BITFINEX:BTC - Schiff Pitchfork Update
Updated
Somehow the pitchfork moved while I was not touching the pc. I based it on the same spots. Im not sure why it is not the exact same, but whatever. The trend lines match up and it still looks nice. It actually looks worse than before and I thought it already looked bad.
I am more bearish than bullish still.
I am more bearish than bullish still.
Note
So it seems that the difference between the two Schiff Pitchforks was a couple of dollars at the initial points. This Pitchfork is the more accurate one and goes off the point using the magnet feature.Note
Looks like we have a close on the 4HR above the trend line where we are. It looks pretty bullish actually or atleast a good entry with obvious stop loss. Just a little more movement in price. Maybe 43.4 and all times frames will be above the trend lineNote
Looks like poop once again. Interesting thing to note since last time. The price did hit the 375 hull avg on the 4HR and came back up for its highest bounce on this movement since it hit 43.8 (I believe?).I think it will go straight through to the 500 red dbl hull avg (41.8k) and then get rejected at the 375 and then come back down.
Long story short, I think we range between 41.8 and 42.55k for a little with more pressure downwards.
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