RSI-DELTA
Bitcoin xmas gift - more pain coming next year?Volume and momentum is suggesting a continuation of this xmas bull rally into next year. Price doesn't necessarily need to act according to the outlined waves which are based on support/resistances and hypothetical future uncertainly (with the asymmetric triangle).
Think that max it could go is really the 6-7k range where sell pressure exists (limit sell orders) and buy pressure (stop market buys) would probably sit above it.
Bitcoin at the apex. Final shakedown then xmas present. OK. There's great chance honeybadger could hit the 2.7-2.9 support levels in an extended wick and reverse for a short xmas into new year bull rally to get everyone hyped about before more pain.
While I feel the brief visit to bellow 3k is possible we should pay attention at current price level because price is showing some signs of strength and volume in lower time frames
Bitcoin/Gold M Ah! "capitulation" LMAO A look into monthly chart confirms that we are way far from a bull run. It is also pretty evident based on volumes and candle rejections that we didn't see yet any meaningful signs of capitulation.
There more downside ahead. Perhaps a strong support at the next technical level wich also coincides with marginal cost of production less hardware costs price zone.
1300k Price range support seem crazy think about but just notice volumes at early stage of previous bull If we get under 3k we could see massive shake off pushing towards a potential capitulation.
Bitcoin triangle and support channels brokenBitcoin has broken the compressing triangle near the apex and now broke the closest support line based on triangle lows.
Oscillators also show broken structures.
If short placed before breakout good. Stick to it - It is not yet time to exit since nothing suggests otherwise. But adjust the stop loss to decent level in case of surprising reversal (wouldn't be surprised to be honest) and bear trap confirmation.
We shall see if we are going to see more sidway and price consolidation or continuation. If price consolidates for awhile and show some rejection from the downside showing bull presence it is more likely we could see massive pump to 7k levels. Too soon to hypothesise on that.
Atm short bias but not anymore a good time to enter now short until further evidence of weakness.. Time to be very careful because interest is still significantly low and this last move is indeed possibly a bear trap at weekly support levels.
Ethereum Classic getting ready...OK Ethereum Classic is one of those shitcoins looking in great position for possible long position. Would wait for one or two candles closing above the Hull MA (34) .
RSI 5 and 13 showing divergence. Yes i know recent close is not exactly same level or lower but the geometry of RSI is too steep to not consider these.
Volume increase on rejection also show interest in this zone. Definitely feels that something is going to happen soon.