Currently ranging. I am looking for the inverse H&S/Ascending triangle pattern to play out. A confirmed break below the pink trendline would signal a further drop is in store. I will long once we break 6800 resistance and bounce off the retest with a target of 7700.
As per my previous analysis, you can see how the current Inverse H&S/Ascending Triangle and targets is the MOST F**KING PERFECT set up to form a larger inverse H&S which will take us to 9500. If this occurs we then form a cup and handle on the retrace from 9500 – 8400 which will then take us to 13K.
The smaller inverse head and shoulders is currently forming the head of the larger inverse head and shoulders pattern. I’d say it’s at least a week until we break out of 6800 which will send us up to 7750 which is our ultimate target. This will complete the larger inverse H&S’s head so from here we retrace back to around 7100-7200, however we should not break the...
A lot of people have asked about BTCs failure to close above the 6850 mark. Is this a fake breakout? Are we still bullish? Lets start by looking at the weekly time frame. BTC had a good close just above the previous weeks candle. This is a weak bullish signal. Unfortunately, the weekly candle close was not as strong as we wanted it to be. What about on the...
Currently trading within both an ascending wedge and larger ascending triangle pattern = usually follows trend; so expect a break to the down side. In support of this: • 3 tests so far of the 23.6 Fib = expect one last retracement to between 6300-6450 before a possible breakthrough. • Stoch RSI Oversold If we break to the upside of the 23.6 Fib wait for the...
Ascending triangle looks set to incur 6th touch point. From here we either go up the height of the triangle or down the height of the triangle. Down sends us to 56xx which I can’t see happening. Four hour chart Bullish indicators: Trading above Ichimoku cloud Tenkan / Kijun Cross Ascending triangle pattern 5 EMA / 20 EMA cross 50 EMA / 100 EMA cross Neutral...
Hi, guys. I’ve checked the resistance lines and it seems it wants to go down, since 1 month chart MACD is really bearish, and also, it has broken the 50 EMA line. As you can see, BTC broke the support and it has turned into a resistance. Will it break it or not? Stoch RSI 1D is at max. level, but it can just make a new high and it would be wave 1 of a bigger...
95% Bullish due to: Upward range now breakout 1D Pivot broken 1D Tenkan broken 5 EMA crossed 20 EMA on Daily Bull flag forming on 15 minute MACD crossed over Bullish Long Entry is Now! Target $7K
more inclined to breakthrough at the moment the critical mass is growing
Smart Money: BTC Selling Last Support Strategy – SHORT - Forming potential head and shoulders pattern. - High/Higher High/Lower High = Bearish. - If 3 tests of the 6420 purple support line. Short on a bounce off the retest of 6420 as resistance. Close at 6280-6300. - If there is a bounce then this is the third test of the 6280 identified via the red arrows....
Bitcoin continues to hover below the 6700 resistance. Things are still positive on a daily timeframe. We are working within the upper wick of the July 4th candle. Some range is expected as the bulls attempt to break through. We will be on the lookout for any bearish candles and adapt our scenario if necessary. Right now we hold to our targets in anticipation of...
If the channel support line does not survive allow a decrease to 6300 Otherwise, I expect an impulse to 6800 in the resistance zone
Pretty self explanatory. Waiting for short entry at 6800. Close position <6100 (or 6300 if you are conservative).
So earlier I was short, however if this smaller inverse head and shoulders pattern forms like the previous, then it will send us higher so I also have a long view on this - potentially to around 7400ish
BTC has now formed an ascending wedge. I think a retracement to the down side is likely given the recent moves up and the ascending wedge pattern. We should re-test the black dashed trend line we broke out of as support. I am short from 6620 to around 6350-6400. Stop Loss 6740 moving down as you see fit. In addition think the black dotted trend line might...
Reversal pattern Expect the formation of a flag or pennant with the test 6800
Hi, everyone. Some time ago I posted some “apparently” st*pid posts, since I was quite new in this world. But now that I’ve checked them again, I can see I wasn’t that wrong regarding my targets. Still remember people calling me noob (I was, in fact), because they said to me I was wrong and LTC wasn’t going to go under $100. Well, it went under 100 dollars and it...