Longest Position I have held aside from hodling. I wanted to take profit so many times and my emotions would get me anxious to take profit. But i knew that i needed to stick to my TA and not my emotions. Ive been down that road so much and ive gotten better at managing it and because of the progress i made in managing my emotions i was able to hold this position...
Price Action Analysis
On the monthly chart, Sept candle closes as a bullish engulfing candle. Oct candle shows that the bullish engulfing pattern was weak.
Current range we are in we have been in before. I definitely want to believe that what we are seeing now is just accumulation in a previous area with lots of price history.
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Still bearish since my first post which has developed well in favor of my expectations.
Just updating my log..
Potential Prices we could see upside from would be at $9000- $9300
I plan to continue watching the price action in the coming days to see at what prices support resistance are shown and watching out for patterns and candles at those prices.
Im...
Im open to percieve the market in both bullish and bearish scenarios but Bitcoin simply isnt showing bullish price action in my opinion.
I would feel more bullish if the price would break resistance more often then negating it like it does when its certainly in a bull market.
Price continues to contract which indicates a breakout is looming (obvious enough)
I...
Whats visible to me...
- Closest Resistance about 10200. Next Resistance at 10500
-Closest Support about 9700-9500 or 9100
-Bearish Pennant (Continuation Pattern). Or it could be a larger pattern currently developing.. which would give me the idea that its possible it stops at one of the green arrows and reverses shortly after. More PA is needed to evaluate.
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This Is what looks most clear to me on the weekly.
- Currently the price is creating a pattern which can be seen as an ascending triangle or a symmetrical triangle one is bullish and the other is more neutral imo.
- Bearish Divergence exists on both the MACD And RSI.
- Candle Closes topped out at a similar price level which could be seen as a double top.
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