Yakuza
Bad news bears slice price like Katanas through beefWelcome back to the slaughter house as a chain of bad news pours cold water on our Club Moon rocket fuel. Let's jump directly into the 4H chart. (Last publication failed to notice the chart wasn't on log-scale. Sorry.) From March 1st, the bulls were slowly marching the price towards our downtrend channel top, the volume remained low and mostly sideways trading.
Then BAMN! Binance phishing/hack, Japan FSA punishments, and US SEC new regulations chilled enthusiasm for BTC. Thankfully Binance was able to rectify the situation fairly quickly and establish a temporary support around $9800.
At this point, I'm happy to keep the pop-corn out and sit on the sidelines to see if we can start to climb back towards 618 fib. The 2017Q2 support line has been officially violated and I can no longer consider it a valid support.
Looking forward, I can see more sideways action as the market tries to stabilize its bearings.
Good luck trading!
<<< For entertainment purposes only, this does NOT constitute financial advice. I'm not responsible for your losses and profits. Nor am I your investment advisor. >>>
Breakout Moons to the BTC Yakuza beatsWelcome back to Club Moon!
Looking at the 4H chart, we have finally broken out of the downtrend channel and slowly moving up towards the 618 fib. Noting that the EMA200 has finally made the golden cross with the EMA50 and we are above the bearish ichimoku clouds. I suspect we will see some sideways trading before some BTC Yakuza primes the pump.
I'm guessing the Chinese holiday goers have finally returned to help build up the market back to it's previous glory. I can easily see BTC reaching $12k before hitting some upper resistance. Looking at CEXIO exchange, I see a 700BTC sell wall hovering between 12.2k and 13k.
Good luck trading!
<<< For entertainment purposes only, this does NOT constitute financial advice. I'm not responsible for your losses and profits. Nor am I your investment advisor. >>>
