BINANCE:BTCUSDT   Bitcoin / TetherUS
Take a look at the chart. Volume pumps means whales (or whoever) are buying some longs and the price will go higher for a while untill they close them. That doesn't guarantee big price rise or uptrend. Just a temporary direcion/correction.


But the overall picture isn't nice. Critical line was crossed at 6450 breaking bear flag lower trendline down, now the chart just builds what was started earlier. Several options I see:
1. Price below 6250 and continue falling to 6000. In this case a bear flag patters goes on and we will see a pattern continuation flagpost all the way to 5000$.
2. Price bounce of ~6100-6150 and goes up to ~6380, than down, because that area has very strong resistance which won't be broken without good hype or momentum.
3. Price bounce of ~6100-6150 and goes up to 6550 - the upper line of parallel channel . Should go fast as otherwise 2nd scenario. After we'll see. Breakout possible but not further then ~6750-6800.

Example of bear flag pattern continuation.
Sep 18
Comment: Congratulations everyone! The less possible always wins for BTC so we are rising towards 6380 - the descending trendline started on 5th of September. If crossed over BTC is bullish again.

Just wanted to share with you that picture of hhow great works the trendline drawn by two spikes earlier before the fall.
Sep 18
Comment: As the price moves within a parallel channel yellow trendline keeps on working as SR.
Sep 18
Comment: Current price channel in 5 minutes timeframe
Sep 19
Comment:

Congratulations everyone! CBOE closed contracts under 6150 and now we are heading up. If you have seen that show live then you do not need roller-coster or anything else. That was a great SHOW!!! I hope you shorted before the move and had a great profit. But whales played it beautifully. Bravo.

Seriously. I think that should give crypto traders some experience of what may happen so they can't be manipulated so easily. Maybe less so obviouse shorts or same longs? And less emotions.
Sep 19
Comment: I'll leave this screenshot for memory. It was something I've never seen before. Full monty whales games. Now forward!
Sep 20
Comment: Still inside the channel, only correction for recent epic rise. No need to worry and short.
Sep 20
Comment: ABCD pattern in action
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out