BTC - Decision time, it happens TODAY
Updated
It's now or never.
Key Notes:
1) 4 hour inverse H&S
2) Currently wedged up against long term trend line
3) Double 4 hour EMA support, and trend line support below it.
4) Low volume, market indecision. Something huge coming very soon.
5) RSI supports upmovement
Bullish Targets:
1) 9115
2) 10,176 (200 MA)
3) 11,620 (H&S)
Bearish Targets:
1) 7900
2) 5954
Risk/Reward: Minimum 1:3 at time of creation (8600) for triple top test.
Zones of interest:
Watch for breakdown of $8531 trend line to trigger sell off.
Key Notes:
1) 4 hour inverse H&S
2) Currently wedged up against long term trend line
3) Double 4 hour EMA support, and trend line support below it.
4) Low volume, market indecision. Something huge coming very soon.
5) RSI supports upmovement
Bullish Targets:
1) 9115
2) 10,176 (200 MA)
3) 11,620 (H&S)
Bearish Targets:
1) 7900
2) 5954
Risk/Reward: Minimum 1:3 at time of creation (8600) for triple top test.
Zones of interest:
Watch for breakdown of $8531 trend line to trigger sell off.
Note
New zones of interest, watch for false breakout, but looks strong. I'm currently waiting to enter until I see 9k clearNote
Sorry, forgot the daily 20 EMA as well. I've also updated the labels to be more clear at the levels. We're currently very overbought though so look for a retrace around 9k I'd imagineNote
Watch for a retrace after 7pm candle closes (EST), might shoot up to 9550 or something along those lines then crash down hard, we shall see. Volume just doesn't look too good.Note
Looks like we saw continued growth overnight, and finally had our sell off. Not at the zones I anticipated, but none the less I'll take it. Please look at the update below for zones of interest to lock in potential profits.Note
Note
4 hour running out of steam, depending on your risk tolerance could be time to exit.Note
Note
If uptrend channel breaks, we should see a retracement towards 9200 (4 hour 50 ema), if not, hourly EMA's might stick @ 9633Note
Whoops, 4 hour ema is @ 8800 not 9200. Regardless, watch for a break of the uptrend line if we're to go up, otherwise I'm still expecting a downNote
We had our down, now we have a potential ascending triangle on the 4h. 10098 - 200 MA 4hr resistance
10337 - Short term resistance
10581 - Daily EMA resistance
Breakdown if blue trend line breaks (9864 area) break up towards 11k expected if ascending triangle breakout confirms
Note
Sorry, forgot link!Note
Streaming live for all those interested @ twitch.tv/cryptocrewNote
Zones of interest if your a buyer or a seller, we had an excellent daily close, but need a re-trace for the day, the next 24 hours will be critical!
If you find my information helpful, please return the favor and hit the like and follow button, it's very encouraging and keeps me motivated!
Twitter: twitter.com/Jedi_ant
Twitter: twitter.com/Jedi_ant
Related publications
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.