Market after a big bounce from 5800 is in consolidation phase now... and forming a bullish flag pattern Market has crossed the 50 EMA and after 2 candle pullback formed a bullish engulfing candle and moving further upward... Enough confirmation to enter this trade with stopbelow Swing low Target 1 and target 2 are mentioned..
1) 4 hr is bearish.
2) expanding rising wedge is a bearish pattern and we're at the top of it
3) at the top of a channel and didn't break out
4) bearflag targets give ~5400 and strong horizontal support is at 5k
5) same type of fractal we've been seeing for weeks - bart head
At least wait for the channel break before longing anything at this point, or just wait for the mega dump that's about to happen.
cryptographic1
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Oops here's the correct chart link
FxTicks
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@zmm20, thanks i will keep that in mind
weslad
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Detailed comparison between 2014 and 2018 Guys its awesome.
BTC seems to bounce as largely expected of people that 58XX zone will do the magic. I saw a great analysis on the log scale showing exact price action on a re-test of major level. It worth looking at. If this is correct then BTC will be on with a great moves.
1) 4 hr is bearish.
2) expanding rising wedge is a bearish pattern and we're at the top of it
3) at the top of a channel and didn't break out
4) bearflag targets give ~5400 and strong horizontal support is at 5k
5) same type of fractal we've been seeing for weeks - bart head
At least wait for the channel break before longing anything at this point, or just wait for the mega dump that's about to happen.