BTC- Dissecting the Consolidation
Equilibrium forming.
Currently we are right in the middle. Looks like a snake coiled up and ready to spring. Expect upside movement soon.
Volume declining overall.
Good for a potential aggressive price action move
Potential Bull Flag in Orange.
Experimental at this stage.
Profit taking has started, there has been quite a bit of selling in these candles.
Doesn't mean we tank from here, just that traders are waiting for a set up that fomos them.
I think that we will make it up to the Orange line tonight
If we make it to the top resistance grey line then look out for a potential Cup & Handle. I think it would be too soon for that pattern to play out, expecting a few days of consolidation, but who knows!..
200 MA is just above us around 8600 at this point so we will run into Very Strong resistance at that point
Today there have been two sell off attempts, but neither of them have done much. There could be a little more selling off, but I think the bulls will have the momentum through the night.
We had the bullish divergence in 15m RSI, at 8080, so that should carry us to the top of wherever this consolidation takes us.
Market cap is 300B (in the high range) if we start to see new highs in Mcap (>305) then that would be significant.
Currently we are right in the middle. Looks like a snake coiled up and ready to spring. Expect upside movement soon.
Volume declining overall.
Good for a potential aggressive price action move
Potential Bull Flag in Orange.
Experimental at this stage.
Profit taking has started, there has been quite a bit of selling in these candles.
Doesn't mean we tank from here, just that traders are waiting for a set up that fomos them.
I think that we will make it up to the Orange line tonight
If we make it to the top resistance grey line then look out for a potential Cup & Handle. I think it would be too soon for that pattern to play out, expecting a few days of consolidation, but who knows!..
200 MA is just above us around 8600 at this point so we will run into Very Strong resistance at that point
Today there have been two sell off attempts, but neither of them have done much. There could be a little more selling off, but I think the bulls will have the momentum through the night.
We had the bullish divergence in 15m RSI, at 8080, so that should carry us to the top of wherever this consolidation takes us.
Market cap is 300B (in the high range) if we start to see new highs in Mcap (>305) then that would be significant.
ملاحظة
break up emminentملاحظة
10, 15, 30, 1 Hr Stoch RSI in oversold, and ready to come up. 5 min is half way up so far.
13m buy block on bmex, pushing
ملاحظة
8223 would be confirmation of counter trend line break
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منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.