The .382 fib level, trend line support, and 50ma all seem to coincide at the $6390-6400 range. a close below this I believe will continue the bearish market trend. A break above the trend line resistance would likely bring us to the 100 and 200 ma around $6625. Also, Btc had its lowest volume day since Nov. 6th 2017 (source coinmarketcap historical 24/hr volume -...
I've entered a short at 7830 Sats after a pump up to the trend line resistance on the 4hr which was also held down by the 50 & 200ma's. We are currently resting on the .5 fib level and I am expecting a drop to at least the .382 as a healthy retracement to the move up we recently had. stops lowered as we drop to lock in profit.
Caught myself an easy short. took profit on 50% of my position @ $6200. Currently resting above the .236 Fib level. Three black crow formation if we close below $6257 which is a bearish formation leading me to believe we will more than likely drop lower. MacD on the 4hr is ticking down and a lower high possibly forming on the rsi unless we see some significant...
Rejected from predicted resistance hard and possibly found support on this trend. If not I believe we will drop lower than $5800. Previous wick below the trend line makes me have a more bearish perspective.
Currently being rejected at predicted resistance on the 4hr. likely to see a drop back down to the $7300-7330 range before another move up. Dropping below 7260 would likely make for a more bearish outcome.
Currently being rejected at noted resistance on the 4hr. likely to drop back down to the 7300-7330 range before pushing further up. A break below 7260 would likely lead to a more bearish outcome.
Will not be taking any position in highlighted area unless strong indication of direction. A close above said area and I will go long to the 9k - 9.2k range.
We've recently tested above the daily trend line. For confirmation of a continued upwards trend this candle must close above the trend line resistance. If we do continue our upwards trend our next resistance is $6750. In the bearish view, our next dip could bring us down to the $5400 level. Remaining neutral until further confirmation.
Based on Elliot wave theory, we have made a failed 4th wave up by re-entering wave 1. We can also see some bearish divergence on the 4 hr and a bearish flag on the 1 day. Next resistance is 6350 if we do on the offside remain bullish. Stops were hit on my last short locking in some profit. interested in laddering into another short at these levels and riding them...
We've recently broken down from a symmetrical triangle which can also be seen as a very predictable bear flag. after our dip slightly below $5800 we've established a tweezer bottom reversal but still do not have enough support to consider this a strong reversal. To remain in an upwards trend we must break 6050 with conviction and our next level of resistance would...
All signals point to 5800 being our next level of support. We've broken down hard through the rising wedge and have broken through our last fib retracement level. If we break 5800 my next target will be 5450. Currenlty enjoying a short position from 6720 and stop lowered to 6250.
We are currently in a rising wedge pattern on both the 4hr and 1D chart. I will be laddering into a short position between $6995 & $7200. Stop orders set between 7326 and 7400. Short term if bearish will likely bounce around $6600. Longer term bearish scenario will likely end up below $5800.
We've been trending slightly above the golden ratio .382 on the 4hr fib. if we break back below that we will more than likely retest the trend line below. Still a possible bull trap as the flag is not longer than the pole and could still be considered a bearish flag formation. Strong resistance in this area.
We are still currently in a rising wedge pattern on the 4hr. Not many indicators giving any solid confirmation on which way we're headed. Small leveraged long position in at 7630 in case of a breakout past 7700. Stop market order given some leniency to avoid being stopped out by a wick. normally rising wedge patterns end up being bearish but with a current three...
got a quick chart showing a slight breakout from the falling wedge we've been in on the 4hr. possible consolidation to continue an upwards trend depending on where btc goes today.
Sitting on a major trend line support/resistance level right now. Hopeful for a break back up to retest 7599 but set my stop accordingly. prepared for a hard dip but still hopeful we'll remain bullish. could be a turning point within this hour. 7520 will either as strong support or immediately be broken. looks to be a cup and handle forming.
