too sick to type, i think a downward break is imminent, chart says it all.
markets are so addicting, watching this with over 98 degree fever...
**usual disclaimer** this not a buy/sell recommendation!
inverser H&S pattern, paid out well for me, but now...
Bitcoin has failed to break the structural downward channel top.
if the support at 10,250 (200 MA and 50 MA convergence) breaks followed by the mid channel support of 8,900. we may see the test of the bottom trend line.
as for now, now im waiting for further price developments.
finally the inverse H&S is broken, as well as the 100 EMA, which to me is a strong enough reason to go long
TP1: 10,000 (psychological and resistance level)
TP2: 11,900 (neck to head distance)
stop Loss: 7,880 (lowest shoulder value)
- This information is not a recommendation to buy or sell.
- I am not a pro trader, but someone learning...
Dash Purple: structural downward trend line
Dash Brown: Long run channel that broke out in November
Yellow Time Frame: Chinese New year holidays
Sitting in the Middle East, for the last 3 days, i have seen the western markets be bullish, specially after the US Senate hearing and bring the BTC market up and the Asian markets bring it down,...
So I have had a look at BTC, link below, to address the question in my mind and maybe others out there too, are we at the bottom? and while BTC to me is a bit unclear, I'm looking at the ETH, the second most dominant chain with (~22% share of the crypto world).
As you can see, we are technically currently at 22 Dec 2017 levels, the nearest level that...
BTC has really been one hell of a journey. With its immersive rise, fueled by media hype and retail investors jumping in, carrying BTC, all the way to 19,000, and then the 40 days of hell that have seen back to back "bad news", be it repackaged Fear, Uncertainty and Doubt (FUD) or "fake news" or genuine the great fall of Jan'18 has tested every self...
Dark blue line: BTCUSD price
Light Blue Line: Key support/resistance level @ 0.90
Green dash lines: downward trend
Black solid lines: Pattern formation
Orange solid line: possible 4*7 = 28 period EMA
Bold pink line: Target price @ 0.56 by 6-10 Feb
1. XRPUSD is basically reacting in line with BTC, just like the overall Crypto...
Structurally, BTC -8.93% is in a downward channel (duh...) and i feel that the bear flag can breakout towards the downside and testing the bottom of the channel around 7,600-7,800 level, i feel that the lower channel trend line will hold if volume picks up, if it doesn't then my estimate for a based on a dead cat bounce triggered Feb 1 with the Indian...