BTC Realtime Analyse #7

Updated

Hello all my dear friends,We are entering 7th week that this weakly idea has been started.Thanks all of you for your consideration, kindness and great messages during last weeks.
First of all i want to announce that i will not publish long term speculations in BTC Realtime ideas any more and we just analyse possibilities of short term here.I will post long term BTC analyses in another ideas.
So let's see what we have for next 7 days in chart.
As you see i have arrows in 3 colors.Black,Orange and blue.Let's look at orange arrow first.
You remember that we had 3 iH&S in BTC Realtime #6.Unfortunately we stuck in first one yet and couldn't complete right shoulder yet.Look At next week idea.

What is important is iH&S theory is still in play,even if it is a rare possibility.As you can see in chart below we can complete right shoulder and come back to game like orange arrows.

After Orange is time to look at Black arrows that have much more possibility.As you can see in chart bellow we formed a Ascending Triangle with movements of last days that is a bullish pattern.look at it,i draw it with red line.

When we zoom in more we can see that we have another triangle in it that we stuck in it from 2 days ago.

I talked about it much in last updates of BTC Realtime #6.As you can see we had many efforts to break in in both side but every time we just failed.We had fake break out in both sides too and we are near to confirm its new break up.Need to stable here above this triangle and continue moving up.
And Blue arrows.As you can see in chart bellow,maybe we have a bigger symmetrical triangle here instead of ascending triangle.

This is a continuation pattern and have much possibility to back us to downward but i want to be positive now till i find a better reasons for being negative.
We need to monitor chart now and decide what is best to do.
I will update this as soon as find a new sign,like always.Thanks for togetherness with me,Please like this idea if you enjoy my analyse style and work,don't forget to leave a comment below for me to help knowing your opinions better.
Good Luck
Peyman A

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<<Moment of Truth>>
Blue ,Orange or Black ,that is the question. Many people fall of last days bear trap,it's time to BTC show us how much they loose?As you can see we have 3 color of arrows in chart. Further moves in favor of any of these arrows have different meaning.
If we continue to go up like orange one,we will have a full iH&S waiting to confirm.
If walk on black arrow,we will stuck in a bullish ascending triangle.
And if we walk on blue we will have a continuation symmetrical triangle that can easily move us lower.
Let's See what will happen.

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Let's look at chart more precise.
More than anything we have patterns and areas that evolve themselves all time,these days.A symmetrical triangle to an ascending one,a bearish wedge to a channel,a resistance to a temp support and vice versa.Market Slowing its movements and show me have more interest to move in horizontal.
It's a long time that i remember this fact that before any new trend we need to stabilize first and then start a new trend.In many aspects i prefer market continue move forward in a limited range for a while to give more meaning to its different areas and patterns.We need market to believe in some support and with trust in it put new moneys in it and help to start a new trend.
Somehow i expect a range movements between 6000-7200 is a ultimate stabilize area fpr BTC.MIners continue to mine without loose anything,people start to believe in it again and even traders can earn more healthier and safer.

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Maybe some day it was a Taboo for BTC to go below 7k and after 20 hour it came back to life from there but as you can see BTC familiarize people to this area gradual.Now we are here more than 1 month and you see many people start to believe that never we leave this area.It's a normal phase of bear market that people loose their hopes and leave market and this is good,because this phase always come near the end of bear market.

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Let's zoom in
BTC climbing slowly and as you see it can't pass resistance area that i draw.after that BTC must break blue line to make good news for us.

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What i forgot to say is that we broke and reached above of ichimoku Cloud in 4H with last bounce.
Somehow we are reached upper target in overbought section of RSI 4H with lower price than last week.we have a bearish reversal in RSI too that show it started to recover itself.

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That bounce moved us above EMA 50 and 200 in 4H time frame too.We reach this area for second time in 10 days after a long time.we have more strength as 10days ago.It's a good sign,really good,we need to stay above and i think if we move up little more ,we will have a golden cross in EMA,too.Last Golden cross in 4H was in April 20.
Don't get excited,we need to break resistance above first and have much distance to golden cross now.

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Still climbing,reach blue line and pushed back.It's a Strong Bull flag now and even have room to drop little for testing lower broken resistance as support, now.

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Didn't want to share this but one of dear followers of me ask it here,as you can see instead of bearish reversal in RSI that i mentioned it few hours ago,there is little signs of hidden bearish divergence too.can't count on because it is in shorter time frames and can make a sideway for recovery or little drop,but need to be more cautious now.

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So,signs in RSI working finally, it's time to last resistance area show itself as a temporary support,in this test.

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Congrats my friends,My iH&S worked finally.I started to talk about it from 3 weeks ago,before shoulder start to form,and now see here scamers talk about wizard and how they are smart.what is important is in these 3 week is i never stop talk about this iH&S,even when many people said this isn't iH&S or this is failed one and you know it.

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So let's check what we have?

It's time to work on second iH&S.we broke many important resistance with this bounce,even we jump from our wedge.look at it.Dashed lines

Remember when i mentioned this?In BTC Realtime #3.excactly 1 month ago.look at it

We are broke that wedge now and we have to test it now as a support.very good volume in market now,we need to hold this achievements now.

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These are new resistance and supports levels.

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Now it's look like we have a bull flag here,good way to recover indicators and earn more volume and trust.

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Such a Strong movements,this Intersection is a very important resistance,red dashed line was bottom line of triangles that we had for a months and we broke it 1 month ago and red line is can be neckline for second iH&S.Look like BTC stop here temporary but i'm sure that we have easy way till 7800.

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* chart of last update

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Evolving yet,can't wait to see what happen at the end of this arrow,maybe we drop before reach there but if stay in shape,have much possibility to bounce after reach there.

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Like BTC wait for my update and start.

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Now it's evolved enough and can see the path more clear.Still very strong with good bullish momentum but it's possible to drop to test broken wedge as support,too.Let's watch what will happen?

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There is multiple signs in this structure,need to see tendency to which line in more and find final answer from it.As you now i hate guessing in my job.

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It can be a another iH&S,Need to reachneckline and see what happen.

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We are here at neckline with EMA golden Cross.Wait.

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I mentioned it 3 days ago.

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So BTC pushed back by resistance above in the neckline,need to see that it can make another try or not?if it can't iH&S Failed at all and BTC need more power to go forward.

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BTC testing neckline several time,if you look at chart in 2h time frame you can see that iH&S more clear but another pattern that we have here is an Ascending Triangle.

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Wow,again BTC waited tor my update,lol.It's work finally and as you see resistance above push it down again.this game can change our bullish pattern to a bearish one simply.look at chart bellow

It's a bearish wedge and BTC must run from its limitations.For few hours i tried to deny this but BTC need to break this immediately and continue.If we stay in it,for sure we drop to 7300 at least.

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So you're welcome,it's started,in few minute from trying to win now btc must try not to loose,Let's look this support can resist?

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To better realize situation and find out how this resistance strong?and why?

We are exactly at meeting place of this two line.Great Resistance

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Still every thing is good,now let's back testing the wedge.Answers there.

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It wasn't successful,need to hold blue dotted lines.

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Still holding this support.BTC need to decide soon.We need to make a higher high to avoid H&S formation.

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Want to help to you for remember some important thing from BTC Realtime #6.as you remember wa had 3 iH&S.First one worked perfect and we are about to complete second one's head.Look at it:

As you see we are already in neckline,don't need to be much strict on this,don't need to reach 7800 exactly,we can start to form right shoulder from here.Don't panic if price start to drop,move your stops below 6790 and be relax.

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This is a summery of what we have in BTC Chart.

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Let's back to present,answer a question smart guys,Which one is it?
H&S or iH&S ???

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*UPDATE*
Finally we entered last weeks of second month.Guys, BTC Realtime #8 is out.
<deleted>

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Here

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Update

Peymana71

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