observation : bitcoin has left many of us surprised here, is this disbelief ?
observation : seems like bitcoin has lost steam & could face a sharp rejection if it fails to bounce hard, maybe good time to accumulate shorts?
Chart needs no explanation. It's a 'what if' scenario, user discretion is advised.
OBSERVATION: boy, the way bitcoin is hugging the upper Bollinger Band, its peculiar, it definitely has bullish intentions
OBSERVATION: Bitcoin could very well pull up from here & go sideways, but overall this 5 month run needs a healthy dump. Maybe 10k region? it would be a steal at 8k.
OBSERVATION : Rocket emojis in your mind? Well sure market is bullish, but a short term dump is possible here IMO
OBSERVATION : So as expected, 6hr bullish indecision (rising wedge) failed, to give us this solid structure. This was necessary to induce confidence for the next leg up. Now expecting reversal.
OBSERVATION : Only Short Trends are forming, quick pumps & dumps indicating bullish indecision. This structure needs to fail to induce enough confidence for the next leg up.
OBSERVATION: so we had a wild run & looks likely we gonna chill(avoid dumping) for a while. If the channel is respected, it will keep the trends short. It has a 5% width tho, which is enough to catch a couple of good 1% trades on high leverage, but caution is advised.
OBSERVATION: Bitcoin is being bitcoin, flash dump to buy zones & then reverse! specially if it's a bullish market. It has a beautiful structure, I think we gonna go for that pink line again!
OBSERVATION : So as expected, we hit that pink like, we also hit the 12k mark. Took many good high leverage trades in this run. Now expecting bounce from the 6hr Lower Bollinger Band. Larger Outlook = Still Bullish
Observation: Look at that 1min chart, it does not look done, rather its forming a solid platform to launch from! No Targets this time, honestly don't know what to expect :-D
OBSERVATION: So we left No Trade Zone & took good trades. But its not over yet. 6hr says we should push some more & tag that pink line, or blast though it.
OBSERVATION : Mild correction was expected, it happened. Overall picture is still very bullish. So either we bounce from here or tag that pink line first.
OBSERVATION: This is a crucial juncture. There is fear in price action. If we don't bounce here immediately, a short, mild correction will begin.
Observation: Bitcoin is yielding these fear wicks, but the dump is quickly bought up & the push continues. Historically this has been very bullish.
Observation: Bitcoin is acting bullish & stable in this sideways No Trade Zone. Can easily pierce the upper Bollinger Band, form where it can continue to push up in a super bullish scenario. 12k seems like a short target from here.
Observation: Bitcoin has been acting super bullish. Expecting one more good spike here, then sideways consolidation, we call it the No Trade Zone in Bitcoin1% world & after that expecting XBT to go for $12k