BTC Potential Pattern?
Updated
Over the week I have seen a lot of manipulation on the decent of BTC, since the 14 K drop.
At key points, I have seen at first hand whales orders coming in and directing the pattern, with massive orders on BTC (5000 BTC orders at some point), and seeing the path it takes.
My own opinion at this point is F... holding BTC, go in and out for they will dump it when its convenient.
I will go long when they are done pushing the prices and leaving it to its natural flow.
Volume tells alot, and volume has dropped and yet prices are refusing to go.
Volume from the 14K drop was the high and yet we see another attempt for a rally with much less volume.
I'm personally waiting on the DAILIES to go above the 12400 (closing above) before I will go long.
Note\Observation,
On the Daily chart:
RSI declining, MACD lines are closing in, all signs of bearishness, yet the price refuses to go down and if anything goes upwards.
ADX and DI bearish,
4 Hourly chart, ADX and DI indicates bearish momentum.
Cheers,
SS
4 HRLY Chart
DAILY Chart
At key points, I have seen at first hand whales orders coming in and directing the pattern, with massive orders on BTC (5000 BTC orders at some point), and seeing the path it takes.
My own opinion at this point is F... holding BTC, go in and out for they will dump it when its convenient.
I will go long when they are done pushing the prices and leaving it to its natural flow.
Volume tells alot, and volume has dropped and yet prices are refusing to go.
Volume from the 14K drop was the high and yet we see another attempt for a rally with much less volume.
I'm personally waiting on the DAILIES to go above the 12400 (closing above) before I will go long.
Note\Observation,
On the Daily chart:
RSI declining, MACD lines are closing in, all signs of bearishness, yet the price refuses to go down and if anything goes upwards.
ADX and DI bearish,
4 Hourly chart, ADX and DI indicates bearish momentum.
Cheers,
SS
4 HRLY Chart
DAILY Chart
Note
Note
Progress update:Its still staying to the original formation and we are not getting lower lows, but holding or lower highs. Hence it will go up to the next resistance within the ascending triangle, consolidate and up.
Note
Note
The above formation failed and we have a confirmation of a new bearish formation, more probable.Note
A big divergence and rising wedge on the 5 min.The Daily says its got more downs to do and so does the 4 HRLY.
Note
Target low 9k rangeNote
Note
Note
Clear resistance 
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