Seemed like a mini Pump and Dump since yesterday... approaching the area where it could convincingly breakout and sustain all time highs or merely succumb to that resistance.
We need a major catalyst to propel this at unchartered territories.
In hindsight, should have just held NEO and avoided the stress of jumping from one altcoin to another.
There seems to be a rotation from heavy weights down to lesser traded altcoins
Heavyweights --> illiquid altcoins
Heavyweights have already broken out of consolidation and lesser traded altcoins (SUB, NANO, ETC) may follow.
Problems with trading "follow the...
I am just a newbie trying to understand things...
With the BTCUSD stagnating after the stellar rise from 6,500... people shifting out of BTC may see BNB as a possible "stable" asset to protect their gains.
This may help BNB break this wall after multiple failed attempts.
Need tight stops when dealing with possible breakout plays.
Break in the Dow Trendline
Looks like it is creating an inverted head and shoulder with the right shoulder as a possible area of retest in the down trend line
Should the Inverted Head and Shoulders materialize, it's target is that USD11,4800 area which is coincidently the 32% retracement level.
Just a noob, trying to understand things...
The Bear Case:
The recent "short squeeze", whatever that means, has propelled BTC at the area of the down trend line. It seems to be forming an inclined Head and Shoulders.
The Bull Case:
With the Syria/US event... will BTC function as a safe haven during this uncertain times. You may interpret the chart as an...
Just a noob understanding things...
General Trend: Bearish
Currently Transitioning into: Side Ways or Reversal
Strategy: Take Profits
Wait for Break Out and possible Re-Test after break-Out at the 8100 area before going Long
If Prices retrace, observe 7200 to 7400 area for possible Long entry