ETH playing with the top of the channel just like XBT! This could be a good overall market sign as it means we might finally be testing the top supports to break out and go n that bull run that everyone keeps talking about, however, as we have seen a lot recently there are also solid signs of a bull trap so trade intelligently.
ETH has been playing a game of...
Big jump last few hours, also running along the top of the 1 and 4hr trend lines. 2 possible scenarios here, we see a pull back into the .5ish fib zone and continue to follow the current trend lines closer to their close or we have another strong break up through and form a new pattern. My gut tells me there will be another draw down before breaking up, but that...
XBT (BTC) Short chance coming up here I believe. BB have been in a bit of a sideways squeeze for a solid time and RSI is creeping up. That combined with the trend lines and overall downward trend I think there will be a solid 8% or so short coming up on the 1hr chart and the obvious multiple shorts and longs that exist within the 15min chart. The shorts and longs...
Heading into a BB squeeze here soon, will more than likely continue it's downtrend to the 570s area. Might be a good spot to buy in at after the short....but who knows I'm not an expert at this by any means
Guess that's what I get for setting my orders on a phone without properly charting. Last order S/L myself out at -0.1% (I'm genius). New targets on active trade. Hope I did better this time haha
Boggles my mind how people throw their money away and mess an entire market for everyone else. Investing money blindly and then pulling out at the slightest bit of news that they know nothing about. Do your research and know what you are investing in and why. FUD is pointless.
That being said, some new TA. Hoping to ride a few 1-1.5% trades along this down trend...
Mannnnn did I mess up! Still in at 704. -7.28% at time of publishing. 0500EST really hurt as we broke down out of the old 1hr Wedge and started dancing along the bottom of the 4hr Wedge and the Major Support. Hoping that it holds and the higher support doesn't turn into a resistance. Then we can get a quick jump back up into the wedge.
New lines drawn, let's see...
