Bitcoin H&S in August - Plan C
We`ll see... enjoy it!
I`m not sure if anyone follows this idea as no comments or likes received... this will be last post:
In next hours I`m expecting a drop and good opportunity to fill up the bags:
In maximum 24 hours, I expect BTC to reach his final bull run and then start another 2 weeks of drop to 3k-3.5k , hope I`m wrong but be careful and stay safe and do your own analyzes, this is only my idea and what I trade, sometimes things are changing and this is not a live update... I post sometimes when I have spare time and hoping that will help someone...
Bitcoin did not moved exactly as I planed and and head and shoulders presented has been invalidated, if you watched my idea you may have noticed that was closed on 16 August and I did not posted any updates since or other ideas because users showed no interest in this.
Today 29 August most of the interval candles match... like 2,3,4,5,6,7.8 days etc... this is rare each year and when all match and new candles are starting soon things become more clear, so new cycle begins today and I expect next days/weeks to have a better idea about this market but I still believe that bottom was not in yet and we will go way more lower than 5.8K soon. I think today is the top for this bull run, even if BTC is pushed above 7.2K I do not believe will be pushed above 8K before we get bellow 5.8K. Good luck
I was also disappointed for the second shoulder: each time a downing movement was given, buy orders with high volume were placed :-o
We didn't see the bottom for me neither, there's still a strong potential to go to 5.8K and maybe even lower; event linked with Mt Gox trustee and all the BTC/BCH remaining for being sold and I also expect a huge implosion coming from the Venezuelan Petro and a massive wave of fud over the crypto... these events will be part of this potential I guess
This is what I noticed these days too, BCH and ETH did not made their run yet but if we do not drop soon logically means that BTC will go more up and BCH and ETH will have their run eventually.
Anyway even if we start drooping today or tomorrow on next run BCH and ETH are two coins that that should have bigger gains than the rest of altcoins.
Either way I want to see volatility in the market, because this way we can make money.
I don`t know if you are familiar with volume profile but I can see some big gaps between 6.7- 8.1k that needs to be filled up, but Point of Control (POC) – ``The price level for the time period with the highest traded volume`` has been changed past days meaning that since 2017 to present POC now is $6454 and before was $7454... not sure yet where we are heading, here is a pic of volume profile:
ADX, DI+ and DI- are respectively in bold blue, green and red
RSI 14 and SMA RSI 5 are in bold purple and pink
the 2 remaining are stochastic
There are more odds that a quite big dump would happen than a pump.
For BCH, a less violent dump could be forecasted and for BTC it's not so clear for now, still indecisive.
I got the idea of POC and missing volumes, but what did you mean by "2017 to present POC now is $6454 and before was $7454"?