Bitcoin choppy
Updated
G'Day Cobbers,
Choppy waters indeed, it is hard to get a handle on BTC currently, as of yesterday I was bullish with the breaking of the small falling wedge but the 200ema stood above like a brick wall and denied any move above 8200 and the eventual break out of the large triangle. Overnight BTC kept ranging and we continued moving side ways into what now appears to be a descending triangle (bearish). If we break as expected we will move back down towards the rising trend-line at the bottom of our main structure. Breaking should drop us to around $7200 dollars, from there we will have to reassess our next target. For now Its a no trade, not until we see some confirmation of direction/breakout. Unless you want to trade the swings , in which 7800 - 8050 have been suitable targets but be careful, a drop below 7800 could run on pretty quickly, don't get caught out in a thunderbox during a cyclone. It blows.
G'day
Thanks for dropping by, hopefully you garner something valuable from my post, be it educational or an idea towards a trade of your own. Please share, like and comment and engage with me, I am here to help.
Trader, Chart analyst and all round larrikin. Reside in NQ Australia, surrounded by Crocodiles, snakes & giant spiders, not to mention the boxing Kangaroos and devilish Drop bears. It makes my job quite hazardous but strewth mate, I love it.
Choppy waters indeed, it is hard to get a handle on BTC currently, as of yesterday I was bullish with the breaking of the small falling wedge but the 200ema stood above like a brick wall and denied any move above 8200 and the eventual break out of the large triangle. Overnight BTC kept ranging and we continued moving side ways into what now appears to be a descending triangle (bearish). If we break as expected we will move back down towards the rising trend-line at the bottom of our main structure. Breaking should drop us to around $7200 dollars, from there we will have to reassess our next target. For now Its a no trade, not until we see some confirmation of direction/breakout. Unless you want to trade the swings , in which 7800 - 8050 have been suitable targets but be careful, a drop below 7800 could run on pretty quickly, don't get caught out in a thunderbox during a cyclone. It blows.
G'day
Thanks for dropping by, hopefully you garner something valuable from my post, be it educational or an idea towards a trade of your own. Please share, like and comment and engage with me, I am here to help.
Trader, Chart analyst and all round larrikin. Reside in NQ Australia, surrounded by Crocodiles, snakes & giant spiders, not to mention the boxing Kangaroos and devilish Drop bears. It makes my job quite hazardous but strewth mate, I love it.
Note
Note
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Down she blows Note
Possible pullback incoming, vix has found bottom and 0ema about to cross over the 20 rsi. Chance for a quick long while the next pattern builds. Note
ConnersRSI is getting pretty high though.Note
Still on track, RSI hitting extremely oversold, pull back should be coming up but RSi can stay high for extended periods. Note
failing wedge on 15mins, plus some divergence. Note
7200k target smashed, crikey looks like another test of 6k is imminent. Note
Another drop incoming 
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