As you can see we had a pullback from 7700 and Volume & RSI are showing a bearish divergence at the moment. If BTC realy bottomed and the market is turning now, we could see building a bigger inverse Head and Shoulder Pattern.
If we don't fall back between 7600-7500 USD, we have a good breakout through de descending upper Trendline (since 2017/12/18).
But the next descending upper Trendline is coming soon... as u can see ;)
We are now testing to break through the descending upper trendline of December 2017. It's the second time. Don't forget to place your buy orders, if we pull back to lower retracements :)
As you can see, we broke through the descending upper Trendline of 5th of May 2018.
Now our next Point of confluence we have to pass is 7750 $ - 7800 $, because there is a the 7800 $-Resistance, there is the 0.618 Fib-Level AND there is the next descending upper trendline (from 17 of december 2017).
The Target is market with a yellow ellipse.
BTW: Don't forget...
As you can see, we have a few descending Trendlines to crush through.
At 11: 51 a.m. we fell back, after we hit the descending trendline of the 5th of March 2018.
But we have already a few good Supportlines (7380 $) and a young, low Trendline (orange colored). Let's see whether we can break through the current "walls"
BTW: I'm bullish on bitMEX ;)
We are approaching the right angle of the red triangle. I think tommorow, let's say ... 4 p.m. (a well known time for pumps/dumps, i think) we will see a Movement to 7150$ (or deeper ~7000$) or we will rise to 7500$ or higher, maybe 7700$ (~EMA55) $
7000$ to 6950$ should be the total bottom of the actual Correction, otherwise I think 2018 will be no Bullmarket
As you can see, we failed to move up and now we already broke through the 0.61 Retracement (time-intervall 2018-04-01 to 2018-05-04), also we broke through the 1 to 1 Fib-Extension (Fibextension of the actual Correction/Dip).
So now the final showdown is coming. Let's see whether we are able to hold at the 7000$ Wall? Otherwise we are no more in a beginning Bullmarket...
As you can see, we failed to move up and now we already broke through the 0.61 Retracement (time-intervall 2018-04-01 to 2018-05-04), also we broke through the 1 to 1 Fib-Extension (Fibextension of the actual Correction/Dip).
So now the final showdown is coming. Let's see whether we are able to hold at the 7000$ Wall? Otherwise we are no more in a beginning Bullmarket...
Long gehen und entspannt bleiben! Die Gegend, der wir uns nähern ist starker Support. Außerdem sollte man sich immer mal Mai 2017 vor Augen führen. Wer Parallelen findet, darf sie behalten ;)
Der nächste Bullrun kommt bestimmt, vorausgesetzt, wir halten die 7200 $. Sonst könnt's wohl doch noch länger dauern...
