Crypto-Hamster

Crypto-Hamster Updated 

Now this ascending triangle is visible for everyone. If its structure holds, a long trade targets would be $22k and $23k. We might even try to see the ABCDE correction wave here (I personally don't like that there is no clear (3,3,3,3,3) structure). This triangle is against the other signals, which are bearish, but at least it is supported by the preceded trend....

Crypto-Hamster

⓵ Initial drop from ATH to 23.6% (support) ⓶ The second drop – from 23.6% to 38.2% and recovery back to 23.6% ⓷ Echo-pump above 23.6% (acts like support again) ⓸ The third drop – from 23.6% to 38.2% (no recovery) ⓹ 38.2% is broken, sideways between 38.2% and 50% ⓺ Capitulation to 61.8%, bottoming and slow recovery From the previous dynamics the bottom could be...

Crypto-Hamster

The huge triangle is still in play and a breakout is imminent. And generally, breakout in either way is possible here. But, IMO, the selling pressure is stronger, therefore, I would expect the drop and then the major support to be broken at some point. Not a financial advice.

Crypto-Hamster

Told you, guys 11 days ago. Didn't think that it will be that fast, of course.

Crypto-Hamster

Bear flag to 6350$ – the area of 100% Fibo retracement Grimacing face (Very hard to believe...) Not a financial advice.

Crypto-Hamster

Last week Parabolic SAR flashed a sell signal. Not a financial advice.

Crypto-Hamster

During the last 2 years weekly MACD bearish crossovers have been followed by a 35~50% drop in price. Another one have been printed recently. Not a financial advice.

Crypto-Hamster

At the global support line. What if it does not hold?

Crypto-Hamster

There is a red "9" (TD Sequential indicator) on 4h time frame. Recently it showed a nice performance. Could be a reversal point (at least, short-term). Not a financial advice.

Crypto-Hamster

A potential head and shoulders formation with the target at ~6100$. Considering the 9150$ as a level of the previous support/resistance zone, the right shoulder might top there. Not a financial advice.

Crypto-Hamster

Bearish view. During the recent growth there was a bull flag with the target around 10470$. Now, it could be a bear flag with the target around 7600$. This is also a multi-months support/resistance zone. Not a financial advice.

Crypto-Hamster

Simple moving averages on 20 and 50 weeks periods. Only twice in the whole history of bitcoin there were bearish crossovers. First time after that there was a drop by ~67% and the second time – by ~53%. The third crossover has been printed today. Sure, we should wait for the end of the week. Not a financial advice.

Crypto-Hamster

According to Bulkowski's data, Complex Head-and-Shoulders Top: – Overall performance rank (1 is best): 9 out of 53 – Upward price trend leading to the pattern – If the pattern shows an inner head-and-shoulders top, then trade it – Patterns with near horizontal necklines perform best – Patterns with an extended right shoulder perform marginally better Wait for...

Crypto-Hamster

10500$ resistance got rejected again. It looks like a potential (Red exclamation mark symbol) IH&S formation. the right shoulder could find support around 50 weeks SMA. According to Thomas Bulkowski, the IH&S target is ~74% of the pattern hight. In this case, it is around 13200$. Not a financial advice.

Crypto-Hamster

The target for this H&S is around 8970$ – very close to the 38.2% Fibonacci retracement level. Not a financial advice.

Crypto-Hamster

The rising wedge has been broken to the downside. The RSI support (also, an ascending wedge actually) has been broken too. In classic TA terms, one could expect a further drop, if the price tests the resistance (previous support) and gets rejected. Not a financial advice.

Crypto-Hamster

It's getting pretty tight again with the volume decline. Some volatility rise is coming. Not a financial advice.

Crypto-Hamster

Not a financial advice.