BTC (Prj.2019.P03.E11) V2.Consolidation

By ssari

Updated

Update from previous post.

BTC (Prj.2019.P03.E11).Breakout imminent?

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More facts:
Looking at the weekly. 3 more days and we would have ALL TIME HIGH (ATH) on the Weekly chart:

Daily Chart:

3 Day Chart: The next 3 days will give us the clue or confirmation.

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4 HRLY Chart that has RSI confirming the price formation\pattern.

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Hidden Bullish Divergence on the 4 HRLY

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With all divergences, there is a possibility that the momentum indicator fixes the disparity with price, with either a big drop or a big uptrend. We are playing the odds using other information such as previous support and resistance, trend and EMAs + candle sticks.

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Arriving to critical point ... looking at the RSI as an indicator

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Progress update:

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Update on the target and why.
No matter how you look at the 2 possible scenario's the macro level target seems to be confirmed.

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Another miestone to this theory has reached.

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The bears hit as it slowed down at the apex. Now its up to the bullish people to pounce on the pullback that many have been waiting to add to the long hold. This could slip to 11150 range but if its as bullish as I think it is, it might be 11350 as the re-bounce area.

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OK. What to watch for.
If the daily closes below this blue region....its not a good sign.
If it does, I'm afraid the first target will be to retest what was a strong resistance and now support, 11k. This will be tested, but the drop will be slow, bouncing along the way at these EMAs and Fib levels, but ultimately the main support.

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To me this is a big opportunity... the consolidation area now looks like bullish channel that's completing what many identified as the V and cup or just Cup where the consolidation is the handle. What's perceived is reality. I'm in...at least short

ssari

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BTC (Prj.2019.P03.E11).Breakout imminent?

by ssari

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