Break with no volumeI expect the price to retrace to at least $1450 again before take off. Although when we reach $1450 we could see a continuation of a drop in price. If we break $1620 we could see a surge in volume and the price sky rocket up. But for now we know the price hasn’t been able to break $1620 yet, it is moving sideways and if it inches above that price we will keep an eye on the move upwards, until then just hold onto your cash unless your trying to scalp.
Remember year 2018 May-June and take a lesson from it, the merge may make the market react different but patterns have a tendency to repeat themselves
Ncard137
Forgot to publish (Scalp)This was my idea yesterday, I forgot to publish. Obvious H&S breaking the uptrend channel
At $1720 we should see some support and possible scalp up to $1800
Overall still a downtrend until proven otherwise….
Could break $1720 and head straight to $1380,
As we all know the market doesn’t move in straight lines and when it pushes far from the ribbons we usually see a heavy retrace always aiming for .618
$1816, $1850, $1890 are rough estimates if it reaches that high, if not sell for better entry.
Good luck, and have fun with it
Head and should is better the phucking if done rightI expect the head and shoulders on the 15min to push down to the lower channel break and continue into the bear market to about $1380
There might be a small retrace to $1920 for the right shoulder but it’s unlikely.
We might get some support at $1380 for a scalp trade, then continue lower
Overbought in RSI on the Daily chart
And 50% on the 4hr chart
Not financial advice but good luck hope this gave some insight
just an ideathis is my idea. Breaks the downward channel, moves upwards similar to previous movement then higher.
Orange ovals are an example.
Purple ovals shows the market tapping off resistance multiple times.
i believe we have bottomed out.
If not keep in mind it may retrace as low at $2.50 but has a lot more potential to gain.