Structure: BTC over the last month till date has had a Double Top Pattern around the 21st-25th Sept, it later had a bull Flag intraday 27th, which later saw price drop and hit a Support level. From there on there has been more of a Rectangle Pattern with Major Support of $6491 and Resistance of $6642.
Hypothesis: Wall-Street trading veteran Thomas Chippas, recently alleged to get involved in backing Crypto in Erisk with Bitcoin core and cash features, this should only in the long term improve the Goodwill of Bitcoin to the mass populace. The EMAs (200) and (50) are currently looking steady on the 2h time frame with the latest Rrctangular Pattern of price.
Confirmation: Linking the Price bar with the Indicators, the price bars just recently hit its major Resistance, therefore a drop in price should be expected over the weekend. The BB upper band was hit by the Price, just as the Resistance, indicating price should drop. The RSI shows price came up to 60% price and is expected to reduce in due time. With all these I recommend going Short so as to avoid loss over the next 2days and Maximise profit.
Entry $6580.5
SL $6611
TP $6489
Hypothesis: Wall-Street trading veteran Thomas Chippas, recently alleged to get involved in backing Crypto in Erisk with Bitcoin core and cash features, this should only in the long term improve the Goodwill of Bitcoin to the mass populace. The EMAs (200) and (50) are currently looking steady on the 2h time frame with the latest Rrctangular Pattern of price.
Confirmation: Linking the Price bar with the Indicators, the price bars just recently hit its major Resistance, therefore a drop in price should be expected over the weekend. The BB upper band was hit by the Price, just as the Resistance, indicating price should drop. The RSI shows price came up to 60% price and is expected to reduce in due time. With all these I recommend going Short so as to avoid loss over the next 2days and Maximise profit.
Entry $6580.5
SL $6611
TP $6489