f-73

No need for fancy stuff. Simplicity works.

f-73 Updated   
BITMEX:XBTUSD.P   Bitcoin
We have a big and almost symmetric triangle on candlestick chart, which is further confirmed by RSI.

All you need to do is to sit and wait for breakout of both.
Comment:
By the way, if you zoom in a little and add a few indicators:


You'll notice that:

* price touched today the upper bound of the triangle on candlestick chart, which is a resistance
* price sits almost at the upper bound of the triagnle on RSI chart, which is a resistance
* price sits almost under upper Bollinger Band
* Price sits on the edge of Ichimoku Cloud
* Price sits just under EMA 50

That's quite some resistance ...

Don't pick a side now, it's not worth it.
Be patient.

Sit on the sidelines and play the breakout.
Comment:
Peeking inside the triangle.

We may have either a diamond top or a half staff.
thepatternsite.com/diamondt.html

Difficult to say.


Anyway, it means volatility is coming.
Comment:
Patience.
Comment:
Well, clearly a diamond top ...
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Rising wedge at target, price near support.
It's likely a pullback and a ABC orrection.
Next few hours will tell.

Comment:
ABC, as expected
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Comment:
Now likely to rebound
Comment:
We're back to the first half of december, with lots of manipulation.

Five times today we had an attempt of breakout rejected methodically.
It's getting a tad boring.
And ridiculous.

Comment:
The last one, minutes ago, was appalling.
Couldn't believe my eyes.

Sadly this volume allows this kind of stuff.
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