BITCOIN - They Even Don't Hide Their Movements Anymore!!Hello followers and other TradingView users!
Lately, we have seen some very random movements on the Bitcoin chart! The big guys/whales/'smart money'/bitmex even don't want to hide their movements on the market! $400 jumps are just like a joke, they come from the middle of nowhere!
They want to shake off orders, as many as possible before they make one very big move because this up&down - up&down means that they want to go into this move almost alone :)
Now, I start to do some technical analysis and I want to find out when & what confirms that direction where they want to go!
Bullish Confirmation Area Criteria:
1. We have formed a small triangle since 11.08 and breakout upwards gives us some bullish confirmation
2. We have a very minor support (blue line), then we have the April low (black line) and we have a round number $6500! At the moment they work as the resistances and break above those gives us some bullish signs
3. We have a trendline sine 31.07, pulled on the 1h line chart, candle close above this confirms some bullishness
4. We have a sloppy inverted Head & Shoulders pattern which will indicate bullishness
So, to confirm all those we need definitely 1h+ candle close above those level, we need to see volume in this move and the perfect scenario would be a candlestick pattern if we make a breakout!
Bearish Confirmation Area Criteria:
1. Candle close below the minor trendline since 15.09.2017
2. Break below the triangle
3. Weekley candle close indicates bearishness if we don't get bullish support from whales.
4. The trend is Your friend
5. NB: Some bearish movements would be also bear traps because whales are into the mood of play!
In the update section, as usual, I would like to start collecting confirmations from the shorter timeframes and hopefully, You learn something new from there to become a better trader in the future, so, stay on my channel and take the information with You!
PLEASE, don't forget to SHARE this, hit the LIKE and the FOLLOW button if you feel this topic deserves it!
That's the best way to support me and help to push this analysis to other users.
Best regards!
