Hello lads, I hope you're ready for some action.
1) BTCUSD is forming an ascending triangle (very obvious on lower tfs) which it is set to breakout of tomorrow.
2) Anticipating a break from here up to the intraday S/R line ~9900 that coincides with the lower center band of the ~2 1/2 year pitchfork recently generated so I will be taking profit there,
3) then rebuying on the retrace down to the current bull trend line, coinciding with the 0.236 fib (intraday S/R) ~9300.
4) Target from there is all the way up to the current overall downtrend line ~11300 next week then another retrace back to the first S/R line ~9900.
From there if we break the downtrend line its party time.
1) BTCUSD is forming an ascending triangle (very obvious on lower tfs) which it is set to breakout of tomorrow.
2) Anticipating a break from here up to the intraday S/R line ~9900 that coincides with the lower center band of the ~2 1/2 year pitchfork recently generated so I will be taking profit there,
3) then rebuying on the retrace down to the current bull trend line, coinciding with the 0.236 fib (intraday S/R) ~9300.
4) Target from there is all the way up to the current overall downtrend line ~11300 next week then another retrace back to the first S/R line ~9900.
From there if we break the downtrend line its party time.
Kommentar:
|__ > Visualized the intraday turnaround at 8800 support on the 1D:
Kommentar:
Well fellas, cross your fingers and hope you can get this healthy buys at 9300.
1) Price is currently forming an ascending triangle on the 15m (left)
2) and there is a possible bullish hammer on the 4H
-> if this 4H closes above the 4H 200 MA @10132 then the momentum will be confirmed to make the move all the way to the downtrend line at 11300 without a retrace.
This is appearing likely due to the on boarding of all the money that was on the sidelines waiting for a bull trend structure to develop like the one we are witnessing.
FOMO INCOMING
1) Price is currently forming an ascending triangle on the 15m (left)
2) and there is a possible bullish hammer on the 4H
-> if this 4H closes above the 4H 200 MA @10132 then the momentum will be confirmed to make the move all the way to the downtrend line at 11300 without a retrace.
This is appearing likely due to the on boarding of all the money that was on the sidelines waiting for a bull trend structure to develop like the one we are witnessing.
FOMO INCOMING
Kommentar:
Kommentar:
We're coming up into heavy resistance here, expect a pullback from the downtrend line to ~9800 (9300/8800 are distant dreams at this point) to reload.
Kommentar:
If this isn't an inverse head and shoulders then I honestly don't know what is.
Kommentar:
Well that worked well, still buying @ 10k after this retrace, expecing a definite break of downtrend line after we bounce from 10k due to massive bull strength (it was already broken through making it weaker).
Kommentar:
Quick last bump up forming this H&S then our final retrace to 10k. Note the 4H 200 MA at ~9950 that will form a heavily defended floor for this.
Trade geschlossen: Stop wurde erreicht:
No good on this retrace, support broken, will go further.
1) 1H MACD crossing bearish in overbought territory, very healthy turnaround.
2) Impressive sell volume on the last hourly where it topped, pushing it down, if you check out the 5 minute and 15 minute charts you can see all the bearish volume is spiking and bullish is waning.