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).
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).
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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.
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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.
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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.
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Downtrend line was drawn badly on chart above so it's not accurate, this one seems better and still respected:
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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).
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).
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Potential Head and Shoulders forming, other signals also bearish on 4h chart:
