Critical price level here. Lot's of confluence here making current level highly resistive; but there are indications of more downside before consolidation/further upside (if we don't break our overall uptrend. If this breaks, likely stops are 21k & 14k imo. Elliot wave impulse extension levels shown in red. Stronger trend line support levels shown in yellow....
Possible bear disappointment here. Still a long while before candle close though. Some YOLO calls won't hurt too bad.
I like this pink channel, if it holds, then cool. If not, we'll live. Yellow dotted line dates back to BTC inception. We'd have to break up above that then back test it to see the top of this channel.
Just posting my chart. Actually sniffed out the short op on 1/26 with some basic trendlines/triangle pattern charting. Went short that night before bed, got stopped out at 00:45 on 1/27 with a small profit, but woke up to a hell of a drop, sucks! Whatever. Called out some short targets from other triangles/channels. All got hit. We ended up wicking down to the...
Just posting my chart. Actually sniffed out the short op on 1/26 with some basic trendlines/triangle pattern charting. Went short that night before bed, got stopped out at 00:45 on 1/27 with a small profit, but woke up to a hell of a drop, sucks! Whatever. Called out some short targets from other triangles/channels. All got hit. We ended up wicking down to the...
BTD Candle wick hit channel bottom. Rockets engaged from here
WKHS should hit the bottom of the established triangle around1/13
Ignore the shotty wave count. I just care about the channel.
Doji has formed. Momentum has stopped. Turnaround could be coming. This aligns with my hunch that SPY is staying in the downward channel it's been forming going into next week.
Down tomorrow near 360. Will reassess based on price action after that.
So we've bounced up above, and are potentially bouncing up off of this trend line that began in June or earlier. Right now I am seeing this as a bull signal. It will be interesting to see how much influence this trend has moving forward. I would expect a bounce up to the green channel shortly.
We popped up above the dashed green bull channel during trading today only to close below it. If we take a dip here I would target the yellow channel around 3400. If we bounce here it will probably be short lived but worth trading.