Bmello

Bmello

I posted this morning a bearish structure that is not going to play out. I'm looking for BTC to pullback to $6730 area take us back up to 8k. expecting a huge down move the size of the first leg back down.

Bmello

This morning we crushed all major moving averages yet again. Pre-Christmas trap? Three black crows on the daily, thats bad news, watch your back! I'm going to take aim at 5950 and attempt a ride back up to 7500. This is not bullish just corrective.

Bmello

This morning I was projecting 8400's to close to 9k. What arrived is this channel. Feel much safer aiming for $8310 right on the 987 daily EMA, and attempting a move to the top of the channel, but it may not exceed $8600 on this pass.

Bmello

We are clearly bearish,. All time frames. We have broken every normal moving average on the Daily. Currently struggling to cross the 610 EMA and under us is the 987 EMA. If we were to get a similar structure from the low 3k's we may traverse back down to the 2.0 Fib extension, at $6420. From there we have the potential to impulse back up close to 9k.

Bmello

I have been vigilant about not trading in this current range. I still feel we get as close to double bottom as possible, $3200 is my preferred bid, but it could floor anywhere in this range between $3150 and $3270 on Binance. If it all goes according to plan we get a final pump back to the top and dump. Not looking for any signs of trend-reversal. More down after.

Bmello

I'm rushing this out, because if we get this B down on the contracting triangle we may be heading for previous highs.

Bmello

All price is doing is attempting to break above my ascending trend-line, but it can't so it's grinding it's pathetic way up. Expecting the start of C if we manage hit $3950. Targeting the top of the blue box at $3580 give or take.

Bmello

This was one of the more interesting counts to determine. It may have been an extended 3rd, but regardless I'm going to label it A. Red doji on the daily chart give me confidence we get a decent pullback soon. I'm targeting $3430 on Binance for our B leg with the intended targets to $4400 before a deeper correction.

Bmello

Bitcoin could breakout after a small pullback into the $3700's