ssari

BTC Potential HS in Play

ssari Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
We are in a health consolidation mode as anything that goes up quick with volume will have a timely consolidation pullback.
I don't claim to be an expert but I like to share my ideas that make sense.

Observation:


  • Bullish trend (short term)
    1 hrly Candle sticks are above EMA 50 and 100 range, plus cross over over, indicating BULLISH

  • RSI in 4 hrly overbought conditions

  • Double bottom completed for a reversal

  • Volumes are appearing to return and at this moment, dropping off due to the consolidation


Conclusion:
Wait for the pullback to 4000-4100 range to jump in.
If candle sticks, RSI, MACD, etc indicate oversold, jump in otherwise wait for the next level of pullback to 3800-3900 before jumping in
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Bullish Pennant forming in the 3 m chart after hitting 4130 bottom(5)
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The action moving up might not have stopped yet,
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i am still bullish
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it looks like the pullback would be the 3900 range (probably over the weekend) to be complete that cycle.
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If we were playing odds favorite, my guess (as no-one knows)
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Is this the pattern before it goes towards 3000s
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Point 5 almost reached and now on the bottom of the triangle, Note: inverse H&S also broken,
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4 hrly volume has dropped off, I would expect another drop. Next stage 3700s
Trade closed: stop reached:
3280 is the middle of the next bottom stage or round about

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