I don't post publicly much, it can be a bit advantageous but, I think I should shine some hope on those in bad positions. We are basically doing just the exact opposite of the previous movement.
As we all know, people are attributing this dip to Upbit, I just think its convenient. I don't think it has anything to do with it.
As can see, a bullish h&s has formed. Also, the pitchfork has been broken as I was expecting after a strong floor was found.
For now, the price should tumble. Low RSI and 1 hour charts are predicting this. In the long term though, we have a confirmed bullish reversal.
A head and shoulders, or as I like to call them "the Maple top", (which was expected) has been formed which suggests that after our successful bounce off of $1024, which I predicted yesterday, suggests we will be working out way down to $950s. This will line us up for a bounce OUT of the fork.
I'm really loving pitchforks today! RSI is quite high, and it appears that BTC will now start making a short term drop. After which, it may bounce off of around $1024 or $950ish. and back out of the fork. You can see the green line I drew a week ago and how beautifully BTC bounced off of it, just as I predicted.
I will keep this posting as a short, because it is...
Downwards pitchfork is making itself quite clear. Admittedly, it took a few tries to find the best position of this fork, as they tend to be, however this one felt the most "textbook".
I don't believe this downwards trend will last long. The RSI and Squeeze appear to suggest that a breakout attempt will be coming shortly. For this, I am neutral.
This is one to watch. I don't think it will break out of the pitchfork anytime soon, but this could be an indication of an upwards trend that should move way back into the green zone. Further, RSI and Squeeze Momentum seem to support this.
Strong indicators of reversal above trend line. Including the morning star, which indicates a potential bottom, the hammer, which indicates and end to a significant downtrend, and followed by a bullish line at the time of this post.