Solokin

Solokin Updated 

**ragel** You asked for it, so here it is. It appears as though BTC could potentially be forming a cup and handle. I'll be honest, I don't believe what I'm seeing as I don't feel like we've reached the bottom just yet before the next bull run however, I'm trying to be objective and just report what I see. If a proper handle forms it should not descend more than...

Solokin Updated 

If we see a breakout of the falling wedge to the upside which is likely, I would expect that breakout to occur somewhere between 5600-5100. From whatever point we break, we could expect to see an increase of approximately ~1400. I will update as the wedge may change as our second swing low hasn't completely formed just yet. So, for example if we breakout of the...

Solokin Updated 

Here we have a classic symmetrical triangle which is usually a continuation pattern but occasionally, albeit seldom is a reversal. Symmetrical triangles need at least two high points and two low points to be valid, so it would appear that we have a break-out to the upside which would take us up to ~7105. That being said, I have my doubts that the break-out isn't...

Solokin

Okay folks, let's get straight to it. So the flagpole and pennant from my previous idea was clearly valid. You can observe clear manipulation post breakout of the pennant followed by several attempts to prop up the price which resulted in a couple of Dojis. To me, this is the most clear and obvious evidence of manipulation. But no matter, the trend cannot be...

Solokin Updated 

I was analyzing my previous chart when I saw it, a possible flag pole and pennant seems to have formed. In a downtrend this is a VERY bearish signal. I'm hoping it's invalid. Typically we would calculate our target as the width of the pole subtracted from the height of the pennant. Eeeek. Great for shorting if that's your thing. Your stop loss would be at the...

Solokin

As most of us knew, at some point BTC would breakout to the downside from this rising wedge. Such is the nature of these things. Typically the target should descend by at least the value of the wedge height. Please setup stop losses if you haven't already tethered as a breakout to the downtrend can last longer than expected. I expect BTC to find support around...

Solokin

BTC, is still following this small downtrend channel for now. Like I've mentioned in my previous idea, unless she pushes past 7700, she will fall back into the channel. Simply not enough volume right now folks. Wait for confirmation. **Not fincancial advise, just an idea. Feel free to share yours. Cheers!

Solokin Updated 

Here is an update to my previous idea. I had mistakenly drawn the trendline from the middle of the channel. This chart better represents the channel that we're in. I still believe we head towards ~6900s. Until confirmation of a breakout from this channel I'm still short-term bearish. Volume just simply isn't there despite the RSI still being oversold. Wait for...

Solokin Updated 

This is simply a short squeeze. Volume isn't high enough to cause any real fomo action despite RSI indicating BTC is oversold. Likely to see a small bounce @ 6953 and then more downtrend. I think the bulls will show back up later this week for a little run however. Patience is the play.

Solokin Updated 

Heading to 6953 where we will see a small bounce. I believe Bulls will be back later this week.