Darkcloud cover candle but a clear support level for everybody
We are still in a big consolidation on the weekly TF (white rectangle) since the (reversal) pin bar (doji candle) of the first week of february. The trading range is based on the enfulding candle (11800/7640). The two last candle made the range tighter from 9600 to 11500-11733 area. The bottom is really clear for everybody. I expect this level to hold.
But, on the other side, we have darkcloud cover candle, wich could signal a reversal IF the next candle breaks down 9200 area (next week). If it does, i expect a down move to 8040.
www.investopedia.com...erms/d/darkcloud.asp
This today candle is the result of stop losses that got hit in chain, with psychologic levels that broke (10400). This pressure pushed people to sell, so the price dipped fast. Also, we NEVER crossed the daily resistance from the top (you have to use LOG CHART!).
But here we are at a reversal area. If we manage to stay above 9600 this is a good signal in weekly (flag formation). A move up 10400 area would be a really good bullish signal.
But, on the other side, we have darkcloud cover candle, wich could signal a reversal IF the next candle breaks down 9200 area (next week). If it does, i expect a down move to 8040.
www.investopedia.com...erms/d/darkcloud.asp
This today candle is the result of stop losses that got hit in chain, with psychologic levels that broke (10400). This pressure pushed people to sell, so the price dipped fast. Also, we NEVER crossed the daily resistance from the top (you have to use LOG CHART!).
But here we are at a reversal area. If we manage to stay above 9600 this is a good signal in weekly (flag formation). A move up 10400 area would be a really good bullish signal.
Trade active:
Comment:
If you want to wait, a good confirmation of the long would be a candle closed above the white support here: www.tradingview.com/...USD/rfGz8Y3W-BTC-4H/
Comment:
ALTERNATIVE: consolidation legs on the right. In this case we will see some structure appear somewhere (ABC.. i leave this to correction specialists at this point i do not know).. I'am in with a stop. You might have a good entry point soon on a retrace, or above the resistance if you are not in. A V bottom could be in play, wich will propulse us above right now like at 6000.
Comment:
www.trustnodes.com/2...bitcoin-bitcoin-cash
+ Binance hack (recovered)
+ SEC FUD
= DEEP at the best time..
+ Binance hack (recovered)
+ SEC FUD
= DEEP at the best time..
Trade active:
Ok, now that everybody knows what happenned yesterday, this market will make a move.. twitter.com/matt_ode...s/971432146656202752