UnknownUnicorn3847527

UnknownUnicorn3847527

While the market is sideways, here is an outline of the H&S pattern we have been watching play out on Bitcoin. Even if you already know what it is, nothing replaces repetition to ingrain these patterns into your mind! This should not be the basis of your trading, only something to pay attention to while keeping risk management in the forefront. - Formed with...

UnknownUnicorn3847527

Strong resistance at $126 is going to be the deciding factor. Not sure why anyone would be looking long until we break clear above this trend line on Ethereum. This is even a slightly cleaner line than #Bitcoin. Which wicks almost perfectly testing it repeatedly going back a month. Large resistance still stands above here. Expect chop. twitter.com

UnknownUnicorn3847527 Updated 

A break below this trend line should mean a retest of pivot lows. A bounce up here would be the expected pattern though to stay within the range. $3,800 is still the area to watch for a more solid swing long set up. Low volume on this last push lower.

UnknownUnicorn3847527 Updated 

I'd at least expect a retest of $5k soon, as it is a major attractor of price. A break of this trend line, that has shown support for almost a month now, syncs up with the near-term 50% area of $3,800. Don't get stuck watching only low-time frame charts. Always start with high-time frames when you draw your support and resistance levels. I use a weekly and...