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squeeze between blue and purple channel is about to end in favor of purple. I am waiting for 7500-7700 to go long and forget about it for a couple of days.
In My previous idea I had my purple support dashed-line wrongly positioned, so this idea is partly a correction on that. nevertheless, the consolidation took long enough for me to realize my mistake.
Many are calling the current formation a bull flag, but I am not convinced we will rally from here. I actually expect before end of today to see a pull back to a ...
While many were bullish, I was expecting to reach $7800. And now, A sad realization that further fall to $4500 is also possible, thus I added the bottom red trendline to my chart.
A retracement of BTC from $7800 is still in play (see related idea), but if we break below that level then next retracement would be below the purple dashed line which would become a ...
Is this what we call the Bull Gartley Pattern?
The current fall needs to go down one more time, fourth usually doesnt happen so I expect a failure of the head and shoulder formation and i expect a long during consolidation till break of the red down trendline to escape the descending triangle then up to 9200. Eventually back to the purple long time support trendline from back in sept 2017, just because we ...
Just cancelled my LONG position of BTC after break of the steep rising trendline (gray). I don't play short (yet, not offered by gdax) but I will wait for the $8700 to find new opportunities to go long again. This would also mean that we enter the long term down trendline (green dashed) again, so we should watch out for the break down below 8700$ where a target ...
This is my first ever trade of the double bottom with such significance. My target is at $9400, and more importantly breaking above $8800 and confirmation of the double bottom.
I don't see any sign (yet) for a quick recovery of BTC, the purple uptrendline is totaly destroyed and BTC needs to find some new strong support, maybe 9500$ but the 8800$ has in my opinion a higher probability.
General trendline is down as BTC failed to break above the $11700 price and also the price did not honor the rising purple trendline. I can only hope that 9800 will provide a strong support but I am afraid it will not hold for the long run.
I just learned about 'Hidden Divergence' and look what I found on the daily scale, Lower High on the price and Higher High on the Stochastic. Short term will be heading lower and target $8900 is a possibility but to be honest I don't think that is gonna hold. This is also supported by the shooting star closing below the major trendline from All time high.
Finally kissed the trendline from ATH, Could this be the start of the BIG SHORT?
My first ever trade nearby the major trendline, prediction is based on analysis of the previous price action nearby the same trendline.
Next Target $890
Price broke above several trendlines and it looks like the retest of the broken trendline is completed succesfully so from my perspective i am bullish and my next target will around 9450$.
I've been lucky with the previous predictions in an rising trends, now it looks like we're heading down. That's why this next move is a bit risky, but I am going to play this nevertheless with a small amount.
Expect to see continuation to 902$ after a small bounce back from previous resistance.
Prepare for a bounce around 650 before reaching higher around 720