Buy's around 8.4k's
Currently looking like its forming a head and shoulders
If 1st green trend line breaks at the red box at 10.5k then Ill be buying at next trend line around the 8.4k's
Crypto loves to follow neat trends and they love to follow past uptrend lines, i see these few uptrend lines as some major ones if they targetting at this retracement they definately will be followed again in the next uptrend
BTS/BTC, currently in accumulation phase, TA is depending on bitcoin movement
Theres not much resistance after breaking the neckline, most resistance at profts 1 and 2, after profit 1 and 2 theres a massive chance for a big payday
I'm thinking bitcoin might make a move up in the next 2 days and break the yellow downward resisiatnce from the 20k high
If you look at RSI its actually very bullish
I wont be making an entry until the next pull back where we get a 3.2k double bottom and then we'll make a move up to around 5.5k ish
My main point i think bitcoin is bullish medium term is...
-Bitcoin will most likely hit the bottom of that widening wedge pattern
-It doesn't seem like we will break the pattern this time around as the RSI is very oversold after a drop down to my expected range of 337x
-This pattern has repeated itself a lot and i dont see a case it wont as of yet, we did have a bear trap hitting the 3750 range
-Of course I could be...
-Bitcoin in a bearish Pennant
-Bitcoin had a reaction from the 1.618 level which means it could have completed its 3rd wave down and we are waiting for the 5th wave down
-Conservative targets are around $2980
-More bearish Targets are at the $2049 range
-People are secretly bullish which might not be the case here
-My Bias would be that bitcoin will...
Note to self and potential readers*
I'm fairly confident about the price analysis here, Bitcoin is making a widening wedge pattern (Blue lines) on the 45min chart and it is currently in the exact same pattern making the exact same pattern we saw repeat itself its 5th time this month, some whale is definitely making waves out there. We have the 200 moving average...