My name is EveryOne Wild.
Me hut's on Bitcoin Isle.
The block's without a single chain
And the roof's without a tile.
Nevertheless I must confess,
By many and many a mile,
It's the most palatial dwelling place
You'll find on Bitcoin Isle.
Our fractal human world is dichotomous. It's familiar categorical division: This & that, here & there, male & female. Notice that the peaks and troughs of bitcoin has also displayed an affinity for "couplets." If this trend continues, the price will dip (gently) once more and then finally ascend to the second & last couplet. Upon reaching this second couplet, it...
In technical analysis, what were once support levels - should the price fall below that zone - are then turned into a resistance level. If the price range can ascend ~320 and hold, the lower 300's could become the new support zone, for a larger bounce.
2 hour candles are overbought, as is the daily. But the weekly candle is ready to rock, if volume confirms. 300 may be a magnet at these levels. If so, look for 320 as next target. ~272 area is currently support zone.
I'm still bullish long term, and we seem to have broke that consolidation wedge/triangle. More so, we're headed towards breaking that upper trend line of the bear market in due time. However, this overbought TA condition played out with a pullback the last few times. Heads up.
DO NOT OVER TRADE. People assume the best traders are the most active ones, and that we sit around all day staring at hundreds of charts. It's simply not true, but people love to over-complicate things. Pick a few reliable indicators, fine tune them to your liking, and follow the signals. Ignore the herd sentiment, the "fundamental" news developments, and all the...