Long

Updated

Bitcoin loves symmetry

If this inverted H&S will play out the rocket will take us to the stars..

Keep watching everybody

Note

Here is a closer look on a smaller timeframe. We could be doing diamond on our road to the downtown

Note

Notice the EMA200 on daily (RED). Bitcoin wants to kiss it and thats the place where the real bounce or rally can start. It can also wick it below that level but should be bought up

Note

Bitcoin can be ready to go

Note

On 30 min timeframe there is also possible bullish three drive patern

Note

Also found a bullish bat which has a perfect alignment with the three drive

Trade active

Looks like we have a breakout. Bulls have pushed up the price already at these levels. Its a buy. I'm buying on pullback

Note

Dip could be around ~10k

Note

Bitcoin is a sell for now. Back to restest support at 10k. Hope it will hold

Note

Elliot wave in this structure is at five wave. Bearish divergence and also resistance at 11k seems to strong to break it this time. Need some retrace to try next time

Note

I am also wondering about bigger triangle we can be building right now. Thats only my guess for now. We might need bigger consolidation to break heavy resistance above us. If we go around ~9500 again I would be looking at it closely as a possible bounce from triangle bottom

Note

Bitcoin formed a diamond

Can have one more leg up

Note

Wondering about this. Seems to me that we still have to finish wave 5 of elliot

Note

Plan seems working

Note

My near term game plan

Note

Plan worked pretty well. Anyway, you have to be very careful holding/longing here. We're in a rising wedge (red triangle) which is a bearish patern and most likely will break down.

Also, I know we break through downtrend channel on my Inversed H&S chart but you have to know that it is in linear scale. Downtrend line in log is still above us so we are not out of the woods yet. We have to get better confirmation to know where this is really going

Note

Bitcoin is still in the wedge but its looking very bullish. I saw such paterns breakign upwards in the past so I hope we will see up break. Lets see. I will also post below two more charts of fractal I found which I find very interesting

Note

Here is our actual situation:

And this is action from September:

I also have a bullish cross of EMA 200 and EMA 100 on 4h chart. Last time this happened was exactly on September when bull charge for 20k began

Note

Daily closed ugly. Purple wedge seems breaking down but we could be in a bigger one (blue). Last support level test is at play

Note

Bitcoin loves symmetry, until it doesn't.

Unfortunately It didn't make it to break the red dotted line at ~12k and now falling still and still seems to me it can be continuing the downtrend. We have still the bullish cross on the 4h EMA100 and EMA200 but we remain under them and the cross might just have been not a solid one. If we won't make it back above them soon, and whats worse if we form back the bearish cross, we will surely continue the waterfall.

Here is the possible bear scenario. Take a look at the last bullish EMA cross and bearish one that I drew and which can show up confirming more bears coming back

Order cancelled

Bitcoin should bounce around 8200 but I don't expect much from it. Will probably continue falling lower. I'm closing this chart as inverted H&S didn't played out

DeadSerious

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

DeadSerious