After 9k Level a significant bullish candle is visible on 4h chart, It broke that green trendline and ran over 8400 in 15 minutes.
Question is : It is real reversal and next Bull run has started? We will know answer soon. First significant resistance at 8600.
It needs to cross 8600 and stay above and launch another shot
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That 8600 Resistance proved strong and BTC needs to do another attempt to break it.
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BTC needs to cross 8600 and consolidate there and show bullish sign, till then be ready with stop loss . I will off for some hours , till then play safe . Protect asset.
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Aha, Rejected at 8600 level and fell so fast and now struggling at 8300 level, but volume is not enough . Hope you guys saved your money from this TA . If you like my work, share with friends and save them along with you.
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A possible H&S building or bear Flag which can take us down again, Bulls need to do something quick
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H&S Target is around 7900 . It may have some bounce on green trend line and then keep going down to complete target.
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Are we still making right shoulder or a triangle is in progress? we will know soon.
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That small H&S failed but triangle can still be in progress, that means we will have to look at bigger time frame for clear picture .
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On Bigger timeframe we see some falling wedge:
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On upside crossing 8600 and staying above is still very important .
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On one hour time frame looks like making a symmetrical triangle and bearish pinant :
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Triangle inside triangle , where we are going ?
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Breaking down little bit, we need to wait for the close of couple of candles.
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That tiny H & S inside the small triangle triggered it . H & S target : 8150 where we may see double bottom and can bounce . Triangle target : 7900 Stop - Loss : Just above the right shoulder : 8460 But wait and see if next candle on 15 mins chart is rejected from lower line of triangle .
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Momentum is weak for down term, so it is becoming risky, do not enter unless there is next clear signal .
Very good advice. If people want to gamble, then do not wait for verified signals and see how many guesses they win. If you buy now, it is possible, but needs to be managed ... enter a reasonable position after a pullback (even in this rise, there will be ups and down, and so draw your channel and wait for a pullback), and then protect with a stop, in case this is a fake out!
@nighty2k7, yeah, well when the TA is based on good studies, I guess that's what happens. People are tired of listening to guesses, wrong calls, etc. The principles of TA have been around for over 100 years like EW, Fibo, Patterns and Ichi Clouds, and it is a disgrace to just disregard these principles. It's clear @Arpi2018 does respect the principles, and this leads to better calls. Will this be right 100% of the time ... no, because there is still an art of interpretation, and we can interpret things differently. But if the calls are right 70% of the time vs. 20% with other authors (over the past few months), well I think I know who I'd rather convene with to share opinions.
SephTV
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its doing this my friends
fishsticks101
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DCardinal
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Interesting, I'm still new to TA, but have been seeing quite a few others saying BTC will drop lower -DC
Arpi2018
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@DCardinal, Thanks for comment. Follow me to get updates and thumbs up if like my work.
SteveGRN
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Thanks for your continual great guidance. I am just following you now. I think the other big cannons are just not really prepared to understand what is going on. Not sure why, but not seeing the correct % in their calls. MPC, D4E come to mind. Maybe too much personality getting in the way. Great job.
Arpi2018
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@SteveGRN, do not follow anyone blindly, even me. I will suggest to do your analysis , i am mostly posting with patterns and you can google about it and learn.