Crypto-Hamster

Crypto-Hamster

The ascending triangle was broken upwards, and if the price will not return back soon, it would form a channel. As any channel it must be broken one way or another sooner or later, and since once it was already broken down before, it would be logical to expect it to be broken upward now. However, crypto-market is irrational, so I wouldn't be so sure.

Crypto-Hamster

Of course, history never repeats itself, and I am pretty bullish overall, but still... In general, if this will happen, I will not be surprised at all. I mean, it fulfills everything, it would make rekt everyone even more, and bitcoin still will shine eventually.

Crypto-Hamster Updated 

For the last couple of days after the last huge drop bitcoin price approached the ~7070 level several times. The more the level is touched, the more likely it will be broken, right? I drew a triangle, since the drop at the middle seems to me to be a fake breakout.

Crypto-Hamster

Hardly can believe that 7k level means much. There was some volume there before, but with the current thin market I wouldn't expect something more that one month to be able to affect the price on a daily scale from the technical standpoint. Especially, if we would take into account the vacuum at this level during the last two huge moves. It might mean that if the...

Crypto-Hamster

The descending triangle was modified by analysts several times in order to follow the price action. In fact, the few first spikes shouldn't be taken into account indeed. In any case, with all the visibility of the trend, usually such patterns do not play out, because the market tends to go against the crowd. However, we could see a couple of bounces in the nearest...

Crypto-Hamster

Another long consolidation period with collecting stop-orders above and below the settled price range. The next could be to the upside, since a lot before were to the downside. Also, for the current bitcoin condition bulls seem to be more supportive by the crowd, so every next substantial upward movement may lead to a next rally.

Crypto-Hamster

Watching for those key levels to be surpassed. Each of them will add a confidence for a bull market to come to power. The volume is showing sings of life too.

Crypto-Hamster Updated 

Bitcoin relatively healthy approached a very important, and even critical resistance level of around $7.7k. If it will be broken, we will have a very substantial support there! It would be nice if #BTC will not loose the momentum.