mbruncic

mbruncic Updated 

BITBAY:BTCUSD

mbruncic

It seems like descending triangle is forming on 1hr chart. Since TD setup is in 8'th candle there should be some pull back, maybe even to the other side of triangle (~6900USD)

mbruncic

It seems like H&S are forming on 30min/1h chart and that price will rise to ~ 7700USD

mbruncic

Since we are approaching 200 period MA on 4h chart and MA is in the previous resistance area of 10k I expect the price to move sideways for some time. Another reason why I don't think price can move higher at this time is the RSI that's been around 70 today

mbruncic

We have a long downtrend mixed with the short-term uptrend. At the cross of those two, there is an MA 50 on 4h chart and MA 200 on a daily chart showing support. If we break those we can expect strong crash like on example 1, 2 or 3 Peace