DrDovetail

DrDovetail

Hopefully this shows up correctly on the chart , I tried to connect with a green trendline the bullish volume swell we got today to the biggest one we got in 2017 back on september 15th(which eventually took us to the ATH) . It is currently the same exact volume as it was back then and todays candle is about to close out as a massive bullish hammer. This is the...

DrDovetail Updated 

BTC has been very oversold on RSI as of a late so a bounce was to be expected. It also happened to bounce offf of an old trendline(pink line) that can be traced back all the way to July. In this bear market we've seen many "dead cat bounces" so far though so best to only ladder in a little at a time with the pink trendline suppport of 5960 being where you buy in...

DrDovetail Updated 

The double bullish reversal hammers on the day chart the last few days turned out to be yet another bull trap by the bears. It was first evident when the second green hammer had hardly any volume coupled with it....but far more evident once the next days candle(yesterday) began forming a bearish engulfing candle giving a solid warning to sell. The bearish...

DrDovetail Updated 

Still waiting for a volume boost for confirmation of a valid trend reversal. We didn't get one today but instead we appear to have gotten yet another bullish reversal hammer (in the magenta circle) a good sign even without volume yet that a bull reversal could be likely. the 200 day exponential moving average is still acting as great resistance. Yesterday that...

DrDovetail Updated 

The Hammer is a classic bullish trend reversal pattern so it's a welcome site on the day chart to us hodlers. However, On the journey from the all time high to where we find ourselves today there's been many a bulltrap and fake breakout along the way. Proceed with caution and wait for a followup candle to close above the top of the hammer for the following day's...

DrDovetail Updated 

Since BTCs decline from its all time high in December you can see it hasn't gone outside of this downward channel (in green) and today so far seems to be no exception. Another extremely reliable line of support BTC has not dipped under and has in fact bounced off of several times in the last 6 years or so is the 200 day exponential moving average (blue line) on...

DrDovetail Updated 

What do you guys think? Could finally mean a trend reversal after yesterday's vicious mauling by the bears.