Chart posted 8-15-2021 approx 1:21pm ET. Ok so this is an update to the previous chart. I like this one better because I now have some micro pattern support. The bullish cypher failed- again this slowed price action to signal broad top as seen in earlier charts I posted. The top however is ranging. In the newer devlopments we now have a lessor shark pattern- this one forms in a better position (it had me wondering in the earlier chart). Chart also has a bearish shark pattern which has now pulled us down below the prime resistance/ support point. These patterns are notorious for doing this and then swing back top side. The support (red line) is there..and price will need to stay above that to be valid to topside. If it goes below- a good short can be made. The fact we keep going below the prime resistance is a way of weakining it and making it irrelevant over time. Overall still long, but there is a strategic stop placed below red line for any fast fails. One other reason for this call- is there is a Gann Line plotted that price is settling on as well. This helps provide more support for the price action. Enjoy- lets see what happens! :)
Trade closed manually:
womp womp.. looks like BTC still ranging.. Busted call here. Back to the drawing board.
Comment:
Looks like the reversal is back up...
Moorsc0de aka Crypt0nomics aka Zaphkiel
