FrankFerriss

FrankFerriss

Will Bitcoin Break 10k? I have now entered a long position based on recent action on the 4HR time frame. The Bulls - We are seeing a lot of pressure being put on the bears at the 9950-10,000 region, having touched that level multiple times, wearing them out a little more every time. - The previous 4HR candle showed decent bullish volume, giving more credence...

FrankFerriss

Confluence of Factors Creating Support : Intersection of the 50 and 100 EMA, potential support at TWO diagonal support lines, one going all the way back to February 2019, golden fib zone and strong volume profile (at the 6000 to 6500 range)

FrankFerriss

This is not a picture perfect failure test trade but the 0.65 fib, potential double top and potential top of a weekly bearish flag here packs an extra punch for this trade offering a great reward beyond the first target.

FrankFerriss

This is not a picture perfect failure test trade but the 0.65 fib, potential double top and potential top of a weekly bearish flag here packs an extra punch for this trade offering a great reward beyond the first target.

FrankFerriss Updated 

Here we look at how price has reacted every time the shorts reached the key blue support zone. Worthy to note is that the most recent bounce off of this support zone has proven to be the smallest and we have just recently come right back down to support. Despite still being in control, this shows the Bitfinex shorting bears are losing steam.

FrankFerriss Updated 

CORRECTION : Aggressive bulls could enter now since we have consolidated near the level, thereby creating some support close to the 88 level.

FrankFerriss Updated 

This analysis is neutral because right now we only have the POSSIBILITY that this ascending triangle will complete it's formation. Even when it does, further indicators and price action will need to be assessed to see if the bulls have enough momentum to break right through NO MAN's LAND>

06:03

FrankFerriss Updated 

Trade setup if this level is broken.

FrankFerriss Updated 

The bear market on the weekly chart has got shorters thirsty for a target to enter BITFINEX:LTCUSD , especially with the daily bearish divergence. Here we consider some good higher levels to short at as well as some levels which when broken could trigger the end of the daily uptrend.

FrankFerriss

All the text explaining my analysis is in the picture itself.