I see a H&S on the 2day. I may be wrong. However It helps to chart out all possibilities. Here is one that may play out. You can see the levels. The daily was just rejected again at the daily kejun and the 30k longs are not giving me a lot of confidence. If we have a cascading long closing situation, his may just play out.
Overall I am still bullish, however if...
Some good news, as we enter the blue box below, we are closely approaching our 200 MA. If there is any hope for this bitcoin dream to go on, that 200 MA will be VERY heavily defended. Some other indicators are, shorts are now up almost at an all time high, longs are slowly closing out, and RSI on the weekly has now hit the point where we have historically bounced....
A lot of people have been asking me for charts, and advice. In a summary, if you trade bitcoin, there is no clear position to take. The chart is bearish, but the price is not at a level where you can comfortably short. If you just want to buy some bitcoin, now is the best time to buy. Yes it may drop 2000 more, and then pump 5000. Dont chase the price, buy spot...
So - not listening to what the "pundits" say - it seems like S&P is about to go into a major correction. I don't usually trade stocks - so this would be a first for me. I may be wrong on this, take this with a grain of salt and DYOR.
Here is a chart. I am struggling to find a bullish outlook here. Arrows shows potentials paths that may be taken. Overall, jan 21st is important as 8hour and 6 hour have bearish twists and I believe this weekly candle will make a lower low (similar to the june dump)
This is a low volume coin being accumulated. You may want to start buying some on spot (dont margin, too risky). Should see a very nice pump. Working product, in use at organisations today. New explorer released.
Shown in the chart below. That is one ridiculous chart. Be careful though and put in tight stop losses if you short or long here. If this gets added to coinbase (expect jan 8th) -- it should sell on the "news"
Looks like we may see a reversal soon. 10800 was the top of the long term TL. I am hoping we bounce off again and up and away. Otherwise, we will bounce at 8900 which is the bull channel long term bottom.
I believe it is here. I may be wrong. However for us to keep going up, we must come down and touch that ground. We are still in parabolic advance unless 8801 gets broken.
There are a LOT OF buyers sitting on the sidelines waiting to pounce so we may never get to the point i marked so watch price action, and long the hell out of that bounce.
Looks like a pretty serious bull flag on ETC. With futures launching everywhere, ETC accumulation and whales should come in any day now.
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