Short

Bitcoin...every cup needs a handle

Updated

Otherwise how would you drink it? Amiright? : )

I do wish you all luck with the double top calls, the institutions really appreciate it.

Note

Bull flag completed and helped to create a stop loss run at 5000...now we find out whats really coming, FOMO or down for the handle. If the price takes out the local high the raging bull is back...if not then we get some bearish divergence on the daily chart and its time to go back down for the handle.

Note

Worth noting that at this very moment, RSI is oversold on every time frame from the 30m chart all the way up to the 1 week chart. Rare.

Note

*Overbought

Note

Okay...great news for bitcoin
cnbc.com/2017/10/12/bitcoin-price-record-high-above-5000.html
Going to the moon.

Note

*Assuming it breaks the local high at $5240 (I assume it will)

Note

Why do I say to wait for a new ATH? Bearish picture is still alive, at a pivotal point. Look at the RSI trendline...either we get bearish divergence or we get FOMO. We'll see.

Note

ATH broken, moon it is. At least for now.

Note

Idk why but this just worries me : ) The market is very overbought on all time frames...that doesn't mean the FOMO can't continue it can, but its just something to be wary about. Not trading this or anything, but I just have this feeling that since shorts were liquidated last night, now the down move is gonna come haha. I know i'm flip-flopping a bit but that just honestly how I feel about it. Not confident either way:

Good luck to you if you are.

Note

Daily candle respected pitchfork resistance and is now wicking. Not closed yet but looks like we're going down for the handle. The fibbonaci levels are a bit higher now that we made a new high.

Note

Didn't mean to share the right screen, just focus on the left, that's what im referring to (the daily chart).

Note

all three fib levels are potential targets:

Note

Maybe one more high...but the longs must get rekt eventually: )

Note

Bull flag? Or will it break down? Who knows. Wait and see.

Note

Breaking this triangle as I post, pop

Note

lol, price losing momentum on the volume. This would be an epic bull trap, careful it goes back below $5700. Glad i'm not trading this. Could go either way here.

Note

Seems like if bitcoin were going to break out...it would have already.

Note

ltc-joe

Related publications

Bitcoin just broke through the last line of resistance…

by ltc-joe

Bitcoin interim top complete?

by ltc-joe

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.