We are in a H & S pattern, potential downside correction. oh the ...Bitcoin...careful we're in a Bull Ride !! I will find an entry point with a small size short.
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4 hr indicators say keep the long
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1 hr says it is losing momentum and flatting out....and the 1 hr has the ability to help curve over the 4 hr indicators, but this takes a much longer time .,. be patient.
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The Daily chart is hopium...hoping that on the MAC'd indicator, where I have the black arrow pointed to, the Blue line crosses up and over, northbound, this is the goal for a longer hold for more $$.
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Revisit 1 HOUR chart .. about 8 hours later from last post. Note I've increased the yellow ovals, we can see relevance to the price holding it's level like the recent past shown in violet ovals. Patience .. for those riding the "Longs" still looking good for upwards pressure
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Long Range view using the hourly chart since April...Marked with some arrows. Take look at todays yellow oval areas into comparison to that of April and what has happened till the next big surges in the indicators. Here's the snap shot for that.
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Revisit 1 HOUR chart ..again.. we can see the expected movement impulse within the guesstimated yellow oval boundaries, pretty much pan-out. Strength still shows for the bull ride. After the last posting price did flux upwards to 13% top out since the initial spike into this oval ..and then.. the downwards ride for the indicators in the yellow oval boundaries, while price merely fell 8% leaving the spike at 5% move. I feel this was a healthy reset, and hodl my long. I will bring one last snapper shot on board after this one, as a caution in the wind to think about.
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arrg... sorry here's that one hour..
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The pink lines, I'd like to stay above that. keeps the stress away. remember I'm long. So... if it drops considerable past the pink lines then .. X 1 2 3 4 5 pattern forms for the slide downwards or it stalls out in a ABC correction down there at that reddish $6,400 oval on the chart and heads north. I will plot the X123 part on the chart. I give a 30% on price dropping close enough to challenge the pink lines. it's best that price at least double tops as to totally negate this downslide cautionary idea. Again I'm long and expecting price to continue upwards marching along and not to challenge the pink lines, for the duration of this week. Good luck trading !!
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15 min TF....looks like that challenged one of the two pink lines, i was wrong about the week challenge, it did challenge the pink lines. basically the spike up went to negative percentage gain. Seems like the turn is happening.
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1 hour TF is strong....looking at the MAC'd, i've magnified it.
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MAC'd 4 hour NEW derivative lines sneak peak for our next upcoming chart.
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current new 4 hour in the works..see the green MFI and purple RSI combo indicator has new comparable ovals. meanwhile the bottom indicator shows no trending trend happening, all three gauges of the ADX & DI indicators are below the threshold.
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i still have my long .. 30 min TF
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"indicator bubble" insight series start next see my profile charts