Bitcoin breaks its triangle pattern with volume confirming direction and a candle opening outside of the triangle on the 2hr. The Ema ribbon is also broken on the 2hr with the 4hr ribbon being tested currently
Head and Shoulders on the hourly for Bitcoin
CME Futures chart of Bitcoin, regular scale, on the weekly time frame. If we connect the weekly candle (not the all time high) to the other highs we can see a triangle formation that hasn't broken out yet. We also see the futures gap (orange line) corresponding with the weekly EMA ribbon, which we like to come back to during bull markets (see 2017). I think we...
Bitcoin has a gap to fill at 9666 on the CME futures chart. With the difference in exchange price and futures it may get filled at 9700 - 9900. This will coincide with the bottom of the daily EMA ribbon and also the 21 weekly exponential moving average. I expect this to happen before the end of this upcoming week. Long squeeze and liquidations on the way,...
The 0.618 retracement level is your chance to get in on a trade if you missed the boat. Its also the top of the 4hr EMA ribbon and close to the top of the daily ribbon, don't miss this boat.
An inverse head and shoulders may be forming. Drop to the 0.618 fib retracement level at 9265, then bounce to complete the 2nd shoulder. Target price at 9592 (3.5% gain possible on a long trade with 0 leverage).
Previous resistance becomes new support. Expect a bounce at 8900. A Good longing opportunity.
Will we turnaround at the 0.618 fib level
A different way of looking at the current trend, rather than a triangle with fakeouts.
Another drop into the bottom of the 4hr ribbon, stochastic RSI looks like it wants to come down again, a repeat of what happened before.
May get rejected at the top of the daily EMA ribbon play out the AB = CD pattern and return to the bottom of the previous candle verifing the retracment from the giant M pattern.
Will the 0.618 fib level come through with a bounce again
topping out at long term trend line and 50 week moving average and 0.5 fib retracement