BTC: Don't catch falling knives, but pay attention.

Jul 15, 2019

Still in a pennant. Since we closed below the pivot I think a double bottom is actually more likely around 9600 from the beginning of July. If the pennant or double bottom are successful, I'm expecting a test at the R1 pivot or around 18k. Wait for confirmation of breaking upwards OR downwards, this is where people get liquated all night long.

Jul 15, 2019

Note

Sorry, I meant the R2 pivot. If we do match the 9600 bottom, we must see confirmation of a breakout above the top decending blue line and R1 one pivot, or the pattersn can turn bearish really quick (decending triangle, double top)