ERD:BTC - Patiently waiting for an opportunity to buy in.
Updated
Head and shoulders registered.
Measured move down to 78.6% Fib (about where thick orange daily 200 SMA line is at -- Note that this chart is the 3hrly, showing excellent confluence between my Cyber Ensemble Buy/Sell signaling algo at this timeframe for this chart).
Not necessary if it will be fulfilled, but will start cost-averaging if it hits about 61.8% Fib level. Won't buy in at this level -- there are other good opportunities that I am already holding, having bought in at good positions of strength. The most recent one that I had decided to share was Kusama: tradingview.com/chart/KSMBTC/U1uRR11q-KUSAMA-KSM-BTC-broke-back-up-above-200-SMA-on-the-30-mins/, after having previously accumulated Polkadot (DOT) prior to its mainnet launch @ Huobi.
Note: The head and shoulders measured move not necessary to be fulfilled, but merely to serve as a rough idea of how far it could go.
Ichimoku Cloud still bearish, however some bullish W-ing accumulation pattern have been going on prior to the more recent short term pump to retest the 3hrly 200 SMA, at the last trigger of the buy signal by Cyber Ensemble. If it gets rejected there, plus if it falls below the red 21 EMA and the green 50 SMA, then the likely hood of this buying opportunity playing out increases.
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Daily Chart:
Note: There is not enough candle resolution for Cyber Ensemble to capture certain more volatile/sudden moves on the daily chart.
However, a bullish signal has been triggered, lessening the chance that this buying opportunity may play out (which is ok).
Measured move down to 78.6% Fib (about where thick orange daily 200 SMA line is at -- Note that this chart is the 3hrly, showing excellent confluence between my Cyber Ensemble Buy/Sell signaling algo at this timeframe for this chart).
Not necessary if it will be fulfilled, but will start cost-averaging if it hits about 61.8% Fib level. Won't buy in at this level -- there are other good opportunities that I am already holding, having bought in at good positions of strength. The most recent one that I had decided to share was Kusama: tradingview.com/chart/KSMBTC/U1uRR11q-KUSAMA-KSM-BTC-broke-back-up-above-200-SMA-on-the-30-mins/, after having previously accumulated Polkadot (DOT) prior to its mainnet launch @ Huobi.
Note: The head and shoulders measured move not necessary to be fulfilled, but merely to serve as a rough idea of how far it could go.
Ichimoku Cloud still bearish, however some bullish W-ing accumulation pattern have been going on prior to the more recent short term pump to retest the 3hrly 200 SMA, at the last trigger of the buy signal by Cyber Ensemble. If it gets rejected there, plus if it falls below the red 21 EMA and the green 50 SMA, then the likely hood of this buying opportunity playing out increases.
----
Daily Chart:
Note: There is not enough candle resolution for Cyber Ensemble to capture certain more volatile/sudden moves on the daily chart.
However, a bullish signal has been triggered, lessening the chance that this buying opportunity may play out (which is ok).
Note
Note on the 15mins chart:Green jerk line falling below red acceleration line, suggesting possible turnaround ahead (rather than pushing higher with sustained strength).
However, Snap and trajectory still looking mighty bullish at the moment.
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