Scorpio235

Scorpio235

The Bitcoin bears are hitting all their stop losses at this point. I thought I was a bear as well but boy was I wrong. I drew this a couple days ago but something told me to wait. I think it was a fifty-fifty call, a lot of support around the 9400USD area. Therefore, I didn't take any trades. Lets see if these candles can hold...

Scorpio235

A reverse head and shoulder has formed on BTC while breaking out of the bear trend line that is visible at the edge. There is some momentum going for BTC according to the 50 and 23 EMA which could push it a bit further. A possible reversal could happen after that but if no major whipsaw happens this could be a good entry point if you think the correction is over....

Scorpio235

Sentiment is changing quickly on BTC, we will possibly see resistance become support on 10,000, HUGE psychological number. Once its established that 10,000 mark will hold on a couple drops expect BTC to launch to 12,000 were we will see resistance again. I would put my stop loss at 9500 if Bears take hold but very unlikely. Then take small profit at 12,000 but...

Scorpio235

The daily and 4 hour look very bullish for BTC, where just looking for further confirmation and a nice break out from the Cup and Handle pattern.