these 4.2 extensions have been constant points of resistance, having just touched one we are due for another correction but considering the speed of this parabolic growth this correction is limited at best and likely will not dip below 10k if it even occurs at all
Short at: $9900 Target: $6450 Stop: $10500 Good Luck!!!
Short are: $5725-5750 Stop: $5780 Target: $5450
MACD on 1 H is ready to cross up. We have support from the EMA and the horizontal line from previous levels of support. Buy area $5800-5850 Stop $5750 Target $6500
This is an educational technical analysis of the past 10 days based on the trading I have been doing recently from patterns I have been noticing during price movement starting with our outbreak into the $5000+ pricing. - By creating a trend line it gives us an idea of when an outbreak or a downfall may occur I have done so using swing lows since the dip last...
We are currently in a pretty wide rectangle pattern. Once we break out of it I am expecting a big move - more than $500. Buy long on a break over the short horizontal line with the target indicated by the big horizontal line. Enter short on a break under the short horizontal line with the target indicated by the big horizontal line. Good luck and trade safe!...
Adding another chart for more details to the earlier one I posted. Continuation of the downtrend pattern with a triangle with a target of $5620 Pattern will be invalidated if we break with conviction the triangle to the upside. The chances this is a continuation pattern are 70/30. Good luck!
I think we are going to have a couple of days correction starting soon. The reason I picked the XBTZ17 (December BitMEX contract) it's because you can profit both from the price fall as well as the premium reduction. The current premium is around $450 which is pretty big for historical standards of this futures. Good luck and trade safe!
We have a positive divergence and should go up at least to the falling trend line. If we break the trend line will be bullish. Otherwise the recent drop should accelerate with a break of 3500. I give it 70% chance bullish for now.