It is too early to say, but the bear flag may have already played out! If the next 4 Hour and Daily candle closes above $9700, price can see some upside to potentially even $10K. As always , keep an eye out for the volume. Happy trading :)
We ended up slowing inching back in to the previous support channel. The volume is nothing to write home about and at the moment we are creating an ascending an parallel channel, which is a small bear flag on the 4h and 1h. If the price is traded in this range for a little bit and we find support, I would be looking to trade to the upside.
As we expected, the continuation pattern played down, but the support pushed it right back up. If we can get back in and close in the above channels, it would be a short term bullish sign as the market would have showed us that the bulls are still here! Cheers :)
Price is making a symmetrical triangle after the dump. Symmetrical triangles are a continuation pattern and price is likely move down a bit from here.
One could argue there is a descending channel in the formation. I wanted to show a couple of bullish sentiment in the longer term with heavy support beneath us indicated by the VPVR.
The bear flag played out after to all. :) Watching closely for the daily close today to see if the support still holds up.
The price is creating an ascending channel that could potentially give some better prices to buy. It is not the cleanest flag, so not very probable.
Outlined in green is a good buying range.
The trend is healthy and is in the channel, the volume is there, multiple closes above 21 EMA, and looks very similar to the last pattern from 8.5K ranges. It is very probably that we continue up and even test the upper 10 K regions.
BTC-USD has a golden cross on the Daily today with the 50 MA crossing the 200 MA to the up side. I have highlighted all GOLDEN and DEATH crosses in the past to to potentially understand the future. From what I can see, if the 50 MA is moving further away (higher in this case) after the cross, for the following days to come ( so it's not a fake out ); There could...
The Daily candle close was within the uptrend channel after touch on our local support region. Looking to for strong bullish candle close with volume in the next couple of days to enter conservative long positions.
As expected, BTC broke down and is nearing our next major support zone. We have played this chart so well thus far, hoping to continue that trend ;). I am looking for some green candles with volume to trade to the upside. If not, we can potentially break this up trending parallel channel and break down from here.
200 SMA and 200 EMA on the 4H also suggests the same support range.
Another perspective with the Heikin Ashi candles to support bullish sentiment in the mid term.
We are finally staring to come down from the previous climb. Next support from $9.5k to $9,3K must hold to validate the up-trend back up to potentially lower $11K regions. Breaking the trend will potentially lead to larger correction.
I am looking to ladder shorts if it reaches $30 ranges as a more high probability trade. The Fibonacci lines up as well as strong resistance there. We can retrace back from there a bit, gain more support and potentially break all time high resistance this year.
The symmetrical triangle played out as a continuation pattern and price broke down. However, the bears did not have enough strength with such a small volume and the bulls were able to create a V-shape correction. This pattern usually mean we can look to the up side in the short term, I will personally wait till I see some volume as there may be many...
BTC forming what looks to be a symmetrical triangle after a fall. Which usually means price retraces down a bit more.