Btcsell
BTC intraday short opportunityPrice moved upwards as predicted in the previous idea. We are now consolidating under one of the major trend-lines, where breakout usually occurs on the 3rd TL touch, which leads me to believe we are up for more complexity to form some bullish pattern against the main TL, I'd bet on WXY running flat to sweep the lows first, therefore shorting the 2nd touch (if we get there) with a very tight SL above the high could be the play of the day.
Bitcoin's Evening Star Pattern The Bitcoin price is in the process of creating a daily evening star pattern, which consists of
Bullish engulfing candlestick (March 19)
Doji (March 20)
Potential bearish engulfing candlestick
The pattern would be completed with a daily close below $5400, which would take the price towards the range lows at $40xx.
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BTC (Bitcoin) still range-boundThe most popular cryptocurrency opened trading on Monday, November 4 with a 2.3 percent increase and a green candle to $9,423. It peaked at $9,597 during intraday and successfully broke above the 38.20% Fibonacci level.
Bulls, however, were not able to hold their territory and retreated to $9,311 on the next day, Tuesday, November 5. We saw the BTC/USD pair trading as low as $9,174 during the session.
On Wednesday, November 6, bitcoin was trading lower around noon but managed to recover in the evening closing with at $9,347.
BTC still ranging in the $9,500-$9,000 zone as $9,500 also is covered by the Fibonacci 38.20%
Expecting a drop below $9,000 in the coming days mainly due to the relatively low volume - between $22-$28 billion since November 4, still lower compared to the peaks in late October, and low volatility. Bulls seem weak and out of steam.
CRYPTO: BITCOIN (XBTUSD) BTC SHORT OPPORTUNITY - WEEKLY PINBARAfter a rallying week to $14k, we saw a massive sell-off, which, to be fair was expected so let's not be disheartened by it. A pullback is healthy and necessary to sustain any gains in the markets... and a great opportunity to buy back in at a low price so I welcome them with open arms :)
If the weekly candle closes below $10.7k, this would be confirmation that the bears have taken control and I would expect a breach of $10k.
I have set out target support levels where I would expect a significant bounce from and levels that we are likely to test/reject:
Level 1: $10,000.00
Level 2: $9,200.00
Level 3: $7,350.00
Level 4: $6,000.00