Look familiar? Two similar patterns, " Evening Star Doji" with very similar volume profiles. If the pattern continues, we should see a slow bleed making a lower low over the course of the new few days, followed by a bounce forming a higher low.
After confirmation of the Evening star doji, this current weekly candle should backtest the 3rd confirmation red candle...
What's up everyone, let me break down my chart for you.
Got filled at the top of the triangle resistance @ $6,792.3, with a few profit targets in mind.
We are closing in on a narrowing range, weekly Bbands getting tight and recently the 1D Bbands contracted to levels we haven't seen since 2016. With this push upwards, BTC was able to stretch the Bbands to the...
Rejected off $6450 ish to find a higher low in the $5900 range. Followed by a retest of $6450 for a rejection then a bounce off $6211 area where we will then test $6600. By then, the descending triangle resistance and 200D MA should be right above us.
Looking for long orders for ETH between $140- $160
Ill start scaling into a long just under $160 with the majority of my larger orders in the mid $140's.
For profit taking, Ill be looking at the $220 area to start taking my first bit of profits
We are seeing very similar price action to August 9th-13th:
Falling Wedge broke to the Upside ( Check )
Tower Bottom Reversal Patter ( Check )
Long Wicked Doji Candles ( Check )
Perfect Bounce off the 4H bear block / Green Line / ( Check )
From the wedge bottom from August 9th-13th, there was a 1.51% difference in the bottom there, and the new higher low (...
Higher Lows/ Lower Highs until we reach an equilibrium price and move sideways for weeks/months. Weekly Bbands continue to contract to all time high levels then we see a slow gradual climb up and pop.
I dont think we will ever see 4K
On our way up from our new local bottom at $6,800, we have managed to create perfect symmetrical triangles on our climb to 10k.
If it plays out, Bitcoin should expect to be anywhere from $10,800-$11,000 by May 13th-16th