Watching for this structure to play out. NOT investment or trading advice. Enjoy the show. Cheers!
Time to go shopping ? Having a little fun while BTC decides the next move.
BTC Bullish Gartley completed. Now watching for the Bearish Gartley confirmation which coincides with short term price movement upwards to the 127 fib. Strange price action taken place here so it will be interesting to see how this one plays out. Note: Not investment or trading advice, amusement only. ;)
The 76 EMA was penetrated with ease, now I see it heading lower toward that 207 EMA (yellow) and meeting the old trend line that started back in Sept '15 Just my analysis and prediction, not financial or trading advice. Looking to see how this plays out, but will likely be buying lightly on the way down.
We are seeing the W bottom "breakout" playing out in BTC. See how the previous resistance at 6300 now becomes support for the breakout. Here are the current target of potential.
Looking for repeating patterns I found this 2014 fractal making lower lows right before the 2015 upswing to new highs. For experimentation purposes, let's see if there are any similarities between the two trends and check for repeating patterns.
Oversold RSI on the DAILY chart has historically provided a bounce to the upside. Watching carefully how this plays out from a 6200 Long entry. Short Term Targets: Target 1 = $7K, to back test bottom of triangle. Target 2 = $7.3K 161 Fib Target 3 = $7.8K descending trend line test
Looking at the Daily, current BTC price path is headed toward the lower log trend line, suggesting a 4th test is coming. Will it hold? Will it bounce upward out of the triangle? Time will tell. In the interim, play the bounces, watch the daily doji candle for possible reversal.