200 EMA adding to the psychological resistance...
4h BB along with 100 and 50 EMA adding support.
The pennant is getting tight, indicators suggest a breakout to the down side.
Will we first see the shorts get taken out? Anyones guess...
Support levels and trend lines beginning to merge.
Volume is weak, and the bears are feeling confident.
A close above 6800 needed if the bulls want to keep control...
The buy up in the 6400 area may be enough to hold the uptrend, although this looks like a play the responsible traders are going to sit out.
Going to be an interesting 48hrs.
(even if you could take trading advice from this neutral post, DONT!)
4h BB along with 100 and 50 EMA adding support.
The pennant is getting tight, indicators suggest a breakout to the down side.
Will we first see the shorts get taken out? Anyones guess...
Support levels and trend lines beginning to merge.
Volume is weak, and the bears are feeling confident.
A close above 6800 needed if the bulls want to keep control...
The buy up in the 6400 area may be enough to hold the uptrend, although this looks like a play the responsible traders are going to sit out.
Going to be an interesting 48hrs.
(even if you could take trading advice from this neutral post, DONT!)
Comment:
Might be time for a retrace?
2 attempts to break 7350 have failed. A retrace to 7100 may be on the cards,
A break above the downtrend line should trigger some short stops and may break the 7350 resistance. A close above would disqualify this pattern, and add some excitement to the bull run. Dont let this distract you from the indicators, which are expecting a retrace...
Might be time for a retrace?
2 attempts to break 7350 have failed. A retrace to 7100 may be on the cards,
A break above the downtrend line should trigger some short stops and may break the 7350 resistance. A close above would disqualify this pattern, and add some excitement to the bull run. Dont let this distract you from the indicators, which are expecting a retrace...
Comment:
Comment:
BTC has reached the end of the pennant.
The squeeze is on!!!
Up or down?
Indicators are not agreeing.
BTC is currently below the middle BB...
50,100 & 200 EMAs are all above, so is the ichi cloud.
3 respectable uptrend lines and a lower BB lie below...
All 3 of which BTC has had no problem disrespecting in the past.
MacD is nuetral... Stoch is bearish/neutral... RSI neutral
We are neither overbought or oversold.
SEC news lingering in the distance...
BTC waiting to be given a direction?
Its safe to say with this lengthy consolidation that the stops will be close by for both bulls and bears, and those liquidations will drive the break-out...
The squeeze is on!!!
Up or down?
Indicators are not agreeing.
BTC is currently below the middle BB...
50,100 & 200 EMAs are all above, so is the ichi cloud.
3 respectable uptrend lines and a lower BB lie below...
All 3 of which BTC has had no problem disrespecting in the past.
MacD is nuetral... Stoch is bearish/neutral... RSI neutral
We are neither overbought or oversold.
SEC news lingering in the distance...
BTC waiting to be given a direction?
Its safe to say with this lengthy consolidation that the stops will be close by for both bulls and bears, and those liquidations will drive the break-out...
Comment:
Massive resistance at 4200... a close above should be bullish, a few failed attempts to break the barrier will be bearish...
Massive resistance at 4200... a close above should be bullish, a few failed attempts to break the barrier will be bearish...
Breakout! Bull flag forming... possible rally to 7000?
We need to break 7000 to stay bullish.