The first fractal in the first ellipse above the pink trend-line (in the price chart) designates a trend reversal. Will the second fractal in the second ellipse below the pink trend-line designate a trend reversal too? I think so, that is why i am longing this, not for short-term but perhaps for long-term.
Bitcoin is forming a cup and handle pattern, next few days it is finishing the handle part. I found a fractal in the price chart, RSI and MACD as designated by the ellipse. Expecting a pump after finishing the handle part.
No worries, trend is still up as shown by the trend-arc in the price chart and the trend-channel in the RSI.
On this 4 hour chart there is a bearish divergence in the RSI, also btc is pushing against a declining trend-line. On a 1 hour chart you can see a nice triangle in the price for the last 8 hours and a nice declining volume for the last 8 hours. I am expecting a small/big dump in the short term. Target 6200 in the mid term.
There is some aggressive selling (after a second retest) in the 7450-7500 zone while market makers have placed selling orders at 7500 on the orderbook. This to me seems a dump to be imminent. Don't know where to, perhaps this whole pump was a fakeout, rsi seems oversold and there is a possibility bitcoin could be heading to 7000 to reconfirm the previous bottom...
Don't pay any attention to me, i am still learning.