We've fallen through a key dynamic level - if we don't see a push back above this level (the lime green line on the chart) before 0100 UTC-5 , I see a freefall incredibly likely especially given the likelihood that many stop losses will close not far below, and fear will set in causing panic sales. I dont use shorts, so i haven't categorised it as that... but I...
KRAKEN:BTCUSD BTCUSD has been repeating a pattern seen a month ago (Nov 14-16) in the last few days. I find it incredibly likely we enter another squeeze and hit the bottom Donchian band by early December ready for a large push. Again, Im and amateur and this is not financial advise
Head and shoulders identified on chart with regular rejection at key dynamic resistance points. momentum is being used up keeping us sideways right now and BTC needs some major news to gain the strength to push past 100k
BTCUSD has formed an ascending triangle above of a 2.1 std devs VWMA bollinger band reaching a point earlier this morning. From here it is a possibility we could shoot past 100k... but also the possibility of re-entering the bollinger bands which would meaning needing to find support quickly or roll the dice with a fight closer to the MA
BTC found support at 0.8 and then 0.3 std.devs of a 120 candle MA (90mins) gathering enough momentum to rise to 2 std.devs
bollinger bands have begun expanding. as long as bulls gather support at keys levels such as 1.6 std.devs we should see a renewed push to beyond 95k
the "My Strategy" on the chart was thrown together in abt an hour with profit factor > 3
it's heavily imperfect imo but provides a good idea of when a trend reversal might be occurring.
it just closed out a trade that started at the beginning of this push. Make of that what you will.
At the same time, im seeing a short term trend reversal on the 2min charts -...
BTC has now dropped from the 1.6 std deviations of it's moving average it was staying above throughout this push and is now trying to find support at 0.4
if it does not doesnt find support by -0.4, we could risk a full retrace to below 80k. this is a dangerous time for btc.
RSI matched to momentum of previous bullish waves is showing overbought rating, and we can see three distinct pushes (0-1,2-3,4-5) on lower timeframes that match the criteria of an elliott wave pattern. should see a drop to support soon, possible complete retrace to 70k but i don't see BTC dropping below 70k now. It was like silver's controlled value - now it's...
BTCUSD on short timeframes is entering a squeeze. Add to this a potential elliott wave triangle correction and it should be a recipe for another push to take us beyond 90k. I am skeptical but it's possible.
Two issues though:
1. @0830 inflation figures will be released, we can only hope inflation figures are positive and meet targets otherwise we'll see massive...
