ZIL BTC Bull PennantZIL recently broke out of its ascending triangle and seems to be forming a bull pennant, could be getting another leg up soon
Cryptopeep
H&S also indicating a drop in priceDescending wedge, H&S about to complete, bearish sentiment down to around $8400 - $8500
BTC USD in a descending wedgeGood time to go short as it is just below resistance. Going to wait until the price comes down a bit and then go long in anticipation of the break up
BTC getting close to break out!Been waiting over 4 months for this, will btcusd break the 4 month resistance. In log view we can see btc has still not broken out yet but very close. If it touches the red line may drop $200 before breaking through the resistance. Fingers crossed. Please let me know if you think otherwise.
Will BTC cross $8500, be careful and turn log on and offQuite a few people are saying BTC is now out of down trend, however if we turn on log view in the bottom left, it still has not crossed the big resistance.
A lot of big traders use the log view, therefore if we cross around the $8500 range, I would then like to think we are out of the down trend and prices could rise quite quickly.
Any one that knows me, knows I do not really believe that a chart data can determine if the price, there are too many variables.
However i do believe if enough people or bots detect a pattern, support or resistance then there is a very strong chance they will react to it and therefore the price changes.
Remember now there are more and more bots trading every day. They have to use a pattern or a support and resistance to know when to buy or sell.
The hard part, is working out what signal the majority will act upon. We are working on a strategy that takes many signals into account, and hope it will gets great results.
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