I dont see BTC goign further than that. MRWZRD
MR.WIZARD REMEMBER TO ALWAYS SET THE BREAK EVEN AS SOON AS POSSIBLE. FIRST RULE OF INVESTING (SEE MOVIE REVOLVER) MRWZRD
So we had a triple bottom with very low volume. if it was the begining of a new uptrend or bullmarket , it would have had a much stronger bounce with more wicks and much more volume, if you look a th the chart the strongest volume points are in the upper bounds which is a bearish indicator. We have stronger volume where it is now which is at the top of a range,...
clear bearish volume and bearish price action with the upper wicks with volume, btc is definetly going to tread lower in a steady pace for a couple of days at least, its a good place to enter short and quickly put your break even
www.tradingview.com -Mr. Wizard-
This chart looks bearish, because it sure doesnt look bullish. There is very little bullish volume on the bounce with the lower support, there is very strong volume right after the bounce which is always a sign of a upcoming breakout, then we have some lower highs followed by lower lows, but it is respecting a Resistance coming from the previouse bounce, a lower...
MRWZRD SPEAKS I NEVER EXPLAIN WHY BUT I WILL THIS TIME, THE PATTERN THE SUPER BEARISH CHANNEL IT IS IN RIGHT NOW HAS A LOT OF BEARISH VOLUME, ON THE TOP PEAKS, THIS FORMATION NEVER CREATES A BULLISH MOVE, IT WOULD HAVE TO BREAK IT THEN CREATE A CONSOLIDATION BUT I DONT SEE THAT HAPPENING. THERE IS SOME RESISTANCE VOLUME RIGHT NOW ON THIS PEAK BUT IT IS NOT TOO...
mrwzrd
mrwzrd
Hope you enjoy this as much as I did making it. Basically we are going down in the short term, but soon we will enter a bull trend again, how soon who knows but we are seeing the FIRST beginings of a trend reversal.