Well, here we are, the bulls are euphoric at resistance...again. Crowd psychology never changes and peopel tend to become irrational right at the wrong times. So, I am betting our top holds for now and we get a move down to test our first breakout zone. I belive firmly we will retest the second breakout zone at some point I just don't know when. If bitcoin explodes higher on heavy volume I will admit defeat. As most of you know I am often wrong and that is ok. I am here to learn, discuss and try and become a better trader. I hope you all are here for the same reasons. Thanks to all the loyal likers and commenters out there, knowing that a few people are looking at my work and following along is encouraging. Have a great weekend all and don't forget to drop a comment below.
Peace
Peace
Comment:
for some reason in the orginal chart I am not able to see the wick that forms the starting point for the bottom of the channel so here is a screenshot at a lower tf
Comment:
Expecting something like this to play out if we are to continue down. Chop in yellow, retest red and nuke to green...so far so good on the overall picture
Comment:
Well the red box did not act as resistance this time..however we are still channeling but just barely. The markets seems to want to go higher but I haven't seen the volume come in on the latest push. Bearish divergence could begin to come into play. If we break out of the channel I will close the thread, until then it remains open.
GL
GL