I am a day trader and i usually like to trade waves and post dip pumps.
I did not add any indicators, so the overall view could remain clear.
I see two possibilities for Btc right now to open trades.
If the bullish flag was about to reach his inverse pole target, we would be close to reach the target of the reverse H&S pattern, which would be a bullish sign with some chances to reach 9200 Usd.
But Bearish flags are most of the time irrevelant in such an important downtrend we are having.
If the bullish flag doesn't create an inverse pole to the upper part, the normal H&S will certainly be formed.
Such a nice action tonight!
Let's see if they are going to try again putting some pressure to this 50 EMA and push above it!
If the bulls manage to create an upper flag pole, the reverse H&S would have chances to be made, which would give great opportunities for Btc to get to some good decent highs, knowing stock markets and Nasdaq are probably going low again.
If the bears manage to create the right shoulder of the standard H&S, we probably gonna see Btc go back to some lower resistances, for the happiness of opportunistics low buyers.
Unless a miracle happens -i'm thinking about some more incoming volume and bullish motivation-, we probably gonna see a right shoulder of the H&S getting formed, for some more lows to be seen.
Let's see if it pierces it and manages to install some candles over there.
Let's study what happens next.
Btc is now on its way to reach the reverse H&S left shoulder target.
The last 10 hours were completely crazy.
Keep in mind that the market is extremely volatile and unreliable right now.
As we are in an important downtrend, the left forming reversed H&S could start heading lower to eventually end up forming the right H&S.
Trading right now would be in my opinion some pure gamble and very risky, i would advise waiting for some clear signals before starting to trade.
And... Good luck everyone.
When we see important quick bull runs like these, we tend to forget that we are in a bearish trend, greediness and FOMO can make trades tempting, and that is why i recommended not to trade as it would be too much of a gamble.
This succession of bearish flags that is happening now should be a clear warning that bears are dominating, and this is to give us pause.
Even if we see some bullish progress, we are in a huge downtrend.
Bears might be calm, but they are still here and active.
We need to have a candle to close above it, and the target would be definitely reached.
This will not be a trading start, yet, as we might see a retest of the left shoulder to the downside.
We might as well be in the middle of a dead cat bounce, do not forget the huge downtrend.
If they can make it, expect some more bullish uptrend to happen for the next day.
We should see a slight new bullish uptrend now.
This is not good.
Some candles above 9050 will be a good signal.
Price might reach 9100 and then go lower to find some support.
9100 would be more cautious than a weak 9000. We are still in a bearish market and caution is the key, we dont want to start trading too early and realise we were in a bull trap since a week.
But expect some quick retest of the supports between 8600 and 9000, it is normal to correct after such a general market explosion, it will be healthy to buy in if you missed today's opportunities
Ltc is forming a huge one.
Iif you want and can, you can buy now, the risk reward is low, these coins are going to explose by the top pretty soon.
Good luck to you!
The bull run is not over, you still can find some quick entering when the coins have some slight drops.
And thanks for following me!
Btc is again, forming a bullish flag.
We are having an exceptionnal bullrun, i would say we have a solid 75% chances that this Btc bull flag propulses it higher, with Eth and Xrp too.
It coule be the right time to add some more.
Yes, let's see if it can finally and properly make the left shoulder of this reversed H&S pattern. We're getting more and more close to do it!
I think this is the most painful and intense 400usd raise that Btc has to do for its survival.
It is possible as we are in a very important downtrend channel.
As long as you don't go out for Tether, sure!