Waves Smart Contracts have just been released to Waves’ TestNet:
Looking at the 1 hour RSI, it is very clear to me that BTC still has not broken out of descending RSI channel since hitting its ATH. BTC next move is going to be crucial for understanding where were heading. And while its easy to want to be bullish on BTC, what I see so far, are some very bearish signals. Going to play close attention to this over the next couple of hours.
Watch for a break up or down here for verification. Im still neutral-bearish but if we break this descending triangle my sentiment may change. BTC is tricky tricky.
BTC BULL scenario - we already completed ABC correction and this was the start of wave 1. Retracement was a tad deeper and dumped off raises red flags, plus the head and shoulders top we had. We are currently at an apex of price action where if we fall under 9k, we can expect a drop to 8k. Possibly 76-7800 ranges. Thats a cold potential reality we might have to...
Also wanted to point out the the possible H & S forming on the one hour is a little concerning.
BTC working its way to my targets as expected. Healthy retracement, heading to 9k and then we should see some more upwards movement. Still long and holding all alt positions. #XEM, #XLM, #WAN, #REQ, #CLOAK, #ENG, #MANA, #OMG, #ICX, #LISK, #KMD, #EOS,
Beautiful entry here if you missed the last run up. Expecting some more consolidation, don't expect it to retrace much more and another bullish move up to the target.
XEM coming down in a strong BULLISH pennant for a FULL reset on the daily stochastic RSI. I expect this one to break out in the next few days. Entering a small position now, will be adding over the next day or so depending on movement.
As you can clearly see on the RSI that we in a bullish rising channel inside a BEARISH falling channel. I want to be super bullish on BTC, but it still has some proving to do before I can have 100% verification that we have resumed an uptrend. Gotta keep all scenarios open and keep an open mind so we dont get caught with our pants down. I was lucky to lock in...
btc fresh new move WAVE 1 complete. For this scenario to play out we need to see a retracement back to around 9,000, then we start wave 3 and its blast off up to 10k, assuming we finish up with a complete wave 5 that puts my finally targets of this move around 11,200. Look for a little retracement and consolidation for verification.
Falls in line with what I predicted, the real test will be the 9200 resistance on wave 5.
Trying to to analyze BTC to determine direction. A'lot of potential paths and scenarios. Not trying to get caught with my pants down.
Gearing up for blast off. Daily stoch RSI almost fully reset. Destination *UNKNOWN* GO LONG
upward smaller trend inside larger downtrend. Couple different options for BTC. watching for support or resistance breaks to time with alt coin uptrends. Short term indicators point to up but long tern indicators are pointing down. Possible no trades zone. #WAN, #ICX, #XLM, #NEO, #CLOAK
thoughts?
If BTC can't hold above the .618, my last chart and rise to 9200 is negate and were heading down another leg sooner than I hoped.