chase4fun2018
Short

Bitcoin Btcusd Double Bottom Or Just Support/Resistance $8100

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Good afternoon everyone hope you are all well and enjoying the weather ok lets get to it I noticed we have a lot of support & resistance at the $8000 - $8100 level as we posted this a few days ago im not sure if we can call this a double bottom but time will tell i need to check other trends and indicators to confirm if we are in fact going to bounce from this we are out of the trending channel a while ago the ema look like crap to be honest, once that cross over happens it was obviously going to go bearish , im just throwing this idea out there i did expect a pullback to $7600 but we went bullish again there was a lot of sideways movement yesterday and low volume towards the end of the day let's see what today brings, i have many charts with many different trend but there not up for sharing i do not want to create fear or even create false hopes.

But we need did warn people yesterday to keep a close eye once we fell out of the trending channel and was confirmed not to be a bear trap it was game over (short term)..You will notice this area is filled with support / resistance looking from past history we put a chart up yesterday showing this area, time will tell the EMA 10, 21 ,50 look like they have crossed on almost all of the time frames although i cant check fully not having pro..But take notice of past times we have bounced from this region it could be ALGORITHMS automatically buying at this price who knows..The amount of shilling and manipulation is only getting
worse not better.

Will update tonight once i have double checked the charts over again. And yes the SHILLS are now posting this past 20 mins all over
youtube Twitter and on here same old crap...And no not every one who disagrees with me or other people are shills they come out
at specific times to install fear.
Trade active: Low time frame Ema picking back up nicely :) i will check the some big buys being made at the very bottom of the triangle trend im guessing for a bounce from here
to a more bullish state time will tell..Stay positive and ignore the shills they have suddenly come out in force, they are waiting till the last few minutes of a critical time in the market to come out shilling :)) Its funny to watch but remember social
engineering is a powerful tool..Keep an eye on your indicators and wait for better
confirmation your own TA not someone else's...Maybe when people stop panic selling or panic buying this market will be tradable again..

Trade active: Could this be the new downward pointing triangle trading pattern we are seeing
let's wait and see..:)) We could do with more data.This is the 2hr chart.

Trade active: As you can see we dropped out of the bottom of the channel trend..

Comment: Not sure how long its going to stay in oversold territory, Hopefully we will see a
change in trend tomorrow fingers crossed.2hr chart

Trade active: $7960 Seems like it could be a double bottom just thought i would throw that in there and it looks like there is rejection and support there,Only time will tell
but i see another run for the trend line coming soon if you want my personal
opinion.
Trade active: Just a quick update since we fell dramatically, i was expecting it to go to $7600 and have been waiting for some time you can clearly see the down trend we are in but believe you me this is not going to stay this way very long we are already seeing another 10/21 ema crossover on the 30 min chart

which i have no double that we might have hit the bottom, or we are very close to it i want to check the MACD & RSI

but here is a quick peek at the EMA looks like we are going for a new retest of the top resistance Line very soon,

Once we step out of the side of this trending pattern it is going to go bullish very quickly, it is like a rubber band that is being stretched and it will not be long before we step out of the side of this triangle downtrend and go on a bull run, it is the more we move down the lower the resistance price becomes so its only a matter of time.

Make sure you do not miss out these are my own opinions and you really should have been ladder buying on the way down.

Trade active: Could we be seeing a head and shoulder pattern forming ?This could in fact
break us out of the trend. There are many possibilities of what could be happening but what i see is a lot of people dumping there btc to buy back in again..At some point the bears are going to run out of steam and we will get out of this trend and when we do try not to get left behind, this is manipulation algo will dump btc below $6k We will break out of the side of this trending resistance
line and when it does there are going to be a lot of purchases made that is all i believe investors are waiting for..I do not believe we will see but i do believe
if we dont break out of this trend we might see a pullback to $7600 we have
retraced more than 100% i believe


Trade closed: stop reached: Wow what happened..Need to go away and take a closer look i know there is good support at $7200 i suppose there is noting stopping it from going to 6k again praying that does not happen..

That was a big sell once the 7800 range was broken it was going to be downhill from there i believe $7600 was my most bearish view..Looks like i was wrong how much has this retraced in total from the top im going to take a look.

I do think there will also be alt of buyers coming to the market to get some cheap btc so i do not think we will stay down i need to go away and double
check my own charts.
MACD About to cross bullish on 1hr chart..I see the bigger pattern now its so big it
wont fit on here..
Reply
Rsi has a trend to it its not over sold and its not over bought looks healthy.Ema looks to be picking up.These are short
term trends.

Reply
Keep an eye on this 2hr channel im checking RSI & MACD now.

Reply
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