The latest most unambiguous situation on Bitcoin. The following picture corresponds to a set of theories of accumulation/distribution . We have a double level of support that differs in density of the volume of trading during the moving through it and through a double zone of resistance. The closest levels to the middle of the channel have the property to be decisive for traders trading within the channel with the ability to save a deposit by buying or selling after the price returns to the internal zones moving along the flow the current position. And external levels serve as a signal to exit the channel, depending on how the market reacts to them. If the price is traded inside the extreme channels (upper, within $9580 - $9660 and lower $9235 - $9380), closing in on the appropriate level, this stimulates the continuation of movement with an impulsive dash towards the level that attracted the price.
In our case, the price has still rather poorly managed to demonstrate its character in the area of support zones, therefore such a scenario may seem like preparation for the creation of a strong reversal pattern, or reversal scenario in favor of the LONG position. On the other hand, we remember how the price behaves in such double channels and how to analyze the breakthrough the accumulation/distribution channel.
Let me remind you that when the price is pressed against the extreme levels of support/resistance, followed by breaking through and fixing - a strong signal to continue the trend in the same direction. A strong reversal pattern for a hike upwards can be either a triangle with a flat base on top, or a double bottom in the double support area, or an inverted H&S with a head top in the area of $9235, and margin in the area of $9380. In the case of the H&S, we will see a further flat. longer than in other situations. This hour, the price priority is downward, as the price is below both resistance levels with the direction vector downwards.
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Just checked your latest 20 or so TAs. It made me wonder how come you guess the price movement wrong 90% of the time. A simple coin toss would give much more reliable results.
Tylax-Finances
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@calyxim, just checked your latest 20 or so TAs. But I found out, that you didn't even published 1. It made me wonder how one can blame others who at least try their best to serve ungrateful people like you, who don't do nothing at all but trolling. Get your things together mate..
calyxim
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@Cash-Dash, when a chef serves you horse c*ap would you just eat it without questioning because you don't cook?
Tylax-Finances
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@calyxim, comparing someone's TA with horse c*ap, especially in hindsight and if they were wrong, just approves one more time how ungrateful you behave.. ;)
calyxim
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@Cash-Dash, I see that English is not your strong point. I am saying that your analogy is wrong. With your analogy people not involved in politics shouldn't vote.
If your dream is becoming a food critic you shouldn't worry about becoming a chef first.
You should have learnt these simple life lessons by the age of 15.
Tylax-Finances
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@calyxim, I see that comprehensive reading is not your strong point. I am saying that your analogy is wrong. With your analogy, people who are not able to give constructive criticism or come up with something more valuable should criticise others who at least try their best to create something valuable.
If your dream is to become rich by trading you shouldn't trade based on anyone's ideas other than your own.
You should have learnt this simple financial lesson by the age of 15.
Have a great day. :)
calyxim
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@Cash-Dash, it's quite rich coming from someone defending others ideas.
carloscash101
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@Cash-Dash, don't Cry. He is right. The prediction of this "gurú" are 90% fake.
piskeante00
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Bears are in command right now. it's very simple to see. There is no demand on the 9300-9500$ range. Noone is buying. We've been almost flat for the last 3 days. Whales, marginal traders, aggressive traders and big investors HATE to see this lines because they cannot win money. This guys know exactly with their bots what they should do. So a predict a big big dump (10-15%) in the next 24-48hours. For me it's very clear. It's also going to happen to ETH. There is a big resistance in the 225$ which is acting like a bulltrap. There is no buying preassure in the 210ish $ this is why i predict for the next 24-48hours a drop to the 180$ range, with a more than possible bloodbath to 150$.
SlavicChartist
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@piskeante00, Yeah, So we can also fill the Bags with very cheap bloody alts ;)