BTC HS formation

١١ سبتمبر ٢٠١٨

This is interesting to observe. We have a HS formation for BTC since June. The entry level is pretty much here, maybe it can down a bit more. Some people look at chart patterns and some people take it to consideration. Good traders also look at the candle sticks and its implications. I think all should be taken into account with 1st most important, 1) candle sticks 2)RSI and 3)MACD 4)Volume 5)Fib. Chart patterns can be to reinforce your observations with the 5 items mentioned. I'm still waiting a bit more for lower lows, somewhere between 5800 and 6150. Hard game of patients.

١٢ سبتمبر ٢٠١٨

ملاحظة

Looking at the 1D and 8 Hr candle, we see a health pullback\correction from the 6400 high. We can observe on the 8 Hr candle, lower lows so I expect the price to drop from the current 6200 range. If and when we get to the 6100 or lower, we need to see other signs, especially volume and follow through.

١٢ سبتمبر ٢٠١٨

ملاحظة

Looking at the 1D candle sticks, we have a symmetric triangle from a massive drop or descending\bearing market, indicating its likely to go down further when coming out of the Sym. triangle. If we include the observations on the red candle sticks for the last 2 days with lower lows, the easiest path is downwards. I feel 5800 is not reachable considering we are in September when around now its traditionally bullish market. I feel the lowest or bottom for this stage is 6100 range.

١٢ سبتمبر ٢٠١٨

ملاحظة

maybe for the short term,