bottlenekdolfin

bottlenekdolfin

Heavy Ichi cloud, Trend lines down. 7.6k conservative 9k radical, we are not bullish.

bottlenekdolfin

The 4-hour has switched to a bearish Ichi cloud and the daily Ichi Cloud is very heavy. That doesn't mean it won't go up but if we combine the Ichi with the trend lines we see it's very unlikely to break the trend. I'm looking at a 6k target and a stop loss at 7.6k.

bottlenekdolfin

the bullish divergence went from 6.6k to 7.6k. I think it's done. I'm seeing trend mostly down and the only support i can draw is broken. short

bottlenekdolfin

good bullish divergence earlier. We'll ride the support upward. I'm expecting 8k. a $400 trailing stop loss is what i'm using

bottlenekdolfin

blue may be support, or we'll drop to purple. We could see $90 in jan

bottlenekdolfin

Going way back you can draw the green trend line which we now broke, I'm assuming we'll still be bearish for a while. The ichi cloud is heavy so even at best we would only go up to 7.9k

bottlenekdolfin Updated 

Two green trendlines, one from the downward channel and one darker one from way back in April 2019. I wouldn't say that the April trend line mattered until now, but we can clearly see the price working off of it. We'll drop to 6.6k lowest, you can stop loss at 6.2k. Target can be 9k

bottlenekdolfin

coming up to heavy support. We could be falling back into a falling wedge formation on the daily/weekly. We could be in a downward channel and climb back up to around 8.6k. I will be surprised if we drop bellow 6.4k. There's the green trend line and horizontal.

bottlenekdolfin

If we maintain this support we'll turn bullish for a bit, but I don't know if we will or for how long. My longs at 8.4k are screwed. the bullish divergence at 7.4k before the pump might hold. The MFI is making a lower low with our positions as a higher low. If you have the position then here's a chance to long, and stop loss below 7.2k. If you zoom out we've...

bottlenekdolfin

My strat says buy but the chart keeps going down. Hoping it'll stop and reverse soon. Might just break my strategy.

bottlenekdolfin Updated 

bullish divergence on mfi, SRSI looks like it's rising. i'll wait till 9.1k to take some profit but we might go to 9.9k so i'll wait some

bottlenekdolfin Updated 

Clear Bullish Divergence on the daily. This we can assume means we won't drop below 7.4k before we have bearish divergence. We are currently on the orange trend line with a few possibilities. We could form a descending wedge down to 8.4k before breaking upward. We could fall to 7.8k before reversing. Even longer term we'll be waiting to break through the purple...

bottlenekdolfin

Watching the SRSI and MFI for a bearish divergence to short. I'll explain what I'm waiting for. The price peaked at 10.4k and seemed to have a sustained high at 9.8k. I'm waiting for the price to rise above 9.8k where the MFI and/or the SRSI has a lower higher while the chart is making a higher high. Then I'll short. Trend lines are drawn to suggest where this...

bottlenekdolfin

still working in what seems to be a bullish divergence but that only meant we where switching from the bottom of the channel to the top. We still look to be in a downward trend. I could reasonably see it go to 10k or 8.5k. Will do more anal later

bottlenekdolfin

price is testing resistance, with good volume on the 4 hour. MFI seems to be pointing down, but still isn't divergence. I could expect a short here or maybe another higher high with bearish divergence. I'm expecting us to have broken out of a falling wedge long term and be bullish. I'm suspicious of bitcoins recent pump though.

bottlenekdolfin

I doubt we'll break the blue trend line, and otherwise the only direction is down toward support. We see bullish divergence on the MFI, which means we'll likely not make a lower low, lower than 7.3k. That doesn't mean we won't drop down close to the lower low again, I've seen it come awfully close. It is also why I wasn't urgent to long and missed out on the pump....

bottlenekdolfin

Somehow trend lines from long ago still make resistance and support lines. I'm not sure what'll happen next. The blue trend line I had removed because I did not think it would be relevant anytime soon, but there it is. Now I'm wondering if the purple or green trend lines will be support again. I'll throw the possibility of 8k on November 19th as an educated guess...

bottlenekdolfin Updated 

I see bullish divergence on the mfi and stoch rsi but it looks like we've had an over reaction. I'll need to wait for the price to fall back down again before I long.