form. This is the kind of pattern that when it reverses will more likely be an inverse head and shoulders than a big dump and V-shaped capitulation recovery. BTC still has not formed a low on the daily chart, and we are getting close to the over extended scenario that had us play the first drop on the 4 hour. We are on day 6 of a lower high every day, and I expect that pattern to break within the next day or two. Currently in a small ETH position and if we were to drop another leg down I would enter more substantial positions in ETH and BTC. Bears are also comfortably playing the lower highs , and hourly EMA resistance has been a nice guide for the sustained consolidation.
You are the MAN DAN! Nice big wick a few hours later, you read the chart perfectly.
benandrovich
⋅
You’re the man Dan!! Thank you very much for your analysis and effort! It truly does help and I appreciate it! Thanks again.
pkb6698
⋅
Hi. I am seeking advice from many famous traders. I think that if BTC reach the last peak in 2017 before 2020 Halving, there will be possibility that the four-year cycles of BTC is likely to change to three-year. What do you think, your precious opinion is a great help to many people.
UnknownUnicorn3511625
⋅
Jocoin
⋅
4HR hidden bull DIV completed! Bear Trap triggered below 10k