This chart is not based on any wave counting but will get more specific updates. This is an unusual way to visualize how the market will retrace and we can even predict some future events. Stay tuned!
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Retest of bottom followed by a slight bounce. Great for some scalping.
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Could be a double bottom, my target point to sell my scalp and look where it is going further is around 3620-3650
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We broke a new low, this could be heading down now
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3520/3475 Support
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Bounce time.
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Buy opportunity at 3471.7 USD
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Waiting for a clear move now.. I hope to see this trend break up from this triangle so we can retest higher levels. Should stay some time inside now.
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We went up and support held for now.
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Shorting range active at 3800-3850. This would be a safe shorting zone! Risk/Reward ratio is great here. Strong resistance at top channel and potential large ABC down to 3200-3300
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Thinking of Approximately 3 days uptrend or consolidation around 3850-3750 area. Then we would go more down after that. 4H timeframe looks pretty bottomed so no quick dumps atm.
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310$ move in 20H30min from bottom
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3735-3710 TP from 3800
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Target was hit! Bought some at this bottom. Not certain yet if we will go up higher, Maybe some consolidation at this area, 3850-3900 still good zones to start a short.
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I found an old chart of our 3K top retracement! Looks quite familiar doesn't it? We can see an Inverse Head and Shoulders which most traders feel like is bullish, but it actually failed. I could see a repetition of this scenario and we would now be at B from the ABC correction.
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I have created my own Telegram news feed. This will be mainly about bitcoin, if you want join me/us at t.me/TheTrex
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This was somewhat the comparison I hope you guys can see the similarity.
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This is what I'm thinking of.
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Stoploss got hit tonight, always important to have one! Upper resistance line is now being tested. Odds are that we are breaking this up if i'm being objective. Breaking the upper resistance line will create an uptrend for now.
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Important Update! The bear trend line has been broken. Was big short squeeze.
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Okay so yesterday we broke a downtrend line of 3.5 weeks which caused this quick minute scale pump. However as much as I like Bitcoin to go up and start fomoing for 5K/6K we have to be objective. We can expect a general upward moment for 1/2 weeks, but this doesn't mean huge price increases. I made a chart to show some areas of consolidation, the price still get pushed down by these trendlines and tries to stay in these triangles.
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Bitcoin has managed to broke my white striped line and it first retracement stop would be around 4200-4250 if it keeps going up.
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1st of October is expected to have high volatility!
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I see we are breaking through the "Short here" curve. This now acts as support if we correct down.
@Redado74, Chinese exit crypto enmasse due to end-of-Sept. deadline? Then again Oct. 31? But first, the pump to exit with high prices which may then send crypto into a nose dive...
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@dalmazio, I'd forgotten about Chinese ban, thanks for the reply my friend
@TheTrex, We where for 3 months needed in London for family matters. Now we are back home, but my main dev. prohibits me from publishing my charts.......that is a good sign.