BTC (Y19.P2.E18).v2.Bear.Pennant.Formation

Dec 10, 2019

Continuing off from the previous post:

Observations:
- Still in the downtrend channel both in macro and micro level
- Volume weak
- H&S formation within the pennant - drop equals height of head or height of pennant.
- Confluence with some trend lines.
- Possible bounce off 7200 (have 7385 as min. target) last bounce before we are headed down (we usually see 3 impulses before breakdown further.
- Stochastic can indicate bounce with slight bullish Hidden divergence

Hidden Bullish div.




Key area to watch


Notice a pattern, on trend line impulses?


Previous post

Dec 10, 2019

Note

Dec 11, 2019

Note

Dec 11, 2019

Note

Fractural > If this holds (looking at the RSI), it might be a significant sign of the bottom

Dec 11, 2019

Note

Micro level...very predicable? 3 impulse waves

Dec 12, 2019

Note

youtube.com/watch?v=dEDABwIWrh4

Dec 12, 2019

Note

Dec 16, 2019

Note

Still bearish signs on the one day >
I have the MA on the Stochastics still pointing down.
I have the MA on the RSI over the current level.
My green bar on the chart is my area of interest at this point.
1st target of interest >6500 or 6800 range for a bounce (or bottom)

Dec 19, 2019

Trade closed: target reached