Wait for confirmation to trade.
Confirmation to the upside is a clear break of the trend line and the 61.8% Fibs.
A break down from flag trendline would indicate this last rally was a dead cats bounce and we will move lower. Only time will tell now where we will be headed.
Based off of the indicators BTC is actually recovering and this is a bull flag. It wont...
Ether Classic is all loaded up for another round.
This crypto has found a double bottom floor @ about $5.80. Since it hit that its been breaking out and consolidating and its look for another leg up.
We are taking a step back to analyze the situation. According to my previous analyses, BTC had a good run up from our short position at 9.4k. It broke out of the bear flag rather nicely and invalidated it however the indicators were way to hot and needed to calm down first.
Now that the indicators are cooling down and BTC is out of the bearflag we are in a...
Bearish Gartley pattern from before has become invalid due to extended bounce rather than strong bounce.
We will revisit lower areas of support until we see a bounce and open another short trade.
The indicators on the 1hr are already over heated and the indicators on the 4h chart, as shown, have a little bit left before they overheat. The bears will step in...
Still trading the bearish gartley with the anticipation of it breaking down even further after its completion.
Bulls have caught a bounced off of the defended support (9.4k)
TP's have been moved.
Now we can go up.
I simply asked that you wait till 9.4k and we are there. It is safe to pick up a short now and wait till we meet one of these fibs.
TP at your own discretion. Not trading advice. Just saying.
I am waiting to pick up a shor there and to also add to a long term investment.
Watch for silvers break down to the 23% Fibs and to touch that channel. Once it hits the channel the fibs will get a reprint and we continue up.
This thing just keeps breaking down and continuing, these are fundamentals, real mone, unlike BTC.