If there were ever a time for BTC to breakout it's now. BTC is ending the near of a BIG descending triangle. Long term indicators have bottomed out and recharged. On the 4hr there is some what of a bullflag that would push BTC out of the triangle if it were to break up. I think it would take a lot of work to push BTC below support at this point but this is crypto....
Almost all indicators currently point towards a move down. 4 hr chart looks almost the same. 1 day RSI & 3 day has turned down. That being said BTC has has a mind of it's own lately so it could go either way but I'm betting down. LTC just had...
I keep telling myself this has to be the top, it can't go any further, yet it continues to rise. Well BTC has now completely overextended itself out to 1wk charts with RSI. The sensible, logical investor says this has got to be the top this time. Who knows maybe it keeps going but I'm going to wait and see what happens when futures start trading. You can ignore my...
I'm still sitting this one out as there are a few things that concern me. This is a 4hr chart but 6hr looks the same.
1. Bearish divergence with RSI marked by blue trend lines .
2. Volume decline.
3. DMI ( ADX ) not looking great.
4. MACD under.
5. Rising wedge
6. 1 Day and 3 Day charts are really screaming for a correction now.
This doesn't mean BTC 1.44%...
Keep in mind this is just a possible scenario. Market sentiment is turning negative for the moment and these my thoughts.
1. DMI (ADX)
3. MACD (all the way up to 6hr now)
1. Watch to see if 10800 holds if not we could see a sizable drop.
2. If 10800 breaks 100 EMA around 9200 is a good place to watch.
3. If 9200...
I believe we are still consolidating in the 10700 - 11100 range. Looking at the first bull flag I published for this trade and comparing it to the current situation, it appears BTC could be building a very large bull flag on the 6hr. As of right now all TA indicators I previously mentioned still look bullish. There is the concern of a double top but to the best...
1 hour on the left 2 hour on the right but you can see it forming up to 3hr. 3hr MACD crossed 4hr getting close, EMA 5/10 looking good on almost all time scales, riding above 50 MA again, DMI (ADX) turned bullish & possible double bottom.. Price seems to be consolidating 10400 - 10700. I would expect a good sized leg up if this breaks 10700.
Step 1: Whales prop the price with big walls unloading bags the whole way up.
Step 2: Push the price through 10k because everyone thinks the price will continue up once 10k is broken.
Step 3: Put in massive short.
Step 4: Market sell remaining stack at 10.1K - 10.2K or whenever the buying seems to be cooling off.
Step 5: Watch chaos ensue and rake in the...
Last dip to 7530 bounced off 50 MA and I'm looking at 100 MA as the next line of support on this one. 100 MA lines up nicely with a lower support channel that began at 2960. This support channel was broken on the correction to 5545 so keep that in mind when looking for a reversal. This is just the first line of support to watch for a reversal I'm not ruling out...
Fairly large rising wedge seen here on the 6hr. I've been watching this for about one week, it's made for a couple good trading opportunities. This wedge is large so it could go on for another week or end as early as tomorrow based on the current path projection.
Volume decrease last few days
OBV losing steam
6hr Macd flipped
1. SMA 5/10 cross over (short term indicator generally but I use this on all time frames)
2. BBands opening up
3. ADX above 20
4. +DMI bullish
4. OBV bulish
5. MACD 1 day bullish (crossed have to zoom in)
6. RSI trending bullish
Massive ascending triangle which gives ETH approximately $265 to rise from where the breakout occurs.
In case you haven't seen the news Parity Wallet potentially locked up/lost hundreds of millions in ETH. This news is very early and I suspect further drop. This will be interesting to watch if we make it to the "star" support levels on chart.
ETH Affected As of Publishing:
This is a follow up to the possible H&S which is still on track (see below)
The correction targets chart black and red dashed lines represent support. Dashed red lines represent my target buy zone but I have orders spread to the lowest resistance line just in case. I expect the decline to...
Possible H&S scenario to keep an eye on. Right shoulder will need to stay under left shoulders high ($7454) to validate.
*This is NOT trading advice.
*Perform your own due diligence.
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