ChartPicasso888

ChartPicasso888

We currently painting the mother of all dumps of a candle that will easy match the 10% crash seen not long ago, next target 9100 and below. A reverse will see us back again on the meandering uptrend and downtrend that plagued us the past two weeks. As always, Trade Safely, Happy Trading! A word from our sponsors: This is no financial advice!

ChartPicasso888

After breaking to 10200 as expected, we again trapped at yet another potential slow downtrend towards 9800, 9700,9600, 9400...bottom line we have created so much confluence with indecision there is no clear signs of a major break. Bitcoin is now trading more like a stable coin than the volatile monster that we came to know. I will be adjusting the orange slopping...

ChartPicasso888

We just set another lower high, unless the Gods of Bulls charge from thin air expect us to continue meandering down. Predicted moves are still holding with the addition of a tentative support at 9600 failing to hold this on our way down will see us registering yet another lower low before long. We are currently trading on thinner support and resistance range, so...

ChartPicasso888

So far we following predicted moves, gradually moving down and respecting all supports, it may charge up at once or gradually keep crashing, so if you believe that we will bottom at 8000 wait for 8000 otherwise DCA at key points. As always, Trade Safely, Happy Trading. A word from the Greats: This isn't financial advice!

ChartPicasso888

We currently squared off the way up with a similar way down from the latest high. Whats next then? We will rise back up and re-test the sloping resistance, if rejected we will bounce back down and re-test the sloping support and a possible drop towards 10000 given the current Haed and Shoulder pattern. Bulls will be awaiting that range as well and if they fail to...

ChartPicasso888

This is completely hypothetical, something to build discipline, nothing more than that. As always Trade Safely, Happy Trading. Note from the Greats: None of this might happen as well we may move sideways without aim if BTC chooses to. This is not financial advice, please do your own research as i am an everlasting bull, i call a few shorts on a good day lol!

ChartPicasso888

Unless you wanna come down crashing like an avalanche you best stay above that sloping resistance! We continuously getting rejected here, but in the next 8 hours we might see the MAJOR move or something that provides a clear direction. On the positive note though, crash wont all be too bad, as we all get discounted BTC, and if it goes up only a barrage of...

ChartPicasso888

We at an impasse and gradual climb along the 11000 sloping extension of the initial parabolic trend. We look well poised to eventually breach it yet we will meet right above it more resistance at 11400-11500. On the flip side we may get rejected back down into the sloping extension support from our yearly ATH back towards 10700-10500 and probably 9700 worst case...

ChartPicasso888

Confirmation of bulls?! Looking rather appealing. We now looking in great shape to break on the upside, there is a long way to go though caution is advised. As always, Trade Safely, Happy Trading!

ChartPicasso888

We have now set a very minuscule almost invisible higher high on the hourly, the 4 hour still to set a higher high. We are now also bouncing off the orange sloping resistance line looking to breach it or re-test in the next hour. What else does this mean, do we short do we go long, i would say its good for the bulls, if and only if we see a higher high on the...

ChartPicasso888

Well, not much to be said here, looks a whole lot like the same scenario unfolding before us again, a long bull candle followed by a lot of indecision then came down crashing, but then as they always say: Past performance does not indicate future results As always Trade Safely, Happy Trading.

ChartPicasso888

Should we continue on this descending trend, we have a situation where more and more bulls gather. In about 1d20h we will meet yet another interception of the descending sloping support and "if you have been following past posts" yet another extension of the parabolic break line. Not only this but we also meet a fib circle within the same area. This opens windows...

ChartPicasso888

We may completely ignore the 10400 support has it got breached in both directions and turn focus to the sloping support line. The descending support line has played resistance as well in the past. We therefore left with a broadening descending pattern and this is good news for both bears and bulls depending on the breakout direction. Don't be fooled though we need...

ChartPicasso888

We currently seeing a tentative support line at 10400, should that be pierced we may fall past 10000 again and possibly burst past 9700 to set yet lower lows. I would avoid saying we bullish right now as we haven't seen a higher high since the drop below 11000. Provided we don't continue going up the only other ways are sideways and most likely down. As always,...

ChartPicasso888

Our previous Crucial Point of intersection between the parabolic extension and sloping resistance has played to the 'T' with a number of Doji candles and we are now found waving sideways on the 9500 region. As it stands the bulls cannot keep a healthy run to the upside and further drops would be completely normal correction where bulls will most likely gather for...

ChartPicasso888

Zooming out into a wild though, we have been since this years ATH trading within a 25% parallel channel that has been crashing continuously to the downside but looking to break into the upside thus far. We have hypothetically a very long way before confirmation but i will leave this idea for future trend studies and trade planning. As always, Trade Safely, Happy Trading.

ChartPicasso888

As the bears continue to weigh us down away from 11000 at every chance we now respecting the sloping resistance line on the downtrend, nonetheless we still need a decision as there are wicks flying in every other direction. There is a lot of selling and buying as swings as high as 6% make for considerable profits in either directions. I would await a lower low to...

ChartPicasso888

Granted current uptrend continues and gets past the extended blue parabolic move line and meeting point of the descending line we about roughly 12hours away from a crucial move that may see us move up towards 11000 again. Chances are still there of being met with resistance and rejection that could see us plunge to the 10500-10000 range again. As always, Trade...