sathell22

sathell22

ETHUSD is exiting triangular consolidation. It was accumulated a lot on dips and there is no evidence this accumulation has been distributed. It looks like bigger players have positioned themselves for the break upwards.

sathell22

We bounced from trendline resistance (you can see it on weekly chart from 2017). It looks like we are going down again for a while.

sathell22

Have a lok at the trend line resistance. Bitcoin made a big move and came to horizontal resistance and big trend line. We might see a correction.

sathell22

I think we might get a small correction before uptrend will resume. I think the stock market can open lower therefore influencing a move down on crypto. If this move will find support in the region of 6.9-7K we will continue up. I would wait for correction lower to take a long position when it comes down and support is confirmed.

sathell22

We are very important resistance now. I personally will go short here for continuation of downtrend.

sathell22

Very simple chart showing where we are now. The level we are at is huge and proven to be a huge pivot point in the past. If the support holds we should get impulsive move up. If it fails we should get an impulsive move down. Let's see which way it will go.

sathell22

Just some of the idea about BTC I am going to trade. I think we are going down now