jon.poseidon

jon.poseidon

I'm seeing the long-term log uptrend channel as having two 'lanes' and have updated my charts to reflect this, by adding a dashed 50% centre line which has historically acted as support/resistance. We are now within this channel, and the recent swing high was a test of the top of it, with the 14 day consolidation period scraping up the 50% line. Note the recent...

jon.poseidon

The time to exit a parabolic move is when it moves to the right of the parabolic arc. These are hard to draw other than in hindsight. Here's one possible interpretation.

jon.poseidon

Momentum declining left to right, sell volume picking up as it challenges neckline.

jon.poseidon

CMF seems to imply smart money isn't buying this push. It's also forming an ascending triangle which are more likely than not to resolve bearishly.

jon.poseidon Updated 

8499 for 50% retrace back into top of long term channel. It may try for the 61.8% around 8100, but support is 8200, so look to re-enter 8200-8499.

jon.poseidon

Question I was posing to myself: If BTC eventually blows off and pulls back to the long term uptrend channel, what price will that be at, and would we be better waiting for that retrace, or holding from here? If you look at previous exit/re-entrance of the channel the result is rather shocking! Perhaps HODL and close eyes may be best move after all?! Things...

jon.poseidon

Blow off top?

jon.poseidon Updated 

8818 - 9251 would be my guess, (38 - 61% retracement from latest rally). 8818 looks to coincide with the channel bottom - zoomed out view of same channel here .

jon.poseidon

Looks like it's plain sailing to 10,000, even possibly within a day or two.