This was a short squeeze, 5500 incoming. 6550 was rejected right back into the downward channel, anything less than acceptance above 6800 is still downward.
Any acceptance on the 12EMA is getting dumped. 3 times so far. We should know in the next hour or so if we will go up to test the lin-reg channel or just straight down. Either way, everything is pointing down in general.
7200 incoming if 7650 doesn't break convincingly. Good place to exit alts and re-pack your bags lower.
I think a larger correction may be due, first to the .618 off the most recent corrected low, then to the .618 off the original low. June 6th is an expected rally date, which makes me think it will be a dump just like every other expected rally this year. I'm planning to pack my alt bags at the bottom of this correction as I think bitcoin is set to break up out of...
BTC displaying some pretty clear patterns on the barts. Triple top breaks down to the trend line. Bitcoin has also has 4 green days in a row, 5 if today closes green... this almost never happens. The volume has been pretty shitty for a bounce out of an oversold daily RSI, so I think a small correction downward is likely.
BTCUSD looking like it's going for another leg down. The 4/1 hour RSI's have cooled off enough that another push down will push the daily RSI into oversold levels. I expect the bear flag to break downward to 7200-7000 in the next 8-16 hours.
BTC is approaching 20RSI on the 4/1/15/5. I expect that to cool off a little and continue to dump down to 7500 or below, which will push the daily RSI into oversold. Every time BTC daily RSI gets oversold the price doubles. Given that the weekly equilibrium is looking to break in the next few weeks, this is a PERFECT technical setup to explode up and re-test 15k...
BTCUSD just extending it's equilibrium. I'm expecting a dump into the yellow around 9000 Sunday or Monday.
4 hours is getting rejected off the 26EMA and the trend channel has broken, but is getting wicked back at the .5 fib. If the .5 in the mid-low 180s breaks then tapping the .618 in the mid 170s is inevitable. BTCUSD looking like it's going to shit back down to the bottom of the trend channel makes me think .618 is coming. This will likely be the final shakeout.
EOSBTC forming a nice equilibrium. The challenge zone was attempted and rejected, but 12EMA is supporting and carrying the 4 hour nicely. If there isn’t a break up out of the trend line in the next 4-6 hours, I would expect it to drop to the bottom of the channel in the upper 180k range to continue the equilibrium with a break in the next 24 hours.