Cryptomaniac_tc

Cryptomaniac_tc Updated 

BTC appears to have formed an ascending wedge that is pointing towards $8200... which is usually bearish and predicted to fall. But BTC has been bullish for the past few days, making a retracement that is relatively small. So will BTC defy the ascending wedge and shoot past $8200 this weekend? I think it is likely to move pass $8200 towards $8500-8700 this weekend.

Cryptomaniac_tc

Looks to me that BTC could be creating a head & shoulders, and if it follows through there might be a bit of retracement, or I could be completely wrong, since prediction the trend in such a volatile period is almost impossible.

Cryptomaniac_tc Updated 

Looking at the price of BTC in the past 24 hours since the big drop, it seems to be forming a bear flag. Will it break down towards $6300-6400 (length of flag pole)? Stay tune...

Cryptomaniac_tc

Just looking at the 15-timeframe chart, and wondering if BTC is creating a head & shoulders to indicate a possible drop in price. The RSI is also showing bearish divergence (RSI lower highs while BTC is creating higher highs). There's also heavy resistance around $7100 and top of downtrend created by tops of the past few days.

Cryptomaniac_tc

Here are my thoughts on what BTCUSDT price might do over the weekend. It is possible that BTC will bounce between the resistance/support lines of $6900 and $6500 that have created a channel. If it breaks resistance of $6900 it might go up to test the downward trend line then dip from there. If it drops below the support of $6500 then it might go towards $6400 or...

Cryptomaniac_tc Updated 

Looking at the BTC price action, it appears that a bear flag has been formed, if the price breaks down from here then it could potentially drop 200 points (length of pole) to around $7800, if so my feeling is that it would be the bottom from which BTC will rally upwards (RSI might dip into oversold region twice in a short space... looking at past trends, RSI...

Cryptomaniac_tc

Looking at the BTC price, it is being compressed within a descending triangle formed by the downward trend line and support of around $8500, but it's running out of room to move, so I feel something is going to happen soon. Looking at the irregularities over the past few weekends I wouldn't be surprised if bots pump the price up now and go against what most people...

Cryptomaniac_tc Updated 

Looking at the lines that I've drawn, it seems that the uptrend and downtrend channels will be intersecting soon, creating a symmetrical triangle... so BTC price will break upwards or downwards soon. If it breaks upwards it will test the downtrend line (black), and if it breaks downward then I guess the next support is around 8200-8300? Just a guess

Cryptomaniac_tc

Looks like another inverse head & shoulders developing.... so another breakout upwards?

Cryptomaniac_tc

I see another possible inverse head & shoulder... coupled with declining volume... does that mean a breakout upwards soon? Or will it go down?