gottimhimmel158

gottimhimmel158

I haven't included a call here. But it's setting up a little bearish.

gottimhimmel158

On this chart I've written commentary which helps explain how to use/interpret the volume profile.

gottimhimmel158

You can see some similarities but the question really is which instrument leads which. I just wanted to put this comparison out there.

gottimhimmel158 Updated 

I think the in-chart text is explanatory enough.

gottimhimmel158

Here's an unconfirmed double top in formation on XMR with a target.

gottimhimmel158

You can find more on complicated head and shoulders patterns here: l

gottimhimmel158

Not making a call with this chart, just showing you a 4hr chart with annotations and thoughts. Things should be clear.

gottimhimmel158

The number of longs on Bitfinex has been trending downwards. This doesn't mean that those positions have gone short; but, it does mean that traders who probably went long sub $7000 have been taking their capital off of the table.

gottimhimmel158

BTCSKW pulled back twice to the lower trendline of the rising wedge. I've indicated where important support is located and the price target should we break lower.

gottimhimmel158

XBTUSD (kraken) formed an ascending triangle following the upmove. We then brokeout higher, but failed to confirm, forming a "big M" double top. We threwback into the pattern (the triangle) and then we moved into a downbreak. We quickly pulledback, then moved lower, now we are pulling back again. The 50% fibonnacci ($8165) has seen price reject 3-4 times, making...

gottimhimmel158

We just broke out on solid volume from a consolidation pattern, which was noticeable how it failed to break below.

gottimhimmel158

Our last 30 minute candle took out the 3 previous' highs; but, was that a real pump candle or just to keep us in whipsaw? The low volume is suspect.

gottimhimmel158

I may have called a sell too early we will see. I'm wondering where the volume is on this bullish move. We'll just have to see.

gottimhimmel158

We just printed a bearish candle below the previous bear candle - signifying a move out of whipsaw (where candles close within the range of the previous candle). If we break local support expect dumping pressure to pick up. I would be moving into cash right now. I COULD BE WRONG. DO YOUR OWN ANALYSIS.

gottimhimmel158

After whipsaw with most candle closing within the range of previous candle, we have a close below the bullish maribozu candle, signalling weakness. If this 30 minute candle closes below the bearish confirmation candle and breaks below this trendline, I see a dump incoming. Otherwise, we'll return to whipsaw.

gottimhimmel158

My price target for the Bitcoin/SKW using the Rising Wedge is the S.K.W. equivalent of $7770. But we'll see if price turns back around at the bottom side of the rising wedge trendline. I remain short for now.

gottimhimmel158

There are a few bearish signals on BTCUSD 2hr. > RSI crosses below the 50. > The P.O.C - where most volume by price has occurred on the since April 28 (about 3 weeks) is back down at $6840. > We've broken below an important uptrend line that came after the short squeeze.

gottimhimmel158

I've indicated on the chart with horizontal lines where there's support on the way down. But there's an huge area of zero liquidity where we could rapidly go back down. I'm VERY bearish right now.