btc / usdt ... SHORT TERM SHORTBTC has printed a M retracement patternt so could make some money on a short position
Tradingthetrend
Potential Long 5th Wave on AEM, Daily Time FrameUsing our New Elliott Wave Indicator Suite , we are looking at a potential Long 5th Wave move on AEM. Entry will be through $60 and our Automated Target Zone is showing a Target price around $67.50. Risk to Reward is good and so looking to rejoin the overall and strong main Bullish trend
Bullish divergence on the 4hrs chartWe made a lower low but the RSI did not. I think we may breakout of the falling wedge.
Daily closed as a hammerAfter a few days of sell off with increasing volume we closed the daily as a hammer. Also in shorter time frame we broke the descending trend line.
Daily closed as a hanging manWe closed the day as a hanging man. There was a lack of volume but we could have made a double top. Saw 300 Btc in sell order at 11500.00 USD
20 and 50 day moving average crossoverToday the 20 and the 50 day moving average crossed. Every time it happened we had a nice bull run.
Possible BTC pennant, Daily chart patternWe are clearly in an up trend.
''in terms of structure, have converging trend lines during their consolidation period and last from one to three weeks''
The volume is declining; "The volume at each period of the pennant is also important. The initial move must be met with large volume while the pennant should have weakening volume, followed by a large increase in volume during the breakout.''
what do you think. Leave a comment.
source: www.investopedia.com
Possibility of a bear flag 30 mins chartsWe could be in the formation of a bear flag in the 30 mins time frame moving us lower.
Daily closed under previous day openStrong resistance at 11000$. We closed under ascending channel support line and we saw selling pressure all day. Next support the 20 day moving average at 9900$
Daily closed the day above upper channel line resistanceWe closed the day above upper channel line resistance for the first time since 2 months ago. May be a good time to go long. Could possibly retest support of ascending trend line at around 10400$ before going higher. I would still be careful as we just broke out. Be careful and use a stop loss
Upper channel line resistance is still in play. We are above support line of ascending channel. But we are still under the resistance of the long term down trend. I think the new day will tell us more where we are heading.
Falling wedge Bullish reversalWe just broke out of the upper line channel with above average volume confirming breakout.
30 mins time frame descending channelWe are still in bearish mode could get a turn around if we are able to break channel upper line. RSI not oversold.
