Good afternoon everyone, I'm taking a look at a smaller time frame today, the 15 minute chart. I like to use the 15 min charts sometimes to get a glimpse of a few things that get drowned out a bit in the bigger time frames. But I also get more emotional when I watch the smaller time frames so that is one reason I avoid them for the most part. I noticed if you go to these smaller time frames you can see pennants and flags that you definitely would not see if you did not go to these smaller time frames. I threw a fib on there along with the speed fan. We seem to be in a descending triangle pattern and according to investopedia its bearish. I am always skeptical so I will definitely be keeping up with my stop loss if I decide to take a position. I am thinking that daily H&S I was looking at the other day was a dud. If my trend line on this chart is right we wont rise past 10500 much before we bounce towards the bottom again. Although this is Bitcoin so we all know it can surprise us all. I love the speed resistance fan. It look like the 0.5 fan is current support/resistance according to this chart. Also taking a look at the RSI is on the high side or over sold which is bearish. But its the RSI on a 15 min chart so take it for what its worth. Daily volume is currently sitting at $15,122,149,749 and Bitcoin dominance is currently sitting at 69.85%. I would be cautious about going long here personally. Set a stop loss and you will be alright. Just remember its like Baseball... You do not have to swing at every pitch. But WTFDIK???
