So last pattern played out fantastically. I caught 5811 long. Hopefully catch the next one with a decent position.
This is where I think we are at the moment. I have longs from 6056.6 down to 58 but dont expect a drop below 6040. Was going to close long just under 6300 but if it plays that way I will see closer to the time.
At this price point there are still plenty of possibilities for both up and down.
Sorry I didn't post this at the beginning of the week. I have been on mobile all week and trying to use the Trading View site on a Samsung Galaxy S8 with fat fingers proved almost impossible. I have been told their is an app so will have to try it. This was shared in the BitMEX trollbox as the week went on and proved to be pretty accurate. The pattern was taken...
For the moment we are closely following an earlier pattern. I am hoping to see lower and higher but overall I will be shorting
Helping my mate teach his daughter about bit coin price. Stay out of the purple water. When price gets to the mint choc chip ice-cream start laddering sell orders
We will certainly find out. Now would be a good time to build a long position on September Futures on BitMEX Don't have a BitMEX account, use my affiliate link for 10% off fees www.bitmex.com
The last two weekends, we witnessed a pump which coincidentally lasted approximately the same amount of time and pumped roughly the same increase in price too.
It has been following the triangle quite nicely. Many people suggest a drop to retest lower but I am just going to follow my chart until the price says otherwise. I will be monitoring the price more closely while in the circle drawn on the chart.
I see a few different patterns forming especially if you zoom out on a longer time frame. Which is going to play out? I know the chart is a little busy but it might be of use to someone.
If I had adjusted my last TA and moved the point at which the price direction changed, I would have traded the dump perfectly. Anyway moving on, we could now be in a small wedge or if we go down we are continuing a much larger wedge. The smaller wedge is in magenta. If we follow this, I expect 10.1k in 5 days. You might need to zoom out to see the larger wedge...
Possible a repeating pattern on an extending timeline I am looking for a drop possibly starting soon if it is This is not serious= just something to do while waiting for price movement
Just confirmed on the 2 hr chart. Someone please confirm my confirmation
Magenta lines are support / resistance Red diagonal lines are channel boundaries
What is being created? Ascending triangle Ascending wedge Ascending pennant Reversal I have circled in green what I believe to be possible breakouts if the price reaches there but I believe it will continue downward.