The big opening gap on April 27th indicates that it was a 3rd wave, and now the aftermath looks like a flat correction. Half of my short position is still open, the other half ready for a re-entry.
Tested head-and-shoulder didn't allow a break down, after which the double bottom drove the market higher, conforming the daily TL (green dashed line). Now we are both in the shoulder level of the mini H&S at the all-time high, and also at the target level of the double bottom. If the market breaks above this level, it will signal further buying; on the other...
I don't trade cryptocurrencies at the moment, just following BTC and ETH to keep up with the market. Now this one seems to have thrown an early opportunity to bears. But one has to keep in mind that this is a very thin market, which may be easily controlled by "insiders," not to mention the absence of regulation. So a conservative speculator would actually just...
In the most straightforward scenario, this stock should trade in a narrow consolidation range for a few days before continuing downwards to the dotted line support.
One may wish to wait until the day ends.
This pair has already been in my portfolio when it first broke the H&S neck line, now seems to be a good add-on time.
We are now in the throw-back stage after the completion of the complex head-and-shoulders top. The neck base line might be revisited.
We had a one-day-island reversal as the head of the mini head-and-shoulders bottom, and the throwback stage is forming a flag. Thus, we would buy it for the JJSI (check project1000x.blog.com) at the Monday's open.
$450 level has been the central axis of bitcoin's price since 3 years ago, witnessing many battles. Now the latest formation looks like an ascending right-angle triangle, whose resolution should be near. Either way seems tradable once the big money gives its decision.
Break-away confirmed. The green line is targeted. I am thinking of buying this stock on Monday. But the R:R profile is not very good. So maybe it's best to wait for a lower-TF throw-back.
The triangle has been broken by a seemingly faithful momentum. We hope to have more buying.
The market targets the next support level at around 183.
Weakness seen in the 1-3 resistance level. More selling expected.
Today's test has failed to close below the ML. Upside likely.
Sometimes it is really hard to understand how simple the market acts.