crypto_kiddie

crypto_kiddie

Looking at the daily chart, we can see an inverse head and shoulders has formed, and currently we're at the neckline. Before trading on this though, I do want to bring your attention to some negative signs that this might prevent this from breaking out today. I'm seeing a bearish divergence on the RSI, and the buy pressure is clearly fading. MACD has not crossed...

crypto_kiddie

If I wasn't cheap and had the ability to add more indicators, I'm sure I could have found more bearish divergences. Lots of signs pointing southbound.

crypto_kiddie

In white

crypto_kiddie

Should take us back down to previous support around 8.6-8.7k. Overall looks like we are creating a pennant and should come out on top. Short for now, long later.

crypto_kiddie

nuff said.

crypto_kiddie

This signals to me a good re-entry time. The hidden bullish divergence is the dotted blue line. I'd set stops just slightly below 8.7k

crypto_kiddie

Potential for a correction or complete turnaround is upon us. Looking at the daily chart we can see we've pierced the top trend of the ascending wedge, but I wouldn't put too much stock in that until bar closure and continued growth. Especially since there is a clear bearish divergence (in pink) on the Stoch RSI. I've included the previous divergence from the...

crypto_kiddie

Looking at the 60m chart, I can see a falling wedge has formed that has the potential to kick start a reversal. As always, we'll want to see an increase in volume to confirm any breakout. If I had to guess, I'd say that any decline from the current price would likely only go as low as 6.6-6.7k where support has been confirmed, but you can see the peak of the wedge...

crypto_kiddie Updated 

Noticed a small H&S on 15m. Watch for a break of the neckline. Just something to watch out for if you're lining up buy orders. I see us testing the 8.2/3 resistance, but there could potentially be a nice opportunity to get in at a better price if you haven't already done so. * This is not advice in any way *

crypto_kiddie

Seeing multiple inverse head & shoulders patterns. Chart says it all. Wait for the breakout, and I'd keep a close eye on BTC price action. Target is 64-66 * This is not advice in any way *

crypto_kiddie Updated 

Quick Note: Seeing a bearish divergence (in red), a small ascending wedge (thin black line), and a light breakout of the descending wedge. Arrows indicate my predicted price action over the next couple hours. I believe will test the bottom of this ascending wedge and create a small bear flag. This will break BTC out of the ascending wedge where we'll test for...

crypto_kiddie

Glancing at the 4hr, looks like we have a bear flag within the bear flag. Additionally, I see a bearish pennant (in orange). Next candle or sometime soon, could see us testing the 8.8k support line again.

crypto_kiddie

BCPT breaking out of bull Flag. MACD has a clear bullish crossover, and RSI still rising. Targeting around 13k

crypto_kiddie Updated 

Looking at the 4hr, we can see a bullish divergence on the RSI when comparing the last two lows. Highs and lows should coincide on the RSI, but we can see the price low on the 25th doesn't result in a new RSI low, signaling a bullish divergence. How long this lasts, is up in the air. I also see the MACD slow/fast about to touch, a good buy signal if they do. Be on...

crypto_kiddie

I previously published a fractal pattern idea that has so far played out rather true. This is just an update to that.

crypto_kiddie

I've drawn out what I see to be the comparable bear and bull flags, and what the pattern would indicate. The slope down was much steeper in comparison to the slope up, so don't think of the lines in terms of dates as the ride up could be more obtuse.

crypto_kiddie

Now this could be due to some selloff and not last very long, but we're seeing a bearish crossover on the hourlies 1hr - 3hr. The 4hr has not crossed over yet, but I'd keep a close eye on it. I'm not too experienced with the technicals of what exactly defines a true H&S, but it sure does look like it on the 1hr. If my prediction is correct then I'd expect some...

crypto_kiddie

How things seem to be shaping out, but could reverse so trade at your own peril! Love to hear thoughts and comments. Key: Potential Bull Flag in blue Reverse H&S in grey Grey lines show overall support & resistance Long blue lines show support & resistance for the potential trend Green & Red boxes show targets depending on how things pan out