BTC Oct 19 analysis | No changes | Still bearish | 5500
Good morning TV!
Thanks for watching my analysis and supporting my work with positive comments and constructive criticism.
In today's analysis I mentioned how one can open shorts and on which levels. I also talk about higher time frames being of utmost importance to give you an idea of the big picture. Thus far, the big picture has not changed. We are still overwhelmingly bearish.
Shoot questions and comments my way. Cheers!
Thanks for watching my analysis and supporting my work with positive comments and constructive criticism.
In today's analysis I mentioned how one can open shorts and on which levels. I also talk about higher time frames being of utmost importance to give you an idea of the big picture. Thus far, the big picture has not changed. We are still overwhelmingly bearish.
Shoot questions and comments my way. Cheers!
Comment:
30m chart clearly showing bulls are getting weaker and sell pressure near the $6575 s/r level is stepping up
Comment:
12h chart shows us that the ascending white trend line since late June was respect in our last drop. Now that prices are rolling over again look for the blue circle area to be respect- $6200-$6300 range. This pattern of higher lows since June (yellow circles) and the descending trend line since the $7.4k drop since beginning of September is also tightening prices and creating a symmetrical triangle. These have a 54% chance to break to the upside (Source: Bulkowski).
As mentioned in my video, prices vary from exchange to exchange but the structure the price is creating is essentially the same. You will have to coordinate the prices yourself. There are multiple short opportunities that may soon be playing out. Follow my video for more tips.
As mentioned in my video, prices vary from exchange to exchange but the structure the price is creating is essentially the same. You will have to coordinate the prices yourself. There are multiple short opportunities that may soon be playing out. Follow my video for more tips.
Comment:
Watch this $6572 support level carefully. Every time we've gone under it, there are some bulls pushing the price up but as you can see there is no significant follow through. As you can see we've double topped at $6609.8 (gold line). We've also broken under the rising trend line (black) we've had for the last few hours. If price does not break past the gold line and creates a low past the $6575 support then we've completed this small impulsive move and we may break that $6575 support.
Trade potential: This is your opportunity to open a short if you see $6575 be rejected as resistance and make your target $6466 and $6384 (supports below). Your SL should be $6647 (dashed blue).
Trade potential: This is your opportunity to open a short if you see $6575 be rejected as resistance and make your target $6466 and $6384 (supports below). Your SL should be $6647 (dashed blue).
Comment:
4h shows a strong bearish gravestone doji. I'd expect a retest of $6466 potentially
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