Price action in daily chart:
1. After 3 consecutive bear bars, market probably will dip.
2. Market never has 8 consecutive bear bars in recent years.(Maybe I am wrong, please correct me)
Now it's the seventh day, if market cannot climb higher than 8772 after UTC 0:00 tomorrow, it would be the 7th bear bar, which is rare. So I think the selloff may reach the limit...
Here is my last post: Did you buy some bitcoins here? :) For short term traders, they have already taken their profit.
Market should not go back to 11100 again, if it did, then I will change my thought. I will be neutral at least.
Generally I still hold the opinion of bitcoin future in my last post.https://www.tradingview.com/chart/XBTUSD/qtu1bk0z-XBTUSD-daily-chart-price-aciton-heading-to-12313/
But market is facing a correction in short term. Pay attention to the 11616 resistance and 11110 support.
I am sorry that I posted the wrong chart in my last post. Here is the right one.
I am a long vacation in New Zealand, so I can't write my thoughts on time... I am still holding my cryptocurrency. I bought some bitcoins 1.53% at 9289 in huobi.pro.
As you can see the analyse in the chart, bulls are taking control. They tested the apex of the big triangle and found...
Sorry that I am a long vacation in New Zealand, so I can't write my thoughts on time... I am still holding my cryptocurrency. I bought some bitcoins at 9289 in huobi.pro.
As you can see the analyse in the chart, bulls are taking control. They tested the apex of the big triangle and found support at the breakout point. Bears are waiting for market to get higher....
In the prior post "Price Action in BTC daily chart. BTC will find resistance soon."https://cn.tradingview.com/chart/SPRBTC/PmptAPWD-Price-Action-in-BTC-daily-chart-BTC-will-find-resistance-soon/, I said market
would probably find resistance in 9100 or 9800. And market did reverse at 9070 and sold off to 7850. I still hold the opinion in my prior post about the...
As we can see, BTC 11.78% broke out from a big triangle. Then it formed a 3-push down in a very tight channel. Usually after 3 pushes, market will pull back for 2 legs. But considering the channel down is so tight, I think BTC 11.78% will find resistance soon and go sideways between 9800 and 6800 for a week or so. Traders should better not buy any bull breakout or...
EOS is in a tight trading range now. Traders should wait for more information, more pull back to buy and more rally to sell.
In general, EOS is still bearish. It's possible for it to dip again and then form a double bottom.
Market found resistance at 7700 and went sideways down. It stalled at 20 EMA and formed micro double bottom. Then it broke up.
All this price action tells us: 20EMA will be an important support. So if market pulls back to 20 EMA, traders can buy it for a scalp.
When I am typing, market has got to 7.87 and found some resistance there. But bears should not be eager to get in. Just wait for more game playing between bulls and bears.
Market is in a trading range cycle, not tight bear channel like yesterday, so most professional are scalping here.
Be patient. BITFINEX:EOSUSD