To turn Bearish we will look for a daily / 2D candle close below Blue trend line and Green support line.
In Jul 02 btc quick bounced from 9600 and because the market sentiment showed this area as strong support, a lot of people thoughts we will not go below it again including me where many stop losses will be placed below this price, but if we take a second to consider coin behavior and long/short ratio, btc is used to hit stop losses before making a big move so this could be it 9300 and that make sense (another bear trap!).
When we deal with 1d and 2d timeframes, we must give the market the time it needs to develop, since we are not making any short term analysis and we are only focused on the bigger picture. That's why we said before that we will not find out the exact count for the current bull run till its completed and we are trying to find the most possibilities and today after the last dip we think this count on chart is the most possible one.
Reasons to remain bullish:
-Price is sitting on Blue trend line and Green support line
-Daily hidden bullish divergence on RSI ( orange lines )
-2D hidden bullish divergence which is more TRUSTED ( picture below )
-Symmetrical triangle invalidated since we got lower bottom, the pattern turn to be a large bullish Bull Flag ( purple lines )
-ABC correction with C leg lower than A, forming bullflag ( healthy correction )
-Repeated daily fractals on RSI & MACD , we can expect a higher macd wave formation
-Oscillator 1,2,3,4 from previous bull run, we can expect same pattern repeated
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Please understand that we are only analysis the price movement and sharing my view with others only for education purposes, none of my ideas stand as buy/sell signals and i am long term holder, This community is about sharing and learning and there is nobody got the right to judge if ideas being right or wrong!! If you don't agree just walk a way.
If sharing my views help, leave a follow, give thumb up, your opinions are welcomed.
===========================================
Previous ideas:
Reversal: Resistance Turned Support
Bitcoin bull run fractals on daily - Targeting Golden Ratio!
4HR hidden bull DIV completed! Bear Trap triggered below 10k
Original idea:
Get in the train and ignore your fear, ATH in 1-2 month
In Jul 02 btc quick bounced from 9600 and because the market sentiment showed this area as strong support, a lot of people thoughts we will not go below it again including me where many stop losses will be placed below this price, but if we take a second to consider coin behavior and long/short ratio, btc is used to hit stop losses before making a big move so this could be it 9300 and that make sense (another bear trap!).
When we deal with 1d and 2d timeframes, we must give the market the time it needs to develop, since we are not making any short term analysis and we are only focused on the bigger picture. That's why we said before that we will not find out the exact count for the current bull run till its completed and we are trying to find the most possibilities and today after the last dip we think this count on chart is the most possible one.
Reasons to remain bullish:
-Price is sitting on Blue trend line and Green support line
-Daily hidden bullish divergence on RSI ( orange lines )
-2D hidden bullish divergence which is more TRUSTED ( picture below )
-Symmetrical triangle invalidated since we got lower bottom, the pattern turn to be a large bullish Bull Flag ( purple lines )
-ABC correction with C leg lower than A, forming bullflag ( healthy correction )
-Repeated daily fractals on RSI & MACD , we can expect a higher macd wave formation
-Oscillator 1,2,3,4 from previous bull run, we can expect same pattern repeated
Please understand that we are only analysis the price movement and sharing my view with others only for education purposes, none of my ideas stand as buy/sell signals and i am long term holder, This community is about sharing and learning and there is nobody got the right to judge if ideas being right or wrong!! If you don't agree just walk a way.
If sharing my views help, leave a follow, give thumb up, your opinions are welcomed.
===========================================
Previous ideas:
Reversal: Resistance Turned Support
Original idea:
Get in the train and ignore your fear, ATH in 1-2 month
Trade active:
Btc bounced nicely from blue trendline and green support line, if we look to 4hr chart we can spot hidden bullish divergence supporting our view:
Comment:
Welcome back 10k!! $1000 1hr candle jump, price re-tested 9300 forming higher low then jumped to 10300.
Comment:
Nice! 10700 hit, now there are possibility to retest 9800 area before resuming up.
Comment:
We are still waiting for the possible retest of 9800s level, we dont feel ok for current inverse head and shoulder breakout especially after 4 hr hidden bearish divergence showed up.
Lets see how it will develop
Lets see how it will develop
Comment:
Anyone wondering what is the count for the previous bear market correction in my opinion:
Comment:
A lot of people think now we got inverse H&S breakout! I don't believe so.
It seems 4 hr hidden bearish divergence still in develop but the price still showing stability after 11,100 touched!
We think its not possible now to go below 10,000 again and this bearish divergence only can result in sideways moving for few days (3 to 5 days) with possible retest around 10500 area. Lets watch it!
It seems 4 hr hidden bearish divergence still in develop but the price still showing stability after 11,100 touched!
We think its not possible now to go below 10,000 again and this bearish divergence only can result in sideways moving for few days (3 to 5 days) with possible retest around 10500 area. Lets watch it!
Comment:
$500 dump!!! Less than a hr ago we said that we don't believe in this false H&S breakout! this could be confirmation for start of sideways move with possible retest of 10500 and/or 10000! why not?!
Comment:
That was impressive call!
Price has retraced to 10300 it should stand as strong support, 10000 still possible but it might not happen. Next few 4hrs candle reversal are needed... Watching!
Price has retraced to 10300 it should stand as strong support, 10000 still possible but it might not happen. Next few 4hrs candle reversal are needed... Watching!
Comment:
This retrace printed small Hidden Bullish Divergence on 4HR.
Although it may still in develop but it worth sharing!.. If this play out, This could take the price back to 10800 level in the next 4hr candles, this will remains valid as long as price stays above 10100
Although it may still in develop but it worth sharing!.. If this play out, This could take the price back to 10800 level in the next 4hr candles, this will remains valid as long as price stays above 10100
Comment:
Some people are confused about divergences, so i like to explain it briefly for you:
1-classic:
classic bullish div .... price= lower low / indicator= higher low ( Draw bottoms not tops )
www.forextips.com/wp...llish-divergence.png
classic bearish div .... price= higher high / indicator= lower high ( Draw tops not bottoms )
www.forextips.com/wp...arish-divergence.png
2-hidden:
hidden bullish div .... price= higher low / indicator= lower low ( Draw bottoms not tops )
www.forextips.com/wp...llish-divergence.png
hidden bearish div .... price= lower high / indicator= higher high ( Draw tops not bottoms )
www.forextips.com/wp...arish-divergence.png
1-classic:
classic bullish div .... price= lower low / indicator= higher low ( Draw bottoms not tops )
www.forextips.com/wp...llish-divergence.png
classic bearish div .... price= higher high / indicator= lower high ( Draw tops not bottoms )
www.forextips.com/wp...arish-divergence.png
2-hidden:
hidden bullish div .... price= higher low / indicator= lower low ( Draw bottoms not tops )
www.forextips.com/wp...llish-divergence.png
hidden bearish div .... price= lower high / indicator= higher high ( Draw tops not bottoms )
www.forextips.com/wp...arish-divergence.png
Comment:
Price bounced to almost 10700 we thought it will reach 10800 but makes no difference and now you can see the price forming H&S pattern which i believe will trick again traders to trade it and will result in fakeout again.
We said small Hidden Bullish Divergence on 4HR was in develop and now its looks like completed.Expecting reversal.
We said small Hidden Bullish Divergence on 4HR was in develop and now its looks like completed.Expecting reversal.
Comment:
Here is a clear picture for H&S for who didn't got what i mean in last update. showing neckline breakdown. Volume doesn't confirm H&S, Now this is clear evidence why understanding coin behavior is so important not just indicators or TA.
Still early to say we got the reversal but its look so. Although we are doing good expecting short term/daily movements in low time frames but i consider it so risky as playing with fire and we are only focused with bigger picture. We only sharing with you updates for whats going on for learning purposes and i don't have to be right every-time. Price could still go lower! BTW
Remember- Hidden bull div will remain valid as long as price stays above 10100
Still early to say we got the reversal but its look so. Although we are doing good expecting short term/daily movements in low time frames but i consider it so risky as playing with fire and we are only focused with bigger picture. We only sharing with you updates for whats going on for learning purposes and i don't have to be right every-time. Price could still go lower! BTW
Remember- Hidden bull div will remain valid as long as price stays above 10100
Comment:
21k/23k targets explained! I think its still early to share this and i was waiting for at least breaking out of bull-flag but some people are asking why i got this targets, here are my reasons:
1-Waves:
-Lets agree since btc bottomed 3100 we started a bull run and from coin behavior view this is impulse waves NOT! a massive B correction like others calling.
-Since 3100 btc started major wave 5, its used to terminate beyond wave 3 top and its slightly longer than wave 3 (Black Dashed Arrow) showing exact same length of major wave 3.
-Major wave 4 bottomed at 3100 is higher than major wave 2 and we can notice the behavior of current impulse waves are jumping higher than the previous bull run. this could be more confirmation for my targets area.
2-The blue channel:
The price has been ranging in this channel before starting previous bull run and after the price went parabolic and started to correct, the same channel resistance and support played as ranging area for sometime before breaking its support and start heading down.
So i am expecting same channel to play as strong resistance and support during the current bull run. I am not calling the moon.
3-Trend-Based Fib Extension:
If we draw fib ext. for the extended wave 3 in purple count, from wave (2) green 5000 to wave (3) green 14000 back to wave (4) green 9000
We will get 3 important ext level which are going to be strong resistances.
0.618 at 14k / 1.414 at 21k / 1.618 at 23k
That's it!!.............
1-Waves:
-Lets agree since btc bottomed 3100 we started a bull run and from coin behavior view this is impulse waves NOT! a massive B correction like others calling.
-Since 3100 btc started major wave 5, its used to terminate beyond wave 3 top and its slightly longer than wave 3 (Black Dashed Arrow) showing exact same length of major wave 3.
-Major wave 4 bottomed at 3100 is higher than major wave 2 and we can notice the behavior of current impulse waves are jumping higher than the previous bull run. this could be more confirmation for my targets area.
2-The blue channel:
The price has been ranging in this channel before starting previous bull run and after the price went parabolic and started to correct, the same channel resistance and support played as ranging area for sometime before breaking its support and start heading down.
So i am expecting same channel to play as strong resistance and support during the current bull run. I am not calling the moon.
3-Trend-Based Fib Extension:
If we draw fib ext. for the extended wave 3 in purple count, from wave (2) green 5000 to wave (3) green 14000 back to wave (4) green 9000
We will get 3 important ext level which are going to be strong resistances.
0.618 at 14k / 1.414 at 21k / 1.618 at 23k
That's it!!.............
Comment:
10000 tested as it was possible, we got failling wedge
Comment:
We still consider this down move as H&S fakeout, unless retrace reach its target at 9450
Hidden bull div is more clear now, failing wedge in play.
Hidden bull div is more clear now, failing wedge in play.
Comment:
It seems some people get our analysis wrong way! we don't try to make trades or give exact price for any move either up or down and anyone tells you he can do that, he will be cheating.
We will keep saying that our aim to analysis the move and what we could expect next, that's why we always say price level and area which could range few hundred up or down especially during bull run in which a single move could be in thousands!!! Right?!
We said in last updates 10k level retest still possible and price could still go lower and it did, in our view the failing wedge seems comes to an end and hidden bullish divergence still active. we don't believe price will retrace to H&S target at 9450.
The price is sitting once again at the Blue-trend line on daily chart which is very important now to reverse from or break it and we will turn bearish in this case as we said before!
We will keep saying that our aim to analysis the move and what we could expect next, that's why we always say price level and area which could range few hundred up or down especially during bull run in which a single move could be in thousands!!! Right?!
We said in last updates 10k level retest still possible and price could still go lower and it did, in our view the failing wedge seems comes to an end and hidden bullish divergence still active. we don't believe price will retrace to H&S target at 9450.
The price is sitting once again at the Blue-trend line on daily chart which is very important now to reverse from or break it and we will turn bearish in this case as we said before!
Comment:
Price stuck within a descending channel, which could also potentially be a bullish flag rather than failing wedge.
Comment:
15m chart showing:
Hidden bullish div, followed by classic bullish div before reversal in the bullish channel flag
Hidden bullish div, followed by classic bullish div before reversal in the bullish channel flag
Comment:
On 15m chart: Price bounced from channel support to its resistance at 9900 and failed to breakout, price dump again and create a lower low but it doesn't change anything.
Hidden bullish div still active and This last candle printed classic bullish div not only in 15m chart but also in 4hr chart its clear now. We can expect break-out in the next test up. Daily candle close is very important to be above 9900 level.
Hidden bullish div still active and This last candle printed classic bullish div not only in 15m chart but also in 4hr chart its clear now. We can expect break-out in the next test up. Daily candle close is very important to be above 9900 level.
Comment:
1H chart showing same thing hidden bull div followed by classic bull div and price retraced to 0.786 fibonacci level of current move from 9100.
Comment:
We have been in same similar situation 1 week ago when btc dipped to 9k area and we expected reversal and price bounced above 11k area.
We still bullish for the same reasons stated in this post as well as updates, if anyone see price will continue to dip further for a reason, please share it in comments.
We still bullish for the same reasons stated in this post as well as updates, if anyone see price will continue to dip further for a reason, please share it in comments.
Comment:
Breakout INCOMING!!!!
Comment:
That was a nice breakout of the descending channel, divergences did very well, Daily Blue-trend line stood intact! we got daily close above it.
Now we have to watch and give the market time it needs to develop, 11k area should be next short term resistance to take over. price could reach it very quick and then ranging for a few days before clear the road to 12k area.
Remember that once we get daily close above 12k that will led to a breakout of the massive BULL-FLAG ( in purple ).
There are a small chance to retest 9800/9700 before going up but i am not sure about it. Don't forget to press like button if you like what i am sharing and to receive updates.
Remember that once we get daily close above 12k that will led to a breakout of the massive BULL-FLAG ( in purple ).
There are a small chance to retest 9800/9700 before going up but i am not sure about it. Don't forget to press like button if you like what i am sharing and to receive updates.
Comment:
Small chance become true and price retest 9800, price could go up from here but the chance to retest 9700 or lower become higher.
If we look to 1hr chart we can see price moving down in a channel, another hidden bullish div in play and will be confirmed if price dipped lower. I see 2 scenario lets watch which one is going to play out!
If we look to 1hr chart we can see price moving down in a channel, another hidden bullish div in play and will be confirmed if price dipped lower. I see 2 scenario lets watch which one is going to play out!
Comment:
That was nice again, as we said chances are higher to retest 9700 or lower.
Price choose scenario 2.
Lets watch for real move we have been waiting for, that will take price back above 11k in the next few 4hr candle(s)
Price choose scenario 2.
Lets watch for real move we have been waiting for, that will take price back above 11k in the next few 4hr candle(s)
Comment:
Price successfully broken out of the small descending channel and consolidating, if we look to RSI we got bullish hidden divergence completed as we did expect.
11K move INCOMING!!!!!!!!
...........................................................
11K move INCOMING!!!!!!!!
...........................................................
Comment:
1H chart: if we zoom out a bit, price struggling to break above RED resistance line but once it does, price will move fast targeting the resistance area around 11400.
Comment:
It still seems some people still does not understand that we are only trying to analysis the price move and what to expect next on SHORT term and we are not making predictions and this expectation does not have to be right every time, i am not a predictor and i said that before if there anyone said he can then he is cheating!
Again, We are focused on the big picture no matter which path price is going to take, especially on the short term and lower time frames, we are not trying to make any short or daily trades, we consider it as playing with fire and its always tricky but we still share either it will happen or not!.... and we mentioned that we got early entries.
So i really wonder some comments because of only ONE! wrong short term expectation that we kept saying it could happen, ignoring our full view as well as our bearish condition which is first line in this post.
At least there is no daily close below blue or green line yet ON DAILY CHART because some people are mixing it with REST charts and some other people mixing to read which line i draw as resistance/support OR divergences which is really funny!!!
I didn't care to emphasis that because i thought most of people here are professional and will get it right or beginners and will understand what i mean once they read. but they don't read description they only look to my chart and get it wrong then start commenting!!!!!!!!
BTW, 7 1day / 2d bullish reasons in the beginning of this post are still valid. you can read it! Be patience !!! Give the market TIME.
In last update we said price was struggling to break above RED resistance line, it did fake out and dumped to new short term lower low
We know that lower time frames always tricky and complex that's why we trust daily reasons much more NO MATTER WHICH PATH PRICE IS GOING TO TAKE and we look to lower times frames to find clues supporting our main view. we kept saying we could be wrong in short term moves always big challenge. that's why some people see i am always bullish without reading and understand first my full view!!
4H chart hidden bullish div followed by classic bullish div, we seen that before on 15m chart resulted in price jump, so when the same thing repeated on higher time frame, I am still waiting for 11k move OR daily close below Blue and Green line DAILY CHART
Again, We are focused on the big picture no matter which path price is going to take, especially on the short term and lower time frames, we are not trying to make any short or daily trades, we consider it as playing with fire and its always tricky but we still share either it will happen or not!.... and we mentioned that we got early entries.
So i really wonder some comments because of only ONE! wrong short term expectation that we kept saying it could happen, ignoring our full view as well as our bearish condition which is first line in this post.
At least there is no daily close below blue or green line yet ON DAILY CHART because some people are mixing it with REST charts and some other people mixing to read which line i draw as resistance/support OR divergences which is really funny!!!
I didn't care to emphasis that because i thought most of people here are professional and will get it right or beginners and will understand what i mean once they read. but they don't read description they only look to my chart and get it wrong then start commenting!!!!!!!!
BTW, 7 1day / 2d bullish reasons in the beginning of this post are still valid. you can read it! Be patience !!! Give the market TIME.
In last update we said price was struggling to break above RED resistance line, it did fake out and dumped to new short term lower low
We know that lower time frames always tricky and complex that's why we trust daily reasons much more NO MATTER WHICH PATH PRICE IS GOING TO TAKE and we look to lower times frames to find clues supporting our main view. we kept saying we could be wrong in short term moves always big challenge. that's why some people see i am always bullish without reading and understand first my full view!!
4H chart hidden bullish div followed by classic bullish div, we seen that before on 15m chart resulted in price jump, so when the same thing repeated on higher time frame, I am still waiting for 11k move OR daily close below Blue and Green line DAILY CHART
Comment:
Comment:
-Whenever we mention DAILY CHART, It means the main chart in the top of this post.
-Lower time frame divergences = bounce coming ( doesn't have to be lowest price )
-Higher time frame divergences = reversal coming ( trend reversal )
-Read right before you comment to understand which lines are support/resistance and which lines are divergences.
-Lower time frame divergences = bounce coming ( doesn't have to be lowest price )
-Higher time frame divergences = reversal coming ( trend reversal )
-Read right before you comment to understand which lines are support/resistance and which lines are divergences.
Comment:
1d chart: price once again touching Green support line, if we adjust Blue trend line to the same point they have met together it will remain valid. that's why our bearish condition is not only 1d but also 2d candle close below both lines for confirmation of the end of this bull run and to turn bearish. ( BTC in The red zone )
Comment:
Breakout Is Imminent!!!
Comment:
-2D hidden bullish divergence which is more TRUSTED ( picture below )
This was one of 7 reasons to remain bullish stated at the top of this post. if we zoom out 2d chart, we can see how 2017 blue uptrend channel support/resistance lines still playing very well.
Look at the price action at 8000-9000 area where channel support was a strong resistance till price successfully broke above it.....it shoot up breaching the channel resistance line but failed to get 2d candle close above it ... only one single 2d candle close above it out of 8 before price start heading down again and WILL NOW PREVIOUS RESISTANCE WORKING AS SUPPORT?!!!
This was one of 7 reasons to remain bullish stated at the top of this post. if we zoom out 2d chart, we can see how 2017 blue uptrend channel support/resistance lines still playing very well.
Look at the price action at 8000-9000 area where channel support was a strong resistance till price successfully broke above it.....it shoot up breaching the channel resistance line but failed to get 2d candle close above it ... only one single 2d candle close above it out of 8 before price start heading down again and WILL NOW PREVIOUS RESISTANCE WORKING AS SUPPORT?!!!
Comment:
Few days ago, we said .. 4H chart hidden bullish div followed by classic bullish div, we seen that before on 15m chart resulted in price jump, so when the same thing repeated on higher time frame, I am still waiting for 11k move OR daily close below Blue and Green line DAILY CHART ... price should move fast once breaking out RED resistance line. we also got a possible double bottom
Trade active
Comment:
Congratulations... BTC is almost out of red zone! Reminder: Last time could be a period of time! not a few moments,hours or days, how come some people think because i said that price should have to shoot up to the roof without looking back during a consolidation/correction range?!!! but yes we still believe price was below 10k for the last time and price didn't go lower than the day this post published yet.
Whenever i get hating comments, whenever fear is high, whenever bearish guys are certain they are right. The market will respond once AGAIN! Because now i started to realize it seems that i am the most bullish bias on TV recently, I think this could be the reason why! but we are only share our view without any profitable reasons! following the trend till it change on high time frames based on FACTs and TA not hope!
==============================
Previously, we posted:
(( Few days ago, we said .. 4H chart hidden bullish div followed by classic bullish div, we seen that before on 15m chart resulted in price jump, so when the same thing repeated on higher time frame, I am still waiting for 11k move OR daily close below Blue and Green line DAILY CHART ... price should move fast once breaking out RED resistance line. we also got a possible double bottom. )) =>> HUGE LIKE:)
- 7 reasons at the top of this post on daily and 2d charts are still active. READ IT! - BE PATIENCE! - GIVE MARKET TIME!.
I think this pictures are speaking of it self and are enough to shut up those kiddies! This was a good lesson to learn how to be patience and understand the time market takes to move based on which timeframes that were used.
Whenever i get hating comments, whenever fear is high, whenever bearish guys are certain they are right. The market will respond once AGAIN! Because now i started to realize it seems that i am the most bullish bias on TV recently, I think this could be the reason why! but we are only share our view without any profitable reasons! following the trend till it change on high time frames based on FACTs and TA not hope!
==============================
Previously, we posted:
(( Few days ago, we said .. 4H chart hidden bullish div followed by classic bullish div, we seen that before on 15m chart resulted in price jump, so when the same thing repeated on higher time frame, I am still waiting for 11k move OR daily close below Blue and Green line DAILY CHART ... price should move fast once breaking out RED resistance line. we also got a possible double bottom. )) =>> HUGE LIKE:)
- 7 reasons at the top of this post on daily and 2d charts are still active. READ IT! - BE PATIENCE! - GIVE MARKET TIME!.
Trade active:
BTC is out of RED zone .. $23,000 Could be a new ATH! -- (click to read details) follow idea to get updates.
Trade active:
What a breakout! .. very nice follow thru 4H,1D candles. 4H divergences pattern at 9300 has led to strong bounce as expected .. Blue+Green lines stood intact once again!
-Breakout of dotted RED line which is forming Failing Wedge with lower line of bull-flag at 10050
We have been waiting for breakout of RED line and we got it after price double bottom.
This short term recovery is a clear confirmation that price still in a bull run .. indicators did cool off and has started to point up again, we also got daily MACD cross up.
We are expecting to see 11500-12000 range in next few days, if the price able to get candle close above 12k on daily basis that will trigger huge bull flag continuation pattern and price could head straight to 0.618 fib ext. at 14500-15000 range.
Good for who did follow! Thanks for people respect our view even if they disagree, Haters .. there is no wonder they all vanished lol
-Breakout of dotted RED line which is forming Failing Wedge with lower line of bull-flag at 10050
We have been waiting for breakout of RED line and we got it after price double bottom.
This short term recovery is a clear confirmation that price still in a bull run .. indicators did cool off and has started to point up again, we also got daily MACD cross up.
We are expecting to see 11500-12000 range in next few days, if the price able to get candle close above 12k on daily basis that will trigger huge bull flag continuation pattern and price could head straight to 0.618 fib ext. at 14500-15000 range.
Trade active:
Previously we said: ((I am still waiting for 11k move OR daily close below Blue and Green line DAILY CHART))
((To confirm our view price should take over 11k,12k in the next days and final confirmation will be after breaking out purple line of bull-flag))
11k move is DONE ..... Last update still in play .... Strong move could be coming soon .. We will keep a close eye on 12k range.
((To confirm our view price should take over 11k,12k in the next days and final confirmation will be after breaking out purple line of bull-flag))
11k move is DONE ..... Last update still in play .... Strong move could be coming soon .. We will keep a close eye on 12k range.
Trade active:
11500 ... DONE!
That was impressive and so fast 2 hours later :D
That was impressive and so fast 2 hours later :D
Trade active:
2 days ago, we mentioned:
Comment:
We are expecting to see 11500-12000 range in next few days, if the price able to get candle close above 12k on daily basis that will trigger huge bull flag continuation pattern and price could head straight to 0.618 fib ext. at 14500-15000 range.
Now its time to take over 12k , price could make strong move and fly.. some people think price should get significant retrace at this resistance but btc used to surprise most of people ... bull flag breakout incoming as well as 2017 uptrend resistance on 2d chart
Now its time to take over 12k , price could make strong move and fly.. some people think price should get significant retrace at this resistance but btc used to surprise most of people ... bull flag breakout incoming as well as 2017 uptrend resistance on 2d chart
Comment:
Trade active:
Wow this is huge again guys, AS WE EXPECTED!!!!!!
What if price break 12k with daily candle +1000/+2000 like there is no resistance in this area!!!!!! I will be watching for it to be honest
I was in discussion with someone yesterday and that's what i exactly said to him!
12k ....... DONE! -- Strong Move ....... DONE! -- Bull Flag Breakout .... DONE!
price could head straight to 0.618 fib ext. at 14500-15000 range(IN PLAY :D)
What if price break 12k with daily candle +1000/+2000 like there is no resistance in this area!!!!!! I will be watching for it to be honest
I was in discussion with someone yesterday and that's what i exactly said to him!
12k ....... DONE! -- Strong Move ....... DONE! -- Bull Flag Breakout .... DONE!
price could head straight to 0.618 fib ext. at 14500-15000 range(IN PLAY :D)
Trade active:
Will BTC take over this stubborn resistance this time! ( click to read details )
Trade active:
Failing wedge + 4H hidden bullish divergence .... this could be it guys, wait for 1d,2d candle close
Comment:
1H chart showing same thing, I will never look to 1H,4H chart again if this fail.......!
Trade active:
Divergence did well so far and breakout could be incoming any time, 12H chart Ichimoku is very interesting ... We just had a bullish kumo cloud breakout, we have a bullish kumo cloud twist, and tenkan-sen crossed the kijun-sen, tenkan line holding price nice and all signs look bullish.
Time to take over: 12k ... bull flag .... 2d chart 2017 uptrend stubborn resistance.
Price could head straight to 0.618 fib ext. at 14500-15000 range(IN PLAY)
Time to take over: 12k ... bull flag .... 2d chart 2017 uptrend stubborn resistance.
Price could head straight to 0.618 fib ext. at 14500-15000 range(IN PLAY)
Trade active:
BTC: 12H Ichimoku showing interesting bullish signs! ( click to read details )
Trade active:
1H,4H chart did not fail us .. divergence did very well .. price broke out failing wedge and now we got the re-test! .. we got 2d MACD cross completed ... btc entering crazy mode and a huge move could be coming!
Comment:
Trade active:
We showed how we had a strong bullish reasons 2 ideas 2 times below 9500 on daily chart and we got the price back up to 12k ......... 2017 uptrend channel stubborn resistance on 2d chart which it looks like price will take over it this time finally! ......... 12H Ichimoku gave us a more supportive bullish signs ......... Lower time frames screaming bullish! .... Bull-flag breakout could be triggered at any moment!
4H chart: we saw failing wedge and hidden bullish divergence which both did very well and we got the breakout followed by the retest ... RSI got 4 times lower low while price 4 times higher high which looks like this coming to an end very soon .... SYMMETRICAL TRIANGLE has been formed and its imminent breakout with targets around 10100/13200 ... we say 80% UP on this one.
4H chart: we saw failing wedge and hidden bullish divergence which both did very well and we got the breakout followed by the retest ... RSI got 4 times lower low while price 4 times higher high which looks like this coming to an end very soon .... SYMMETRICAL TRIANGLE has been formed and its imminent breakout with targets around 10100/13200 ... we say 80% UP on this one.
Comment:
This could be the last idea to share with you guys!......
Comment:
Check above idea, click on it to find out why?!
Trade active:
Thanks again guys for this massive support .. excuse my language, English not the first!. Its just me .. Sometimes using (We) because (I) always heavy to use all the time!
I was distracted writing this last idea and miss described couple of things that would like to fix for transparency ....
1st:
RSI got 4 times lower low while price 4 times higher *low
Not
RSI got 4 times lower low while price 4 times higher (high)
I think we won't get RSI 5th time lower low
2nd:
SYMMETRICAL TRIANGLE has been formed and its imminent breakout with targets around 10100/13200 ... we say 80% UP on this one.
This could be a bullish pennant rather than sym triangle .. we know both of them are identical but what distinguish pennant is considered a short term pattern that can form in days depend on which time frame used .. sym triangle takes longer ... 2nd thing is the flagpole , which is not present in the formation of the sym triangle. look at the following picture:
tutorials.topstockre...nnantSampleImage.png
This will change our target to 15k level which match with our previous target we mentioned many times before:
Price could head straight to 0.618 fib ext. at 14500-15000 range(IN PLAY)
I will be so surprised if the price head lower from here! good luck to everyone.
I was distracted writing this last idea and miss described couple of things that would like to fix for transparency ....
1st:
RSI got 4 times lower low while price 4 times higher *low
Not
RSI got 4 times lower low while price 4 times higher (high)
I think we won't get RSI 5th time lower low
2nd:
SYMMETRICAL TRIANGLE has been formed and its imminent breakout with targets around 10100/13200 ... we say 80% UP on this one.
This could be a bullish pennant rather than sym triangle .. we know both of them are identical but what distinguish pennant is considered a short term pattern that can form in days depend on which time frame used .. sym triangle takes longer ... 2nd thing is the flagpole , which is not present in the formation of the sym triangle. look at the following picture:
tutorials.topstockre...nnantSampleImage.png
This will change our target to 15k level which match with our previous target we mentioned many times before:
Price could head straight to 0.618 fib ext. at 14500-15000 range(IN PLAY)
Comment:
We all know 4H chart price still in develop and we are trying to spot a pattern that still in formation which could be changed
This could be a bull-flag rather than pennant .. with the same targets .
Pennant invalidated .. the breakdown is not confirmed .. I don't advise anyone to trade it ... this could be a bear trap ... better to wait and chill for more price development for better view ... I think 10900-800 is strong support that price should not break below with 4H candle close for trend continuation.
We didn't expect RSI will go more lower low but hidden bull div could still be in development OR a stronger one could be formed if the RSI and price would like to retrace more ... so we strongly believe price will not crash like others saying .. look at the picture below.
Lower 4H time frames could be tricky that's why we said before that we focus on higher timeframes .. we look to lower timeframe to spot momentum and clues.
We still have strong reasons in play to resume bullish uptrend on daily chart and lets not forget 2d chart MACD crossover we just got last 2 days as well as 2d hidden bullish divergence that effect still active. Lets watch how this will develop!
P.S check the below idea for detailed bullish reasons on higher timeframes which still ACTIVE.
BTC is out of RED zone .. $23,000 Could be a new ATH!
This could be a bull-flag rather than pennant .. with the same targets .
Pennant invalidated .. the breakdown is not confirmed .. I don't advise anyone to trade it ... this could be a bear trap ... better to wait and chill for more price development for better view ... I think 10900-800 is strong support that price should not break below with 4H candle close for trend continuation.
We didn't expect RSI will go more lower low but hidden bull div could still be in development OR a stronger one could be formed if the RSI and price would like to retrace more ... so we strongly believe price will not crash like others saying .. look at the picture below.
Lower 4H time frames could be tricky that's why we said before that we focus on higher timeframes .. we look to lower timeframe to spot momentum and clues.
We still have strong reasons in play to resume bullish uptrend on daily chart and lets not forget 2d chart MACD crossover we just got last 2 days as well as 2d hidden bullish divergence that effect still active. Lets watch how this will develop!
BTC is out of RED zone .. $23,000 Could be a new ATH!
Comment:
This is my current view for this idea:
I can't tell you if the price will drop more but there are signs to resume uptrend!
We have seen before on 15m chart when hidden bull div followed by classic bull div that led to a bounce .... later when same pattern appeared on 4H chart we expected that will led to stronger bounce below 9500 and price jumped to 12000 ...
Now we can see same pattern in develop on 4H chart as well as 1H chart .. have a look on the following pictures:
P.S. If you click play the following idea:
BTC: 12H Ichimoku showing interesting bullish signs!
It looks like price did retest the kumo cloud after we got its breakout. Is it the time to go up?!!
I can't tell you if the price will drop more but there are signs to resume uptrend!
We have seen before on 15m chart when hidden bull div followed by classic bull div that led to a bounce .... later when same pattern appeared on 4H chart we expected that will led to stronger bounce below 9500 and price jumped to 12000 ...
Now we can see same pattern in develop on 4H chart as well as 1H chart .. have a look on the following pictures:
P.S. If you click play the following idea:
BTC: 12H Ichimoku showing interesting bullish signs!
It looks like price did retest the kumo cloud after we got its breakout. Is it the time to go up?!!
Comment:
Not only 12H Ichimoku but also 12H TEMA ... This is not bullish trend EMAs ?!! Ok..maybe I am only bullish bias..............
Comment:
Current 12H Ichimoku showing the retest of kumo cloud after it broke-out!........... I could be wrong!
Comment:
This is the 3rd high peak near that resistance .. 26 jun, 10 jul and 6 august
First 2 times price has dropped 4200 within 6 days in each time
But this time, it has been 6 days since high peak and price still moving sideways near that resistance.
Isn't that Interesting?! .. This are my own views and none of them stand as financial advise. Trade at your own risk as everyone know!
First 2 times price has dropped 4200 within 6 days in each time
But this time, it has been 6 days since high peak and price still moving sideways near that resistance.
Isn't that Interesting?! .. This are my own views and none of them stand as financial advise. Trade at your own risk as everyone know!
Comment:
3 days ago we mentioned:
-((Pennant invalidated .. the breakdown is not confirmed .. I don't advise anyone to trade it ... this could be a bear trap ... better to wait and chill for more price development for better view ... I think 10900-800 is strong support that price should not break below with 4H candle close for trend continuation. hidden bull div could still in development OR a stronger one could be formed if the RSI and price would like to retrace more))
-So it looks like this scenario playing well so far, 10800 was a previous resistance and price retested it (horizontal purple line) .. price still moving in a bull-flag pattern and its not yet invalidated
-Another thing caught my eyes that i would like to share:
1H RSI ... this is the first time it go below 17 RSI level since price was at 5000 ... more so, this could result in huge 1h hidden bull div with previous low at 9100 as well as a giant hidden bull div with major low at 5000
-1D Ichimoku .. Showing bullish signs, We just had a bullish kumo cloud breakout, tenkan-sen crossed the kijun-sen and a bullish kumo cloud twist could be incoming?! ... A retest of daily kumo was possible that's why we also mentioned before price should not go below 10800 support area for trend continuation. More so, we had a positive daily MACD cross after long correction! lets watch how this will develop and remember anything could happen .. we only share our view that doesn't have to be correct/happen .. just keep that in mind!
-((Pennant invalidated .. the breakdown is not confirmed .. I don't advise anyone to trade it ... this could be a bear trap ... better to wait and chill for more price development for better view ... I think 10900-800 is strong support that price should not break below with 4H candle close for trend continuation. hidden bull div could still in development OR a stronger one could be formed if the RSI and price would like to retrace more))
-So it looks like this scenario playing well so far, 10800 was a previous resistance and price retested it (horizontal purple line) .. price still moving in a bull-flag pattern and its not yet invalidated
-Another thing caught my eyes that i would like to share:
1H RSI ... this is the first time it go below 17 RSI level since price was at 5000 ... more so, this could result in huge 1h hidden bull div with previous low at 9100 as well as a giant hidden bull div with major low at 5000
-1D Ichimoku .. Showing bullish signs, We just had a bullish kumo cloud breakout, tenkan-sen crossed the kijun-sen and a bullish kumo cloud twist could be incoming?! ... A retest of daily kumo was possible that's why we also mentioned before price should not go below 10800 support area for trend continuation. More so, we had a positive daily MACD cross after long correction! lets watch how this will develop and remember anything could happen .. we only share our view that doesn't have to be correct/happen .. just keep that in mind!
Comment:
Price has retraced to 10400 !! What a move! ... really? a thousand move during an uptrend that is jumping in thousands something that is normal and we are not trying to predict exact price because simply there is no one can.
We expected 10800 support (area) to hold for reversal and trend continuation because our aim to focus on the trend and not get lost due to market manipulation! .. exchanges/whales, doing very well moving the price on short term for their favor .. maybe liquidating heavy long/short before price make a big move to the other side ... I doubt THEY CAN CHANGE THE TREND DIRECTION!
Support/resistance doesn't mean the highest/lowest peak the price will reach ... price still could go below/above for a short period of time.
Current 1H RSI is back above 17 level forming higher lows while price form lower low ... 2 classic bull div has printed on 1H chart after hidden bull div with previous low at 9100 which is also clear on 4H chart ... price also retraced to 0.618 fib ... this maybe the div pattern we were expecting last time?! ... I would like to see explosion in next days if this is the reversal point that we have been waiting for .... if the price will drop further below 10k ... This time I will be out of the market.
We expected 10800 support (area) to hold for reversal and trend continuation because our aim to focus on the trend and not get lost due to market manipulation! .. exchanges/whales, doing very well moving the price on short term for their favor .. maybe liquidating heavy long/short before price make a big move to the other side ... I doubt THEY CAN CHANGE THE TREND DIRECTION!
Support/resistance doesn't mean the highest/lowest peak the price will reach ... price still could go below/above for a short period of time.
Current 1H RSI is back above 17 level forming higher lows while price form lower low ... 2 classic bull div has printed on 1H chart after hidden bull div with previous low at 9100 which is also clear on 4H chart ... price also retraced to 0.618 fib ... this maybe the div pattern we were expecting last time?! ... I would like to see explosion in next days if this is the reversal point that we have been waiting for .... if the price will drop further below 10k ... This time I will be out of the market.
Comment:
The breakdown of 10500 was a clear sign that price will drop more .. price didn't bounce at all .. but as a holder who has early entries, is it the right time to get out now?! did we just lost the uptrend?
I asked my self a question: Is n't there a trend manipulation?
our aim to focus on the trend and not get lost due to market manipulation! .. exchanges/whales, doing very well moving the price on short term for their favor .. maybe liquidating heavy long/short before price make a big move to the other side ... I doubt THEY CAN CHANGE THE TREND DIRECTION!
In the past I lost a lot of money taking short term trades even when its good ones .. In Crypto market its very hard and so slow but if i still prefer to trade it then i decided its better to do it the right way which is less stress avoiding market manipulation and only focus on the trend!
Trade could takes months but i saved my self a ton of stress and losses. even when I turn to be wrong or make mistakes on short term like everyone. i will still get out with a nice ROE.
I was watching a lot of channels/services following most of professional traders and i didn't see anyone who is able to predict btc moves correctly most of times in anywhere! at the end it was my own choices/decisions!
I was not a professional trader and i am still learning .. changing my strategy in a risky market was a good choice for me. more so, stick to it and be patient ... at the end I am still on huge ROE no matter when i deiced to be out of the market ... but the question, is it right time now?!! or this is a trend manipulation ...... or there is no uptrend and this is just corrective wave up?!
It really depends on how much risk i am willing to take! it differ from one to another considering i am not willing to lose my mind because of trading!
I am ready to take the risk and be certain about my exist ... as a holder i would be mad if the price fly after my exist and i will be fine with less ROE if that didn't happen ... I am not bullish bias ... I am only trend bias and i will stick to my strategy.
I would like to clarify that i hold a good a mount of BTC since 3500 and 5000 in private wallet .. I did apply the same strategy on my BITMEX account with 20% of my capital that i used half of it at 3300 (x25) margin .. I was so calm, brave and lucky to open a massive amount of contracts with high leverage and less than 200 point a way of my entry to be liquidated. i added 25% more at 4900 and later the rest 25% at 7800 and 9500. My early entry did very well to keep my liquidation price far enough. at the moment its 6300
It was not easy to be so calm or be so patient when you are in x25 leverge or to not sell at every higher peaks .. instead of that we added more contracts after every correction! The difference from 14k ROE to now is massive but we seen that 2 times before and we treat it as just numbers not real money to avoid getting emotionally while taking serious decision about the TREND!
Now i know some will think, how i will hold such amount of positions for long period of time while maintain PNL and fees which is also play role with liquidation price. There is a nice trick for how to open contracts as a market maker ( not at market price ) that way you will get a rebate, when PREDICTED FUNDING RATE calculated periodically which differ all time since i am considered as a market maker. for Ex. my PNL was more than +1.3 btc and now its -1.1 btc ... Sometimes you can take fees not just pay fees! .. Yes
My current plan is to be patient .. to focus on 12H..1D..2D time frames at the moment ..
I have 3 scenarios in mind:
--price will start to recover and reverse from 9500
--price will retest 9100
--price will resume to drop and 9100 will be broken with a few hundreds to stop out everyone! Maybe 8800
I will RISK my exist point to be below 8700
I asked my self a question: Is n't there a trend manipulation?
our aim to focus on the trend and not get lost due to market manipulation! .. exchanges/whales, doing very well moving the price on short term for their favor .. maybe liquidating heavy long/short before price make a big move to the other side ... I doubt THEY CAN CHANGE THE TREND DIRECTION!
In the past I lost a lot of money taking short term trades even when its good ones .. In Crypto market its very hard and so slow but if i still prefer to trade it then i decided its better to do it the right way which is less stress avoiding market manipulation and only focus on the trend!
Trade could takes months but i saved my self a ton of stress and losses. even when I turn to be wrong or make mistakes on short term like everyone. i will still get out with a nice ROE.
I was watching a lot of channels/services following most of professional traders and i didn't see anyone who is able to predict btc moves correctly most of times in anywhere! at the end it was my own choices/decisions!
I was not a professional trader and i am still learning .. changing my strategy in a risky market was a good choice for me. more so, stick to it and be patient ... at the end I am still on huge ROE no matter when i deiced to be out of the market ... but the question, is it right time now?!! or this is a trend manipulation ...... or there is no uptrend and this is just corrective wave up?!
It really depends on how much risk i am willing to take! it differ from one to another considering i am not willing to lose my mind because of trading!
I am ready to take the risk and be certain about my exist ... as a holder i would be mad if the price fly after my exist and i will be fine with less ROE if that didn't happen ... I am not bullish bias ... I am only trend bias and i will stick to my strategy.
I would like to clarify that i hold a good a mount of BTC since 3500 and 5000 in private wallet .. I did apply the same strategy on my BITMEX account with 20% of my capital that i used half of it at 3300 (x25) margin .. I was so calm, brave and lucky to open a massive amount of contracts with high leverage and less than 200 point a way of my entry to be liquidated. i added 25% more at 4900 and later the rest 25% at 7800 and 9500. My early entry did very well to keep my liquidation price far enough. at the moment its 6300
It was not easy to be so calm or be so patient when you are in x25 leverge or to not sell at every higher peaks .. instead of that we added more contracts after every correction! The difference from 14k ROE to now is massive but we seen that 2 times before and we treat it as just numbers not real money to avoid getting emotionally while taking serious decision about the TREND!
Now i know some will think, how i will hold such amount of positions for long period of time while maintain PNL and fees which is also play role with liquidation price. There is a nice trick for how to open contracts as a market maker ( not at market price ) that way you will get a rebate, when PREDICTED FUNDING RATE calculated periodically which differ all time since i am considered as a market maker. for Ex. my PNL was more than +1.3 btc and now its -1.1 btc ... Sometimes you can take fees not just pay fees! .. Yes
My current plan is to be patient .. to focus on 12H..1D..2D time frames at the moment ..
I have 3 scenarios in mind:
--price will start to recover and reverse from 9500
--price will retest 9100
--price will resume to drop and 9100 will be broken with a few hundreds to stop out everyone! Maybe 8800
I will RISK my exist point to be below 8700
Comment:
2D chart:
-once again price at 2017 channel support .. price could bounce from here but worst scenario is to fakeout the support the same way it did with the resistance.
-price touching 2d 50ema .. was it really needed before resuming up or will it hold the price? ..
-RSI 2D Hidden bull div confirmed with 2 previous lower low and price higher low at 5000 and 7500, so either 9100 double bottom was 3rd higher low or price will reach 8800 that will still show 3rd lower low on RSI.
-MACD also showing confirmed 2 lower low .. will we get the 3rd?
-bullish 2d Ichimoku and price still above cloud with strong support around 8800
1d chart:
-green support line on daily still holding and blue trend line could still be intact.
-the correction since 14k could be ABCDE instead of ABC
-price bounced from daily 100ema at 9500 .. I will start to doubt this is uptrend if price retrace to daily 200ema at 8200
-Ichimoku looking bad with bearish signs but this could be deceptive.
-RSI on daily matching what we said on 2d chart.
12H:
-Price retraced to 200ema and bounced from there .. this could explain the first scenario
-Ichimoku looking bad with bearish signs but this could be deceptive.
-RSI is near 30
4H:
-Either price will reverse or drop more there is still high possibility of this giant hidden bullish div on 4H with major low at 7500
1H:
-Its funny price started to jump since i started to write this post from 9500 to 10200 and its so interesting the way RSI showing how divergence did play out but i doubt this is just a bounce rather than a reverse.
>> This is my own view/plan and none of our ideas stand as financial advise OR buy/sell signals ... We are holder, we only trade the overall trend ... Trade at your own risk!!.... (you already know that)
-once again price at 2017 channel support .. price could bounce from here but worst scenario is to fakeout the support the same way it did with the resistance.
-price touching 2d 50ema .. was it really needed before resuming up or will it hold the price? ..
-RSI 2D Hidden bull div confirmed with 2 previous lower low and price higher low at 5000 and 7500, so either 9100 double bottom was 3rd higher low or price will reach 8800 that will still show 3rd lower low on RSI.
-MACD also showing confirmed 2 lower low .. will we get the 3rd?
-bullish 2d Ichimoku and price still above cloud with strong support around 8800
1d chart:
-green support line on daily still holding and blue trend line could still be intact.
-the correction since 14k could be ABCDE instead of ABC
-price bounced from daily 100ema at 9500 .. I will start to doubt this is uptrend if price retrace to daily 200ema at 8200
-Ichimoku looking bad with bearish signs but this could be deceptive.
-RSI on daily matching what we said on 2d chart.
12H:
-Price retraced to 200ema and bounced from there .. this could explain the first scenario
-Ichimoku looking bad with bearish signs but this could be deceptive.
-RSI is near 30
4H:
-Either price will reverse or drop more there is still high possibility of this giant hidden bullish div on 4H with major low at 7500
1H:
-Its funny price started to jump since i started to write this post from 9500 to 10200 and its so interesting the way RSI showing how divergence did play out but i doubt this is just a bounce rather than a reverse.
>> This is my own view/plan and none of our ideas stand as financial advise OR buy/sell signals ... We are holder, we only trade the overall trend ... Trade at your own risk!!.... (you already know that)
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BTC: Isn't The Trend is Your Friend, Until it Ends?!
Comment:
1H RSI is interesting:
We saw this hidden bearish div yesterday on 1H chart forming at 10400 and its looks like its confirmed now .. the classic bullish div on 1H led to a bounce from 9500 to 10400 but i still think there is a high possibility that it could be a bounce rather than a reverse ... there is a possible descending broadening wedge formation and price should break above 10250 (hourly 100ema) for breakout otherwise it will start head down which can led to another lower low on price and higher low on RSI which could be last leg down before break out the pattern .. 5th wave could be in play?! if price drop i will be watching price action area between 9200 and 8800 .. please remember ... we only share our own personal view as a holder who has early entries! For me it will be another chance to buy more.
We saw this hidden bearish div yesterday on 1H chart forming at 10400 and its looks like its confirmed now .. the classic bullish div on 1H led to a bounce from 9500 to 10400 but i still think there is a high possibility that it could be a bounce rather than a reverse ... there is a possible descending broadening wedge formation and price should break above 10250 (hourly 100ema) for breakout otherwise it will start head down which can led to another lower low on price and higher low on RSI which could be last leg down before break out the pattern .. 5th wave could be in play?! if price drop i will be watching price action area between 9200 and 8800 .. please remember ... we only share our own personal view as a holder who has early entries! For me it will be another chance to buy more.
Comment:
Comment:
4H RSI:
We had a massive hidden bearish div 13200 and 12200 tops that i totally ignored at that time although i noticed it but my bullish trend bias was challenged enough to not consider it ... now it really worth to mention since my all posts are about to learn either right/wrong .. I am glad that i am still learning while sharing!
But lets not ignore the massive hidden bullish div with previous major low at 7500 that could be in already ... either price will drop a little more or not ... that will even may led to a followed classic bull div on 4H chart and we saw that pattern before on different time frames that always led to a bounce or reverse.
We had a massive hidden bearish div 13200 and 12200 tops that i totally ignored at that time although i noticed it but my bullish trend bias was challenged enough to not consider it ... now it really worth to mention since my all posts are about to learn either right/wrong .. I am glad that i am still learning while sharing!
But lets not ignore the massive hidden bullish div with previous major low at 7500 that could be in already ... either price will drop a little more or not ... that will even may led to a followed classic bull div on 4H chart and we saw that pattern before on different time frames that always led to a bounce or reverse.
Comment:
1D: Cup & Handle
Price broke out 1h descending broadening wedge and it could be heading to next resistance at 10800 of this descending channel where also hourly 200ema located. If the price able to break out of this channel in the next few days ... cup and handle target is 15000.
If 1st scenario will play out as reversal that will mean ( 2d 50ema ... 1d 100ema ... 12h 200ema )>> test at 9500 was needed before resuming uptrend!
Price broke out 1h descending broadening wedge and it could be heading to next resistance at 10800 of this descending channel where also hourly 200ema located. If the price able to break out of this channel in the next few days ... cup and handle target is 15000.
If 1st scenario will play out as reversal that will mean ( 2d 50ema ... 1d 100ema ... 12h 200ema )>> test at 9500 was needed before resuming uptrend!
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Daily BTC Chart: Still Show all this bullish signs..?! ( click to read )
Comment:
1H chart: show a possible bullish reversal ascending triangle that still in formation ... RSI has printed a hidden bull div after a complex classic bull div.
This will be INVALIDATED below 10000 ... the breakout above 10500 (where hourly 200ema located) will confirm the pattern targeting 11300 ... it will be also a confirmation for the breakout of descending channel (the cup handle) ... cup&handle and bull flag will be confirmed only above 12k.
This will be INVALIDATED below 10000 ... the breakout above 10500 (where hourly 200ema located) will confirm the pattern targeting 11300 ... it will be also a confirmation for the breakout of descending channel (the cup handle) ... cup&handle and bull flag will be confirmed only above 12k.
Trade active
Comment:
Price broke out the reversal ascending triangle as well as descending channel as expected .. hourly 200ema (around 10600) should serve as support.
Before the breakout we spotted inverse H&S on 4H RSI that was interesting .. it looks will play out, breakout occurred at RSI 50 targeting RSI 85 ... 4H hidden bull div did very well.
Now i believe we got a clear reversal signs and 9500 was reversal point (1st scenario) 10500 area should not break below to keep it valid.
The cup handle breakout (descending channel) is initial confirmation for the pattern and final confirmation will be only after 11500-12000 .. targeting 15000 area.
I had spent enough time before deciding this a cup&handle or not .. I did consider the following:
-cup depth and left side was higher than right side with a slope angle
-daily close was a hammer candlestick.
-handle usually (not always) goes to 50% ... less retrace is better bullish sign ... similar examples with more than 50% on the following links:
After all, we still said its A POSSIBLE pattern to keep a close eye on and we will get more confirmation within next days!
d1p5pyutve46t9.cloud...rtist-BT-475x293.jpg
forextraininggroup.c...Trading-Strategy.png
forextraininggroup.c...th-Handle-Signal.png
www.tradingsetupsrev...ndHandle-355x396.png
Before the breakout we spotted inverse H&S on 4H RSI that was interesting .. it looks will play out, breakout occurred at RSI 50 targeting RSI 85 ... 4H hidden bull div did very well.
Now i believe we got a clear reversal signs and 9500 was reversal point (1st scenario) 10500 area should not break below to keep it valid.
I had spent enough time before deciding this a cup&handle or not .. I did consider the following:
-cup depth and left side was higher than right side with a slope angle
-daily close was a hammer candlestick.
-handle usually (not always) goes to 50% ... less retrace is better bullish sign ... similar examples with more than 50% on the following links:
After all, we still said its A POSSIBLE pattern to keep a close eye on and we will get more confirmation within next days!
d1p5pyutve46t9.cloud...rtist-BT-475x293.jpg
forextraininggroup.c...Trading-Strategy.png
forextraininggroup.c...th-Handle-Signal.png
www.tradingsetupsrev...ndHandle-355x396.png
Comment:
That was a perfect retrace to hourly 200ema as we mentioned around 10600 should serve as support. It did hold the price so far. A new hidden bull div on 1H has printed on RSI as well as a failing wedge bullish continuation pattern is in formation .. lets see if it will play out!
11300 remains short term target for the ascending triangle mentioned before.
11300 remains short term target for the ascending triangle mentioned before.
Comment:
4H chart: show price failed to stay above 200ema after breakout of descending channel and now it retraced to test it ... hidden bearish div as well as H&S did play well to dump price again which target has been reached ... lets watch whatever coming next will be so interesting!!
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(CME vs Bakkt) .. Why they said, Buy the Rumor and Sell.... ?! (click to read)
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BTC: Panic Sell OR Buy ... Next? -- ( click to read )
