rapmadarang

rapmadarang

I'll enter when 6k holds, for now waiting how the bears would react on 5500-6000 resistance. This could be a bull trap, BTC has not yet consolidated enough to wear out the bears and late sellers IMO.

rapmadarang

Bears and bull trying to paint their bias on the chart. Bears could continue with the correction or bulls could paint an ascending triangle pattern. I am going short if 9k area becomes resistance. Going long if 12k breaks with high volume. Good luck coiners!

rapmadarang

This week would be crucial for BTC as price attempts to break log scale bearish channel.

rapmadarang

Take a look back. Daily close has pierced the cloud. Last time this happened was the aftermath of BFX hack. If 9k area becomes support we could see a long consolidation then followed by a 3.618 fib target rally and that's 50k. Check out charts of BTC starting Mid August of 2016 then set cloud settings to 20 60 120 30.