We recently retested the 62 and 78fib and failed to break through. Momentum has shifted bearish again. I shorted a 4h HnS setup and opened it on the right shoulder at around 15500usd Bitfinex. I would like to see it dropping sub 14000 and make our way down gradually towards 10k for the big break. Im considering 15k as solid resistance now to protect my short.
The...
BTC clearly hesitated in the lower 10k's to fall through and managed to spring back up. This indicates that support is still strong enough to sustain these higher prices. As we are climbing back up we are approaching a possible breakout pattern, with a breakout price of 16500usd Bitfinex that coincides with a break of the 62fib. After we take out this level there...
The bulls are losing steam as volume diminished towards 4400 and 4500 resulting in a breakdown and a confirmed break in market structure. I will be going short in the red box indicated on the chart. This area will act as resistance as 4400 is a big level on the charts and the uptrend line that has been broken is around that level aswell. It could also be the right...
Bitcoin fell back and made a double bottom around 3500ish. This double bottom provides a perfect target price for a short. I will be looking to open shorts in the red box indicated on the chart. The pattern I will be playing is a Head and shoulders indicated by the red arrows pointing down. Price will also re-test the longer term downtrendline since the top...
As BTC went for the 3-way push, a short term head and shoulders is lining up on the 15m allowing us to enter on a solid short with good risk reward. Declining volume could indicate that this was indeed the top. The 4hour candle has just put in a spinning top aswell. In order for this pattern to succeed, price will need to break below 4180. If however we break...
Volume went down nearing 2500, the bulls were getting exhausted. Bearish technicals: 1h bearish pivot, 2h spinning top, first 4h red candle close / double doji (indicating a reversal), 4h stoch was overbought and short term ones were exhausted, 1hour hidden bearish divergence on the RSI on that new high towards 2485, the 4h 2h and 1h MACD were pushing for a red...
