As you can see we have a Bearish Bat developing on USDJPY, this is right at a critical resistance and could easily develop bearish divergence at the pcz. Stoploss would go just above x and take profit would be at C, A and the previous lows.
Bitcoin is showing bullish divergence at an important demand line after breaking a down sloping trend line. I am expecting to see a pump here to possibly form a new high and test the top of the channel.
#BTCUSDT Update: Bitcoin is having an important breakout of two geometric trend lines. We just closed on the weekly above a important sell wall and outside of a downs loping trendline. We could see much higher prices such as 10350, 11000, and 11680 very quick. Keep your eyes out!
As we can see on XLM we broke out of a down sloping resistance and now testing a demand line. On the weekly we are above a critical resistance so we could easily see XLM test it's local highs.
As you can see on Zil we have a bullish Bat pattern looking to complete at the 0.886 level. If we reach this level we can look for long positions and target the overhead resistances shown on the chart.
Bitcoin has broken out of the descending channel. A bullish breakout is not confirmed until 9500 is broken. If 9500 is broken we have a good chance of going to test 9800-9950 again. If this fails we will see Bitcoin down to 8500 and possibly lower.
On Bitcoin you can see we broke the upwards resistance and broke out of the bear flag upwards. We got rejected from 7100 resistance once again and are currently just below it. We have somewhat of a reversal candle on the 4hr time frame also.
Here is another possible situation for Bitcoin, I am waiting for more buy pressure to come in before taking a position but we may come up to the 0.618 Fib level, test previous support/ resistance then go down again to see lower lows.
As you can see here we are trading within a downwards channel and are nearing the top of it. I believe that we touch the 0.786 Fib retrace and then proceed to hit the bottom of the channel.
Bitcoin tested the resistance zone and got rejected once again and broke our rising wedge downward which was expected seeing all of the buyer exhaustion we saw on the RSI. On the 1hr chart we are seeing some seller exhaustion which could potentially mean some higher prices maybe a small rising wedge but I think we will move sideways for a little bit to let the...
As you can see we have Bitcoin sitting at a pretty key price level in this upward trend, I feel there is no good enough direction of price to take a position as we have not confirmed that resistance is broken so we may fall back to the 0.236 level on the Fibonacci and test the lower levels of the trend we are currently in.
