Seems like BTC just couldn't break up above the cloud and downtrend line. Now it broke local resistance, 50 EMA and Tenkan line which were holding it up. Kijun being tested at the moment of writing, also we are reaching lower end of BBands.
F Kijun doesn't hold the price up I think we may at least touch 13k or even retest the support at 11000ish to form a double bottom. 10k is also strong psychological resistance, if we break that we may see lower prices (saw some predicting 6k).
코멘트
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Touched 1.618 fib at 13k. Expecting bounce from here since volume isn't that high and there is a large buy wall at the moment.
코멘트
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As expected we got a bounce at 13k-ish level, so now well see if it goes up or down from here.
코멘트
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BTC seems stronger, slowly broke through downtrend line, but still having problems with local resistance. Staying careful until it shows a clear trend.
코멘트
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Downtrend line was drawn badly on chart above so it's not accurate, this one seems better and still respected:
코멘트
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We broke through resistances with some volume, Ichimoku signals are bullish on hourly (TK crossed, bullish cloud, Chikou Span above the price) confirming we may go higher. ...so according to TA correction seems like over (still waiting for EMA cross though).
We also formed Adam and Eve pattern so potential target according to that is 18,3k$ (we also have 3.16 fib level at that price).
코멘트
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Potential Head and Shoulders forming, other signals also bearish on 4h chart:
Are we going to 10k ? It seems it has broken 13k...
Tadej
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@Gaengphed, it has broken 13k but seems like it's having problems with 14,3k (local support/resistance), so not sure about direction yet.
Jazz-man
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Watching closely. Real close to RSI 25. It's going to bounce like a springboard. It's hard to say exactly when cuz we're in the holidays now. But then again crypto nerds don't celebrate holidays. Lol
Jazz-man
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Crashes always follow Elliot wave abc daily chart cycle. Mark my words. 25rsi daily.
Tadej
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@jazzman4u, Marked. :) It's currently around 45.
Jazz-man
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Needs complete Elliot wave C and touch 25rsi on the daily before whales ate back and reversal starts.
Tadej
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@jazzman4u, Yep, looks like Elliot wave hasn't completed yet and we are getting second the leg down.
Tadej
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Touched 1.618 fib at 13k. Expecting bounce from here since volume isn't that high and there is a large buy wall at the moment.