Bullish Spinning Top Candle 1day chart Retest of Resistance Line

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar

Sorry im back quick update i thought i would quickly fire this up i see a bullish spinning top candle
on the 1 day chart i will look into this more in a few hours and throw some more charts up and see
if we can see any change in trend any time a bullish spinning top candle shows up it normaly means
the start of something big.

Now i do not want to get peoples hopes up too much as im not out to do that im here to try and help
some of the newer traders im new myself but im learning just like a lot of other people on here im
also busy programming a project for the btc community.

The chart i have thrown up jst in case anyone missed it especially new traders this candle normaly
means a big change in trend we see this a few times, i saw one of these back when bitcoin went
to 20k it was at the very beginning of the bull run near the beginning..

I want to take a much closer look in a few hours so expect some more charts and updates along
the way good luck all i will obviously include some TA in the charts with a update on news and
anything else i feel relevant, i think it is obvious why there has been so much SHILLING
going on and people are starting to see it now, which is great news as new traders wont fall
for it so much..

Social engineering is one of cryptos biggest downfalls you can make any chart look bearish or
bullish even if there not in a bearish or bullish state by the Time Frame.Enough raviting from
me i will leave you guys with the knowle we have bounced off the main bottom support zone
in blue and now we have a daily bullish spinning top candle.

Big things are coming this week end most of you would have seen the massive sell offs that
happened today and yesterday i believe these where whales dumping there btc to buy back
in there only waiting for confirmation this is my opinion so don't forget to use your own TA
im out to try and help.

I will keep this updated but definitely a massive booooooolish sign.I want to check the
EMA and RSI and also try some new indication methods.I will be back with an update
in a few hours.

Thank you to any one who supports our work we have alot of projects on the go at the moment
and we are trying to fit this into our schedule
Trade active: First of all it looks like there was a cross over on the chart but it did not last long, we seem to be heading once again in a bullish trend i now it is hard to believe but short term is showing bullish signs but i like to see these on at least the 4hr chart
but time will tell.

Keep in mind we are coming to a weekend and its going to more than likely go Vbullish you can see people have bought back in i believe there are some whales
holding on too see what is happening there is a lot of confused people other there not only that but i always see a lot of sideways movement when i see a bullish spinning top candle the next day always seems to go sideways just the nature
of the beast.

Tonight will be the main time i believe we will see a push for a more bullish
trend.But you have to be patient with BTC just like the buyers are doing
some buyers think there is a chance they will get there btc for $7200 while
it is possible i do not believe it will retrace to that level that was my bottom

What i did expect seeing was a lower low before the bull run..Maybe that is
what is trying to happen now..Keep a close eye on the market we are lookinng
to do a 10/21 EMA crossover on the 30 min chart so things are starting to pick

Personally i think we are bullish from here at least over the weekend even though
it is showing a bearish candle i think its more due to the sideways movement indecision in the market. Will pop back later this is my own opinion.

Its not so much sellers it more people are holding back to buy at the best price
they can get there btc for i believe that the main support is our bottom as will
be proven over the coming days.

Trade active: Just a word of warning
But here is an alternative as i stated above we need to see what the next daily candle is going to be if its bearish it could be a sign for sellers to dump there
btc and wait to buy back in. I would love to say we are going on a bull run now
but i believe we might see one more lower lower from $7000 - $7200 that is my
most bearish scenario i have to put it up as i change from bearish/bullish depeing
on the market never let your ego or your stubbornness or greed to make decisions for you..

We could retrace to $7200 and bounce from there that is what i believe most buyers are waiting for time will tell be patient..That is my bearish scenario
i believe the buyers are sitting in wait for a small pullback to buy back in
but it might happen so fast maybe even over night and could send us bullish
over the weekend..Bullish spinning top candlestick with an almost bearish
spinning top is normaly a sell signal for traders but let's wait for better confirmation.
Trade active: Keep a close eye for a break out on the top side of this triangle facet or even the bottom side i don't think it will break out of the bottom but i have been wrong before.

Time will tell im inclined to say looking at the rejections for both bullish/bearish
scenarios from the $7200 level which is what is making me think we will not
retrace to that level we seem to still be going sideways :D..Normal on a bullish spinning top but what if on the 1 day chart we have a bullish spinning top and the
next day like today we have a bearish spinning top ?Could someone provide a little more info on this type of situation please..If we had been bullish on the 1 day chart i believe people would have been buying today alot. From what i have read its a sell signal which is why we may be seeing people offloading there btc today rather than buying but with the amount of rejection at the 7200 level i
just do not see it getting there I will check other indicator methods soon
Trade active: Quick question could you say this is a Evening star candlestick formation ?

Trade closed: stop reached: The above chart has now changed this could be people selling off there btc, too
buy back in there is still a uptrend in the inside of the main triangle smaller
facets like this one below.

There is still a lot of rejection from the main support line i think we could see
some bullish movement tomorrow if we do not see one more lower low.

Time will tell.

Trade active: Are we finally about to retest for the current trend line ?

4hr MACD Crossover is this the sign that people have started to buy, i believe
they will only hold off so long and there has been a lot of btc sold since we
went bearish are i normaly see a MACD crossover on the 4hr chart about
4-6 hours before a EMA crossover happens in some cases

Trade active: Well still not much further huh looks like we are going sideways for a little while
longer notice the big green bullish candle get rejected all the way back down to
the resistance level, there is not much buying going on..

That is the problem some traders think there is a second lower low coming so they are waiting most of the btc has been dumped over the past months.It is waiting for the buyers to start to buy again there is obviously a lot of people waiting to buy back in its just when..Now we had a nice MACD bullish crossover which was posted yesterday did not realy result in much action to be fair.

We are just going to have to wait a little while longer and see if we either uptrend break out or downtrend breakout if we downtrend breakout watch
for traps and i have a feeling if we do we are going too $7200 possibly $7100
that is my bearish price, Bears are desperate but they ran out of steam a while ago so i don't think they will last much longer..You can see by the sideways movement that people are indecisive and unsure what to do..

That is why these triangle trending patterns form and that is why we watch for a break out doesn't matter if its bullish or bearish we watch for a decent breakout
and confirmation long term..To make sure its not a trap.

Trade active: Quick update we still have not broken out of this downward trending triangle
pattern as you can see there is once again a lot of sideways movement we are
going from bullish / bearish and i honestly did not think we would see the
market stay in a limbo state for such a long period.

If we break out of the side of this wedge it will go bullish i believe even though
most of the indicators are pointing to bullish there is not activity buying mostly
you can see allot of people sold there btc within this wedge and i strongly believe
they are just waiting for the price to come down a little more before buying
back in.

Time will tell but it will only last so long they will either give up and buy back in
or wait it out the one thing with regards to bitcoin is most traders are patient
and you need to be patient in this market or you will lose money.

Until we break out of this trend i believe we will just keep going sideways, the smaller triangle fractals have proven this the last one i posted we dropped out
of the bottom and people sold..

Trade active: Watch for a break out i believe it will happen soon it could be days or the next few hours or we could even continue down to the downtrending triangle time will

Trade active: Remember i said there was a lower low that everyone has been waiting for just
keep that in mind most traders knew this was coming as soon as we fell out of
the bottom of the last triangle facet i posted 23 hours ago lets see what happens today and tonight.

I will try and update tonight
Trade active:

Keep a close eye on the 2hr chart we have a nice bullish MACD crossover it does not mean we are going to go bullish straight away, but it is another good sign
and we are very close to the top of that trending triangle we could pop out the side of this downtrend triangle soon i don't think it would take much to get out
of this and if we do, i truly believe once a change in trend has been established there will be a bull run / or atleast a big change in trend..

Look at the amount of volume of sellers compared to buyers over the paste few months it is surprising that there any sellers left..This is just like an elastic band and its is being stretched more and more one big whale makes a big purchases it is going to start a knock on effect because all people are waiting for is a break out and confirmation.

Look out for a nice EMA crossover on a medium time frame 4hrs would be much better but remember we had a nice MACD crossover yesterday with no volume buyers where not interested now that we have reached our lower low as we explained several days ago this might change people minds.

I know people have been ladder buying on the way down but i also think at the moment people where waiting for this lower low and when we broke out of the triangle facet yesterday people knew the lower low was coming.
Trade active: Well we are just about at my most bearish price which was set at $7200 here is a lowtime frame triangle trend, these triangle trends are excellent to see where we are going to break out and can tell you which direction the market will go in. Depending on the time frame all the ones i have posted above we have dropped out of the bottom especially the last one it would have been a good indicator to sell as soon as we dropped out the bottom of the triangle breakout.

Here is another one i don't like doing them on a low time frame but desperate measures are needed as we wait for the bottom and a change in trend.

Trade active: We just broke out of the above on the upside wait for confirmation this is on a low
time frame which i hate so we need to wait for confirmation.

Trade active: Wow this always happens see that sell off this is manipulation at its finest any time we break out some one sells a shit load of btc now we are back inside the trend this is why longer time frames are better but it shows how manipulate the market has become.It proves to me the bears still have some life left in them and they are probably willing to sell everything they have to get this price down.

Trade active: Looks like a possible bear trap and we look to be back on top of the main support
line for now Macd looking good nice crossover,Is this the bounce we have been
waiting for.

Comment: There is a lot of talk of buying going on now so i think the trend may change soon time will tell here is the trend lines.its 3 trending triangles all inside of each other
with the main one out side of these 2.

Trade active: I think we might retrace to around $6850 if everyone is dumping there btc
they are going to run out sooner rather than later we will see.
Comment: LoL look at the MACD the bears are running out of steam big time look at how
long they have been selling there bitcoin for i bet there just about done.And
now are starting to dump the rest..

Don't worry they will soon buy back in it amazing how long they have been in


The volume is none existent and we wonder why we have not turned bullish most of the trading has been selling
im just waiting for these sellers to buy back in and i bet when they do this is bitcoin price is going to go through the
roof. I think it will happen fast people might even miss the bottom it all depends on how much time you are willing
to put into waiting bitcoin has always been about patients but this is starting to take the 'P!$$'.