The double bullish reversal hammers on the day chart the last few days turned out to be yet another bull trap by the bears. It was first evident when the second green hammer had hardly any volume coupled with it....but far more evident once the next days candle(yesterday) began forming a bearish engulfing candle giving a solid warning to sell. The bearish...
Still waiting for a volume boost for confirmation of a valid trend reversal. We didn't get one today but instead we appear to have gotten yet another bullish reversal hammer (in the magenta circle) a good sign even without volume yet that a bull reversal could be likely. the 200 day exponential moving average is still acting as great resistance. Yesterday that...
The Hammer is a classic bullish trend reversal pattern so it's a welcome site on the day chart to us hodlers. However, On the journey from the all time high to where we find ourselves today there's been many a bulltrap and fake breakout along the way. Proceed with caution and wait for a followup candle to close above the top of the hammer for the following day's...
Since BTCs decline from its all time high in December you can see it hasn't gone outside of this downward channel (in green) and today so far seems to be no exception. Another extremely reliable line of support BTC has not dipped under and has in fact bounced off of several times in the last 6 years or so is the 200 day exponential moving average (blue line) on...
What do you guys think? Could finally mean a trend reversal after yesterday's vicious mauling by the bears.