Weekly consolidation is due, these strong bullish moves take a long time to roll over. Still in a strong uptrend on all larger timeframes but a few things beginning to tell us to look counter trend. Thanks!
The weekly/monthly consolidation continues, allowing longer term moving averages to catch up and weekly RSI to give room for another leg down eventually (in my opinion).
Not much action to trade except alt coins while BTC goes sideways.
After BTC broke previous previous high 4170 and saw lack of follow through, we look at liquidity zones and see how large asks are filled by stop buys above the break.
But the chart depicts this as a rising wedge. We look for a 4hr bounce now to short into.
Possible sellers will be immediate and relentless into the holidays, and we see no trendline support. Not a...
To put things simple
Inverted BTC chart
Declining daily bull volume
Daily bearish divergence on RSI
Trying to break bull out of daily bull flag however not much follow through yet, may retest bullflag trend line. Likely to see some follow through however but exhaust towards 3-3100k support (resistance, in this case).
Next day or two will be...
For now this is a speculative pattern as it has not reached the neckline and begun to form a handle, however it's an early opportunity for some awesome gains.
Volume is beautifully rounding up as we've reached the end of ETC's accumulation.
I will be selling at neckline and buying upon confirmation of the bottom of a handle with a SL.
Volume declined toward bottom of the head and increasing as we approach neckline at 11.5k.
Everybody is too bearish as they call for 4k again on a $1,000 pullback. I believe we found our low for now.
If we fail to rally to the neckline we probably can expect an equilibrium on weekly as TheChartGuys goes over (check 'em out).