Korean volume is moving into stage 2. I think the dead cat bounce is near.
SOUTH KOREA IS THE SMARTEST COUNTRY IN THE WORLD WITH 108 IQ'S THE US EXCHANGES LIKE COINBASE ARE VERY BEARISH AND ARE TRYING EVERYTHING THEY CAN TO KNOCK THE PRICE BELOW SUPPORT BUT SOUTH KOREAN MARKETS ARE TOO SMART FOR THE US THEY WILL NOT LET IT HAPPEN NO MATTER WHAT THEY THROW AT IT!!!!!!!!!!!!!!
Walked right through that impossibly impenetrable resistance line as if it was a whisp of smoke.
I really like to cross reference my primary charts with the BTC/WON pair. Note the multimonth resistence line being -- probed?... Yes, I colored this chart with South Korean flag/ Korean Air colors....love Korean Air menu! :)
We pierced the ceiling and dropped back down within that nasty multi week bear flag. All we have to do now is stay above that thick red line and we pump 20-30% on all alts within a few days. Our clients are only holding 1-5 alts. We expect they will do 50-80% over the next few days. We shall see... bitcoin-fund-manager.com
This is Bithumb BTC KRW. Looks like a massive monthly bear flag that wants another 50% loss. But if you zoom into the daily, and look at the monthly volume candle, just the last few days doubled all that volume from the month before. This is due to Bithumb secretly making a fiat onramp partnership with NongHyup Bank. Watching closely to see if we reverse...
BTCKRW/(BTCUSDT*USDKRW)*100 is a great tool to check the KIMCHI Premium bithumb - binance
Falling wedge within pennant, and inverse h&s - showing the end of wave 2 and hopefully the start of wave 3. Bullish divs on a few timeframes and selling is starting to dry up. Distribution done, time for a move to 10k before we decide what to do from there. Happy trading!
BTCSKW pulled back twice to the lower trendline of the rising wedge. I've indicated where important support is located and the price target should we break lower.
My price target for the Bitcoin/SKW using the Rising Wedge is the S.K.W. equivalent of $7770. But we'll see if price turns back around at the bottom side of the rising wedge trendline. I remain short for now.
The Bitcoin/Won price is a more clear rising wedge with busted breakout/throwback. IF Bitcoin/SKW reaches the price target, then we should expect a rapid return to $7700, depending on how much of a premium/discount the Kimchi price is. Right now the Kimchi is UNDER the USD.
Bitcoin is trading around $8030 at the moment, which is $300 lower than BTCUSD on Bitfinex (what an Arb opportunity!). It's in a clear rising wedge.
I think that it may go up to 1080000 in a day . All good. but the indicators say that it's too much overbought. I want to wait until the Stochastic momentum is downward below the oversold line.