how low can you goexpecting a drop to $1100 or so.... some money trapped up at $1600
but holding until the retrace... currently expecting a heavy drop possibly down to the yellow circle and a wicked retrace for inverse H&S
if not sideways movement for quite some time.
keep in mind if it drops fast there will be some good scalping opportunities for the move back up to keep a legit market
TA not FA
Ncard137
RetraceThe orange oval is what we wanted to happen and it followed the push up with Bitcoin…..
Now we can expect a push down until the yellow circle around $1620 for a scalp retrace to $1720
IF we see it drop below $1690
IF not we can expect a push up to $1922 or a bit higher with a break of $1810ish
Indecision but bearishWe see indecision on the DAILY, this is the 4 hour but if we decide to get a bull run I expect possibly to $1720
Currently going with the bears on this one could see
Reversal @ $1430, $1350 or as low as $1000
If we go bullish I except to buy over $1660 and a push to $1720 before strong resistance….
Just TA not FA
I apologize for the messy chart just a way for me to see support from years ago
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
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.