simrangill1551

simrangill1551

It seems like a bullish pennant is forming on the 1hr BTC chart but all the the indicators are pointing towards a correction or a retest of the 37ish area. There is a bearish divergence on the RSI and MACD so it's its 50/50 which way BTC price will break. Plus, the 42ish area is an even more significant resistance and we will likely need more momentum to break...

simrangill1551

Bitcoin formed what is called a diamond top, which means exactly what it sounds like. This might be a local top. The bulls were fighting hard this week but they might have run out of gas. Let's wait and see. TRADE WITH CAUTION!

simrangill1551

I still think we're in a downtrend, here is a short term bearish divergence. Very unlikely we'll break 38k today. I think we'll go down to atleast 35k.

simrangill1551

Enter long on breakout or near support. Target would be near 725 but it may as well keep going further. This is only an opinion, not financial advice. Good SL if enter on support would be 490. SL if enter on breakout should be around 5%. Confirm volume on entry.

simrangill1551

CHAINLINK has seen a lot of bullish momentum after the recent dip and there seems to be a potential head and shoulder pattern forming on the 1hr chart. If the right shoulder is successfully formed then, we could see a pump after the neck line has been breached. The technical target for the H&S is 53$. For now, let's wait and see. Wait for neck line cross to enter long.

simrangill1551

I can see a cup and handle forming on the 1hr and 4hr charts. According to technical analysis, there is atleast 20% upside. Wait to break neck line to go long. Any criticism is welcome, newbie here.