Hello traders as we can see with the BTC futures closing for we had an up move on the hourly chart and a very important one as we broke out of the resistance @7600 to 7700 .
So what we do now well it depends on the short term BTC is very bullish on the long term we are still bearish .
Things to consider inverse head and shoulder pattern broke up the target would...
Hello traders so it look's to me like a retest of the neck line of the inverse head and shoulders is still in play @7300 if it holds then we can open a trade on the long side if it dose not then maybe the down trend can continue to 6k even 5 k .
In the long term to even consider a bullish momentum we need to brake out of the .618 retracement of the Fibonacci...
Hello traders a short term retracement to around 7300 into the previous inverse head and shoulder neck line is very possible . This is also supported by the RSI and Stoch RSI indicator's where we are looking for support at witch point i would go long to @ and 8 k target as indicated by the Fibonacci levels .
Don''t forget this Friday CME futures are closing so we...
On the 4 H chart there is a nice head and shoulders pattern forming with a good long buy in opportunity.
If the price would break above the neck line of around 7300 it could easily see 8300 range watch for it.
Down we go a retest of 6700 or even 6500 would make for a great buying opportunity as it would form a double bottom . In the short term i would avoid either shorting or buying here .
Hope you all are doing great and avoiding the traps.
BTC is on the support line of 6600 if it dose not hold we could easy see 6000 even 5000 still this is a good buying location for a long to 8-9k.
What do you guy's think we go to capitulation or we stay in the falling channel?
Always do your own research this is not trading advise rather my own opinions.
On the daily chart the RSI and Stoch RSI are in the oversold region however we can still go down to a target of around 6600 and still be in the channel.
In my opinion the sell of that we saw a couple of day's ago was due to the miner difficulty adjustment taking some liquidity in...
