Either way I think BTC is taking a dip.
Chart self explanatory, looks like we're in a distribution phase. Coming up on Phase D.
Last phase of distribution before we possibly move down to lower supports.
Ascending Triangle, Ascending Broadening Wedge and Descending Triangle.
Looking at the weekly chart I am seeing lots of reasons to short in the very near future. We are currently in a rising wedge on the chart and in the accumulation/distribution indicator (already broke support and retesting), bearish divergence, cross over on MACD, overbought on RSI and MFI, plus lots of money/stop losses to hit in the $3-$6 range. However it looks...
Long order in with stop loss at $17800. If support holds and if we can make it back in the triangle, I think we are long to at least $19800. Also bullish divergence on 4hr and daily.
Accumulation (Phase B)
Currently we have hidden bearish divergence on the 2 hour. Once we drop to 10300-10400 we will begin Phase B of reaccumulation after the recent pump up. Looking for upward movement over the weekend.
I'm short for now. Looking for upward movement over the weekend. We currently have bearish divergence, a rising wedge, and oversold on MACD.
I'm putting in a small short order for now. Thoughts?
Looks like we may have reached the bottom. This coin was just added on Binance yesterday. I'm putting in a small buy order now and will add more once it breaks the red trend line.
If only the lower support can hold and we can break out of this channel.We've had some good days of reaccumulation, plus good accumulation on the accumulation/distribution money flow indicator. Bullish divergence as well.
This has been really fun coin to trade! Can you guess where we're going next?
Looks like we are in two bullish formations. Looking for price to drop to around $11,528 before major upward movement. Since the Broadening wedge is typically a weak formation, I am expecting a drop to retest one of the lower trend lines before it's next bullrun. A little more confirmation with target zones from CME Gap indicator. TP for Bullish Triangle (based...
First off I would like to say that these are my IDEAS, aka my thoughts, plans or suggestions about what to do. We can all learn from each others ideas. Nobody knows exactly what will happen next in the markets. So instead of being disrespectful to others ideas, let's use these to gain more knowledge and spark new ideas between each other. We all want to make money...