BITFINEX:BTCUSD COINBASE:BTCUSD BITSTAMP:BTCUSD
1.Low / decreasing volume uptrend
2.Forming bullish cypher with CD downleg incomplete
3.7hrs kumo cloud resistance on the head
4.The cypher completion expected at traditional S1 support
5.Bounce from the cypher effect to be arrested in the 0.382DC then 0.618DC, Complements Kumo cloud resistance
6.A later on...
BITFINEX:BTCUSD COINBASE:BTCUSD BITSTAMP:BTCUSD
Rationale for entry..
The reversal from the falling wedge on good volumes ,
The 5/13 dema cross on the uptrend,
The RSi in the oversold zone
And finally the Bryce Gilmore classic butterfly with an uncommon AB=CD pattern doing reversal from the PRZ on the back of good volumes...
In short, a feast!
Take profit is...
COINBASE:BTCUSD BITSTAMP:BTCUSD BITFINEX:BTCUSD OKCOIN:BTCUSD
A bearish gartley on the back of a bullish momentum price divergence..
This is a good opportunity to trade..., may trigger a breakout, although the bulls are too weak for the bears in the short term
BITSTAMP:BTCUSD
Case for the bulls...
1.A longer term bearish abcd with a bullish CD leg under formation
2.Breakout from the ichimoku cloud on the four hr chart , both lagging line(Chikou span) and price action
3.Fibonacci retracements of 0.382 bokeen on good volume support (although not a clear brekout)
4.A inverse head and shoulder with classical volume pattern...
