UnknownUnicorn1517510

UnknownUnicorn1517510

The 12h has a possible symmetrical triangle setup. The bottom is formed from a trendline going back a few weeks and the top from the latest high. This also coincides with the Bollinger Band width being at a lower value than it has been for awhile. The price move from this triangle would be ~$1100.

UnknownUnicorn1517510

Not in any position right now but maybe this earlier pattern is repeating. 1. Drop, 2. Bounce 3. Deeper drop 4. Bigger bounce 5. Another drop and tons of chop before breaking down.

UnknownUnicorn1517510 Updated 

This is my current thinking for Bitcoin. A fall back to ~$8600, followed by a move either way up to $9400 or a move down to $8300. This is based on the VPVR and Ichimoku cloud levels.

UnknownUnicorn1517510 Updated 

I'll be opening a long on a four hour close above the kijun. The kijun is currently at 8600 which I also believe to be an important support/resistance level. Target would be around 9200.

UnknownUnicorn1517510 Updated 

The four hour BTC charts look alot like a bear flag. I'm hoping it is not but be sure to keep a tight stop loss if you are long.

UnknownUnicorn1517510 Updated 

I'm long at the yellow support line at $10450. This area is important as it is a retest of the kijun. A bounce here should show bullish continuation. Overall I'm hoping Bitcoin is in an ascending triangle and will retest the resistance at $11700 and break higher. RSI is showing divergence so a bounce seems likely.

UnknownUnicorn1517510

Based off the recent ETC Callisto airdrop I'm expecting one more push before XMRUSD declines. ETC topped at 12 days before the drop and then rallied again 3 days later. XMRUSD has so far followed this pattern and has time for one more rally.

UnknownUnicorn1517510

Everyone who shorted within the red box shorted below $9900. A move above $10k will likely cause a short squeeze as shorters move to close their positions. I will be looking to go long above this box which should coincide with large upward volume.

UnknownUnicorn1517510

Shorts have been going down for the last few hours well longs have stayed flat. I would guess a bounce back to 10.2 - 10.3k is likely here. This would retest the support-turned-resistance at that level. I'm still bearish for now but this might be a good opportunity to 'BTFD'.

UnknownUnicorn1517510 Updated 

Bitcoin is currently in an upward channel with volume increasing. A upward break of this channel may push it past a potential resistance zone at $17550. RSI looks bullish and 4 hour Ichimoku indicates a buy. I opened a small long at $16700 and will be looking to add to it. Stop loss would be either the Tenkan or outside the bottom of the channel.

UnknownUnicorn1517510

Just an observation that the orange box kinda looks like a bigger version of the yellow box. A dramatic low that pierces the Bollinger bands followed by a reaction high that tests the downward trend and fails, then a smaller decline and another retest of the downward trend line. Could also be a downward wedge, in which case bitcoin would head upward.

UnknownUnicorn1517510 Updated 

Starting to look like a descending triangle for bitcoin. Volume has been contracting with lower highs and fairly stable lows. Might need one more retest of the hypotenuse but I'll be keeping an eye out for increased selling volume around 13300. Price target would be right around $9000. A strong break of the hypotenuse would invalidate this pattern.

UnknownUnicorn1517510 Updated 

Waiting to see if this bear trendline that extends from the previous high holds back the recovery.

UnknownUnicorn1517510

Bitcoin didn't do anything crazy yesterday but it does look like it might be in a descending triangle. It's also possible to see a symmetrical triangle(weaker IMO). I've also seen a few ideas mentioning a H&S pattern and the triangle is the right shoulder. Either way a close below the 16270 support would likely lead to further losses, well a close above the...

UnknownUnicorn1517510

So after Coinbase's Bcash fiasco yesterday here are a few things I'll be watching today. 1. Coinbase is allowing trades on Bcash again at 12(the vertical line) in post only mode. Since they halted trading last night it's entirely possible Bcash bag holders will take the opportunity to dump. It's also possible people who couldn't get in last night will pump Bcash....

UnknownUnicorn1517510 Updated 

Here are what I think are likely support levels if bitcoin retraces

UnknownUnicorn1517510 Updated 

Waiting to go long or short depending on which way this breaks.

UnknownUnicorn1517510

Bitcoin could be in a descending triangle that could complete the H&S seen yesterday. To break the triangle downward bitcoin would first need to break the support line its been following since yesterday's retrace, then break the lower support that is also the H&S neckline. On the other hand a break out of the resistance hypotenuse would be very bullish and could...