About me“Sometimes the isle was thick with savages, with whom we fought, sometimes full of dangerous animals that hunted us, but in all my fancies nothing occurred to me so strange as our actual adventures.”
― Robert Louis Stevenson, Treasure Island
See that compression occuring? Like a coiled spring we will soon break out.
Up? Down? The magic 8 ball says "Ask again later"
I've boxed the likely next zones.
note: I must have accidentally nudged the resistance line at the top; It's suppose to be on the psychological 4000.
That dump hurt, but we bounced at the orange 26 EMA, which also happens to be nearly inline with the red 50 EMA! If the desire is to have already locked in our bottom then we need to stay on this side of those averages.
Drink up me hearties yoho!
Unlike the last flag, we're not going to bang our heads against the psychological 4000 for long. Either we bust through and sail on to the next resistance, or people are going to start selling into the weakness and we'll head back to the prior pivot where we last accumulated.
The bullish scenario sets us up with a higher high, and a potential for more legs...
It seems some big players are helping keep bitcoin riding the current channel. I can't help be think we've been here before...
So the question is, when do we hit the shoreline and then have to paddle back out to sea? That 9700ish mark seems to be a spot to watch.
I was attempting to share how well RMI sniping is currently working on the 1 min charts,
but trading view wont allow me to share ideas for anything under 15min...
So here it is in 15 min... trust me it's much nicer on the 1 min.