Daysandwicks

Daysandwicks

In my last post () I mentioned daily descending channel and possibility of Bitcoin going lower based on upper trendline of that channel. Now since a new week started, we got another confirmation from the weekly. As you can see on the chart the aforementioned channel is inside a yellow circle showing weekly action. And now if you look at the second yellow circle,...

Daysandwicks

Hello everyone, We don't see much life in Bitcoin besides occasional fakeouts due to SPX correlation but what we do see is a descending channel which started forming in June. Next logical move would be down towards mid 8000s, unless correlation with SPX once again saves the day propelling the price higher, so watch it closely. I'm not bullish until we...

Daysandwicks

Hello guys, once again keeping things as simple as possible. Spotted potential H&S pattern on 3D chart, also visible on daily based on a current trendline as a neckline. Interestingly, we can notice it too on the RSI. It is not ideal but H&S can be pivoted like that. EDITED: For more confused users, the head and shoulders pattern can signal a continuation and...

Daysandwicks

Keeping it simple and using 4h chart for better visibility. I can see a pattern here with a clear trendline connecting lower highs pushing BTC lower. The next move is based on that trendline and on the previous low that has been tested on the 26th and 30th of September and 7th of October. The percentage drop to reach previous low of ~7710 is also in line with...