Hi TradingView Family,
I am going to let this chart sit here and do the talking. I do not think we are in the clear yet for a positive range north of $6,500. i think the next "true" run will be after this movement. Every time we hit the $5,800 number we have always tested and bounced north but each time the positive rebound waves get smaller from Feb, April, until now. Ultimately we are forming a large cup and handle and are pretty much forming the middle of the larger cup.
We can delve into market news and psychology, but i think i have gone into good enough detail via my telegram vlog updates.
The blue lines are the rough guestimate path of BTC over the next 10 days on all indicators MACD, STOCH & RSI and price points. I will give you guys more updates throughout the week. Hope you all have a great weekend!
Happy Hunting Reg!
I am going to let this chart sit here and do the talking. I do not think we are in the clear yet for a positive range north of $6,500. i think the next "true" run will be after this movement. Every time we hit the $5,800 number we have always tested and bounced north but each time the positive rebound waves get smaller from Feb, April, until now. Ultimately we are forming a large cup and handle and are pretty much forming the middle of the larger cup.
We can delve into market news and psychology, but i think i have gone into good enough detail via my telegram vlog updates.
The blue lines are the rough guestimate path of BTC over the next 10 days on all indicators MACD, STOCH & RSI and price points. I will give you guys more updates throughout the week. Hope you all have a great weekend!
Happy Hunting Reg!
Comment:
First Step down just happened :) Lets keep an eye on the market. Anyone opening trades should wait until the whole downward maneuvers finish
Comment:
Hi team :) So we hit our step down and i suspect BTC should flatline a bit for the next day or so. If we are going to enter a secondary drop the first number to be attacked will be $6,150.
There are some whales with solid support lines. 4hr is very middle of the ground with some expectations of a small dip. Something to take notice of is an increase in whale action. We will see them in the book orders trying to stabilize the price.
As @ipan9 noted in the comments the market is moving faster than expected. That being said i am trying to analyze historical charts vs current markets and observing if we can go further towards $5,800.
There are some "positive" reversal markers that formed on the 1D and Weekly charts that i am exploring. However, i need the 4/6hr to play out to see if it will reverse or not.
There are some whales with solid support lines. 4hr is very middle of the ground with some expectations of a small dip. Something to take notice of is an increase in whale action. We will see them in the book orders trying to stabilize the price.
As @ipan9 noted in the comments the market is moving faster than expected. That being said i am trying to analyze historical charts vs current markets and observing if we can go further towards $5,800.
There are some "positive" reversal markers that formed on the 1D and Weekly charts that i am exploring. However, i need the 4/6hr to play out to see if it will reverse or not.
Comment:
A brief update on the indicators predictive path. Please review the original TA and the indicator highlight.
Comment:
I will be making some adjustments to my TA as we proceed. Market psychology is split between the shorts and optimistic bulls on telegram and news chats. there might be a high probability that bulls will try to push this into overbought territory before pushing this south again.