$BTC: Possible paths of movement! Comment your IDEAS! Which way?
Nice triangle on BTC.. give me a comment i want to see which way you think BTC is going to go.. ive outlined some possible paths of movement.
Either we continue down here, another swing within this pattern
Or..
We breakout of the structure.
As of now we were rejected on previous resistance (bearish retest) and a weekly orderblock (9600 or so)
So until we claim those two levels as support be cautious for further downside.
Checked out my linked idea for BTC Dominance.
Also posted 4 charts on RVN, ICX, XTZ, QNT.
Either we continue down here, another swing within this pattern
Or..
We breakout of the structure.
As of now we were rejected on previous resistance (bearish retest) and a weekly orderblock (9600 or so)
So until we claim those two levels as support be cautious for further downside.
Checked out my linked idea for BTC Dominance.
Also posted 4 charts on RVN, ICX, XTZ, QNT.
Comment:
Bitcoin is to be treated bearish until we claim 9583 again (The weekly Orderblock) we have had rejection from this multiple times so wont be long before it gives and we reclaim it as support, Or dump from here.
Comment:
Depending on how you draw your triangles on Bitcoin, the first one has already broken out and come back inside the pattern. (Pic 1)
The most recent one - If we continue to consolidate within the pattern then this will be positive for the altcoin market.
(Pic 2)
With many alts painting possible bullish reversal patterns a breakout upwards of either triangle will not be good for altcoins as money will rush from them into Bitcoin.
The most recent one - If we continue to consolidate within the pattern then this will be positive for the altcoin market.
(Pic 2)
With many alts painting possible bullish reversal patterns a breakout upwards of either triangle will not be good for altcoins as money will rush from them into Bitcoin.
Comment:
Comment:
Press play on our BTC idea and you will see that we broke out nicely and are now resting on the previous resistance of the wedge.
We either bullish retest soon or are looking at a possible pattern failure setup.
The price on the 5 min has been consolidating nicely sideways which is great for altcoins, and i would expect another decent move to come from this consolidation.
Pattern failure:
Bullish retest:
We either bullish retest soon or are looking at a possible pattern failure setup.
The price on the 5 min has been consolidating nicely sideways which is great for altcoins, and i would expect another decent move to come from this consolidation.
Pattern failure:
Bullish retest:
