erod0601

erod0601

BTC currently trading in this upward channel within this ascending wedge with a possible break out to the downside after it reaches the top of the wedge. Here are basic support and resistance levels charted

erod0601

Good morning everyone! Here is the latest with Bitcion: This is on an hourly chart, I normally use a 4 hour. Bitcoin pushed up to the neck line of the inverse head and shoulders with unbelievable effort, considering it had hardly any volume most of the time. It was rejected by that trendline. It didn't have enough momentum and buying pressure to break through that...

erod0601 Updated 

Hi everyone, The upcoming 24 hours will be a crucial decision making point for bitcoin whether it wants to confirm this as a proper support channel or if it wants to tumble back down to make new lows. As you can see, we finally have BTC breaking out of that purple downtrend line. This is good because it technically confirmed that trendline as support and is...

erod0601

Just an idea. Will keep this updated if any major changes happen.

erod0601

As BTC breaks down through support, I suspect we'll be heading down to our next fib level at the .5 retracement with a minor bounce there

erod0601 Updated 

Well, you would think it would be an average head and shoulders as we've had 100 times since December's decline... but no. On the 4 hour chart we have an awkward right shoulder clearly missing some growth. I don't like to call this a proper head and shoulders formation but's its the best I've got for now. I don't see many strong support levels in this zone BTC is...

erod0601 Updated 

Update

erod0601

BTC on the 15 MIN. I expect BTC to be trading within the major resistance and support zones labeled on the chart. Then possible bounce down to next fib support levels around 9800. Will keep this updated.

erod0601 Updated 

Clear BTC bear flag on small time frame about to test the 200 EMA. Should be able to bounce off of it, temporarily. We are currently oversold on the daily RSI so we may be bouncing back down off the trendline.

erod0601

If XVG can successfully stay above the .236 we'll see BTC beginning a new uptrend channel with new price targets. Target 1 - 1067 Target 2 - 1241 Please do consider this a high risk trade as BTC is currently trading at a very uncertain level and in my opinion is still due for correction.

erod0601

FIB and resistance/supp levels

erod0601

Key resistance levels to keep an eye on

erod0601

BTC bearish flag drawn on the 30 minute

erod0601

Showing basic downtrend and support levels

erod0601

Downtrend lines and BTC basic support levels