$BTC - Time to bounce?
Pretty clear to see what is shaping up here guys. Falling wedge is obviously a bullish pattern, but I am looking for more volume confirmation before really diving into a stronger long. Important pattern to watch though.
$BTC - Channel analysis
- Can clearly see BTC within a downward channel on 4hr here
- After a move upwards (blue arrow), this pattern typically indicates a bullflag
- HOWEVER, the volume on the move up that proceeds this channel was very weak when compared to that of the dump(s) before it
- This makes me very skeptical of the likelihood that this will play out as...
$BTC - Some thoughts
- Overall, this is where I would expect price to have settled on the drop
- Wold be a fairly routine "retest" if this low holds in the green zone
- However, some concern looking at VPVR:
- Typically want to see volume below > than volume above before a move
- Currently worried about large volume shelf in...
$ETH - Pennant meme
- #Ethereum trying to get something going nearing the apex of this bullish formation
- A strong break should see a push back towards 0.04 or so
- Not trading this, but definitely something to watch especially regarding $alt performance
- Zooming in a bit to spot this possible bullflag forming on the 30m
- Expecting a bounce in green zone or at bottom of flag before breakout
- Volume should decline leading up to breakout
- Traditional target would be the length of the flagpole (green dildo)
$BTC - Key Levels
- Resting on crucial support here for 4th time (ignore wick)
- Needs to bounce here or a breakdown looks likely
- If breakdown green box needs to hold or 6k is possible again
- Red zone is next major resistance
- Some great action across crypto past day or two, but don't forget to zoom out
- THIS is the real range that needs to be acknowledged, and the bear market continues until broken upwards
- Still towards bottom of range
- Still long from ~6200
• As long as there are no weekly closes above 0.0001878, there is no reason to enter technically.
• Fundamentally KMD is a strong project but is still in negative price discovery so you're much better off buying a confirmed reversal on a retest.
$BTC: Rising wedge?
- Sort of a meme wedge/pennant here can be seen after yesterdays dump
- Technically a bearish structure
- One more rejection in the red box would lead me to believe this breaks down further
$BTC: Morning volatility
- Some nice movement here for Friday morning
- Just made a move up on decent volume
- DANGER: Look at the trendline. Is this just the retest?
- Will need to smash through on volume or fall back down
Current resistance: 6525, 6675
Next Support: 6350
Interesting pattern developing as shorts approach their all time high. I am expecting this to breakout and trap or even liquidate lots of shorts. Hopefully this provides a catalyst for BTC to start moving back towards 7k.
Like most, I am expecting the 6800 level to act as an important $BTC resistance yet again. I have had this area shaded for about a month, and you can see the influence its had since then. Bulls will need to break this strongly to have any prayer over the next month.
$BTC - "Up or Down"
1. Yes I am enough of an asshole to post an up or down chart
2. Simple structure may give way to next big move
3. Notice declining volume within the pennant
Bull target: 7230
Bear Target: Retest of wedge around 6900