Hello All,
I posted couple days back to show you the major bullish trend line BTC was following and we saw very nice break down from this level which was quickly bought back up.
This lead to ~1000$ pump with pretty good volume.
Unless BTC breaks below this line again, I am considering this as a Fake Out.
This 'fake outs' can be very powerful signals for the future PA, in this case a bullish case with potential move to 8500 and above.
In addition, we see very nice bullish div on Daily BTC and Shepherd Indicator, I am now waiting for today's close to confirm this divergence.
If it is confirmed BTC could pump (may be in next 3-4 days) to test the resistance we have near 8000$ to 8500$.
For Bearish argument:
we have bigger descending triangle playing out on daily BTC, yesterday's pump and rejection has for now confirmed the resistance zone near 7400$.
Lets see if this pattern plays out in favour of bears or not.
Happy and safe trading..
Chao..
I posted couple days back to show you the major bullish trend line BTC was following and we saw very nice break down from this level which was quickly bought back up.
This lead to ~1000$ pump with pretty good volume.
Unless BTC breaks below this line again, I am considering this as a Fake Out.
This 'fake outs' can be very powerful signals for the future PA, in this case a bullish case with potential move to 8500 and above.
In addition, we see very nice bullish div on Daily BTC and Shepherd Indicator, I am now waiting for today's close to confirm this divergence.
If it is confirmed BTC could pump (may be in next 3-4 days) to test the resistance we have near 8000$ to 8500$.
For Bearish argument:
we have bigger descending triangle playing out on daily BTC, yesterday's pump and rejection has for now confirmed the resistance zone near 7400$.
Lets see if this pattern plays out in favour of bears or not.
Happy and safe trading..
Chao..
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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.