Would like to see a quasi Inverse H&S form here, finding support $3400 - $3500 at key fibs, which would also complete the Adam and Eve.
Volume Profile is not really there unfortunately
Fail to find support; its bad news for the bulls and we will retest lows, certainly $3200s and failing a strong reaction we will go deep into $2000s.
Is this giving us a clue as to what is going to happen with this market?
Something im paying particular atttention to.
LTC breakout (halving led) happened 2 weeks before Bitcoin.
LTC double bottom at 20$? BTC 3k? :)
Hello – This is what im seeing with BTC at present.
Bitcoin continues to consolidate;
Bounces off prior support yielded a c.61.8 recovery through consolidation, being capped by what is now solid declining resistance >1 year.
The consol. Occurring at 3k is showing similar behaviour to that at $6k, the corrective period so far in 2019 is the least severe in...
As described on the chart, we are caught in no mans land, not very good place to be trading, particularly when you are battling bots.
Much easier to trade the outcome of the break rather than try to second guess it.
Im still overall bearish but aware we may need to go higher before we go lower.
It will be brutal to go up towards 4k and then fall straight...
Total leverage exposure is starting to reach towards lows which have been seen at each previous top preceding a dump in this market.
Longs have increased from 20k to 30k from $6k
Shorts are reaching the 20k lows which we have seen in advance of each previous dump
Conclusion – Retest of 3k coming.. eventually it will be but prly need to clean these longs out first.
LTC has broken to the upside out of the Inverse H&S.
A much clearer, clean chart than Bitcoin.
61.8% retracement of the move down = target of 43$
Target of H&E = target of 43$
1.61 Extention of the H&S = 40$
Technically you could wait for a better entry in terms of risk,waiting on a retracement to the neckline if you wish to be risk averse.
Im long from the...
Bitcoin is currently locked in a stalemate having found its legs in the low 3ks and initially breaking, we have been meandering between 4k and 3.5k. 4k appears to be an area of short interest and bulls dont seem to want to buy in until there is some decent volume over 4k. We are stuck aound the volume point of control around 3750-3800.. mid point of the...