Potential Senario of a Inv. HnS with a target of 7750 Level.
Notice the huge pressure to the downside and the general pattern is still very very bearish with a possible target of 75.000 ( the mean of the previous squueze channel) Although Turkish Manipulators like to close all possible gaps when/if there is suitable environment, this gaps mean that there will be a huge pressure on the market to the mean 75.000. It also...
Historically USD against TL , if at the major top, it will dramatically drop back and can not hoover around the top. Hovering close to top is a sign that USd is forming a continuation pattern, probably a symmetrical triangle. Long term bulllish on USD/TRL
The triangle formation is already set up, The ETH against BTC has been either strong or slightly strong against BTC -1.07% . The pattern suggests ETH to almost triple its value against BTC. Check out the volume shrinking and the symmetry of the triangle is nice In terms of BTC , if ETH triples in value that means the market dominance will be transferred to ETH...
Looks like it is preparing a setup I don't know it it is right to say Flipping is happening , but ETH is preparing for a ETH/BTC over perform. Soon, ETH/ BTC might see some ATH. Hold tight
on 2 Hourly charts, BTC might be preparing for a run to 10.479 usd.
101 Technical Analysis
It is either the red line shaped or Blue line shaped cup formation. After we clear 11.800 at BTC, hopefully the recovery gets faster.
Chart Patterns showing signs of weakness and potential topping formation. While as the announcement of the election, RSI and Momentum should be closely watched for any positive or negative divergence.
A Short time frame Scenario points to 8.400 usd for BTC. As previous Descending wedge break out was not with volume and violent. A trade around 8.400 levels might mean, the worst is over but the recovery will also be slow.
BTC/USD Shorts at all time highs and BTC is not dropping anymore. Also BTC has showing signs of weakening sellers as the falling wedge touched the upper band. Too early to bet but some sunny days might be approching
May not mean trend reversal event but if executed we may say the downtrend is over and we might capitulate for some time more A WARNING, THE BREAKOUT FROM THE WEDGE SHOULD BE WITH VOLUME AND WE HAVEN'T SEEN THAT VOLUME SO FAR
IF we see any spill , short DJI, short all time. 20xxx is the target. Huge sell off is on the way!! Easy money
On the bright side , if this channel is working and we will drop down to the bottom of the channel , that is -900 Which will definitely understand that BTC is over and we will not suffer anymore, we will stop trading and go back to our 6 figure slave lives
Target 5591
Since 06 FEB dip, BTC has rallied and has been churning around the upper band. This is a bit nervous structure for both Bears and Bulls. For bears , definitely waiting for the lower band to get in while bulls and anxious about keeping in the down trend. My experience tells me that, there is a kind of will to go up but still waiting for the cheapest price to start...
This up move is over, the new comer ehnthusiastics is gonna be punished! Probably Alts will be beaten in the down trend and hopefully when we get down at BTC channel lows, the setup for the upside for altcoins will start to find a base