BITCOIN - 13 FAILED ATTEMPTS TO BREAK THE $6780
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Hello!
Since 25.06.2018 BTC has formed several higher highs and higher lows which in turn has created different chart patterns. At the moment I have drawn in the chart one widening channel upwards (clean and clear higher highs and higher lows) and the "Ascending Triangle"
We are a very top of the price range, here is the decision point where we want to go in this week!
On the 1h timeframe we have a very strong resistance area at $6780, at the moment 13 attempts to break this level but no success yet, all attempts are failed!
If we look closer those chart patterns - we have mixed patterns on the same price level! There is a little bit sloppy but still "Ascending Triangle" which indicates bullishness and we have a continuation pattern (the bigger trend is down) "Rising Wedge".
So, breakout either direction is due to the pattern and the pattern confirms it!
In the update section, as usual, I make smaller timeframe updates to get better and faster understanding where the price is heading!
To get updates - click the FOLLOW button and don't forget to LIKE, unless You don't appreciate it! ;)
Thank You very much!
Since 25.06.2018 BTC has formed several higher highs and higher lows which in turn has created different chart patterns. At the moment I have drawn in the chart one widening channel upwards (clean and clear higher highs and higher lows) and the "Ascending Triangle"
We are a very top of the price range, here is the decision point where we want to go in this week!
On the 1h timeframe we have a very strong resistance area at $6780, at the moment 13 attempts to break this level but no success yet, all attempts are failed!
If we look closer those chart patterns - we have mixed patterns on the same price level! There is a little bit sloppy but still "Ascending Triangle" which indicates bullishness and we have a continuation pattern (the bigger trend is down) "Rising Wedge".
So, breakout either direction is due to the pattern and the pattern confirms it!
In the update section, as usual, I make smaller timeframe updates to get better and faster understanding where the price is heading!
To get updates - click the FOLLOW button and don't forget to LIKE, unless You don't appreciate it! ;)
Thank You very much!
Nota
In the 15 min. chart we have the lowest candle close since yesterday which will indicate a little sellers 'pressure' but our magic support is close at $6666. This have to be the first takedown level if we want to confirm sellers pressure! So, let's watch this level closely because there is also our blue trendline! At least 1h candle close below those levels will realise bearishness! To be continued! ;)Nota
In the 4h chart, we have a massive bullish hammer!25 min. to candle close!
Hammer candlestick pattern + close above the short-term trendline! So, we have started to collect some bullish signs! Close confirmation needed!
Nota
Nota
Stay still, stay still 15 min candle bounced quickly back below the blue trendline!Nota
We didn't get the minor confirmation, we are back below the trendline but soon we will see some action because this triangle tip is very close!Nota
UPDATE!!I adjusted a little bit the smaller triangle upper trendline (green) and there is three confirmation boxes for short-term BTC movements!
Green box confirmations:
1. We need at least 1h candle close in this area
2. We have a candle close above the smaller triangle
3. We have a breakout from "Ascending Triangle" (bullish pattern)
4. We have a candle close above the super-strong resistance level at $6780
Note that, if we break this super strong resistance then this would be a very strong candle upwards (long candle), definitely we don't beat this level with those small 1h candles, we need there a massive volume ONLY then we could break this level!
Minor red box confirmations:
1. We have a breakout below the blue trendline since 29.06.2018
2. We have a breakout from strong support level the magic number $6666
3. And again we need at least 1h candle close in this area to confirm this
Major red box confirmations:
1. All those minor box confirmations
2. + breakout from rising channel (black line)
3. + break below the 50 and 100 EMA's
Note that, if we are in this major confirmation box then there is a strong areas below that - round number $6500 and support at $6420!
Hopefully this helps You out if You wanted to know some strong price levels with confirmations! See You tomorrow!
Don't forget to LIKE, unless You don't appreciate it! ;)
Thank You very much!
Nota
We have also a Bull Flag but this is almost too long to be the correct bull flag! So, let's say sloppy bull flag! ;)Nota
Good morning!"I love when a plan comes together" :D
We got one at least 1h candle close in this first red box area which means bearishness and now, the price is below that!
Also in the night we touched and bounced 14th time from the super-strong resistance level at $6780! Massive "Shooting Star" candlestick pattern and like You see we heading down already so those areas was nicely market! First support would be around $6500 if we break also this black trendline!
Nota
We have a close in this major red box confirmation area! The drop was so sharp that I think we might go and retest some higher levels but let's see what the price action start to tell us! Especially I look at the moment candlestick patterns! If we get close below the $6585 then it would be mean another 'leg' down! I keep You updated!Nota
BOOOOOM!!"We have a close in this major red box confirmation area!"
Looks like no retest :)
Yesterday I set the red bearish confirmation boxes and today our bearish confirmation boxes worked very well!
"I love when a plan comes together" :D
Nota
At the moment we are close to the $6420 support! Since July we try to break this level downwards the third time!Nota
Fibonacci level 70.5% matches with the support level $6420! So, possible bounce from here to make a little correction...Nota
We got our confirmations and we got our move again! At the moment just stay away from the market, let's collect some data from this price level and let's try to predict the new move with new confirmations!Just for those who can't enjoy the football world gup - next stronger support levels:
* around $6300
* $6210
* $6093
All the best to You!
Don't forget to LIKE, unless You don't appreciate it! ;)
Thank You very much!
Nota
Because I had some time :DSome candlestick pattern battle and breakout means at least 1h candle close!
Good night!
Nota
Hello!At the moment nothing remarkable on the market! Bears have tried to break downwards several times and find a support from $6300! So this is our next confirmed support. Break downwards guide us to the light green box. There is H&S and there should be the end of our right shoulder at $6100! There are also other bullish momentum criteria:
1. Fibonacci level 70.5%
2. Small red trendline second retest (breakout was 02.07 and retested one time)
3. Decent support area
4. Summary = Trendline+fibo+support crossing area!
So if we drop here then it would be the next short-term stop/bounce level!
But first, we have to break $6300!
Nota
BOOM!! At the momen by the book! Nice bounce from there ;)" Break downwards guide us to the light green box. There is H&S and there should be the end of our right shoulder at $6100! There are also other bullish momentum criteria:
1. Fibonacci level 70.5%
2. Small red trendline second retest (breakout was 02.07 and retested one time)
3. Decent support area
4. Summary = Trendline+fibo+support crossing area!"
Nota
Hello my dear followers! There is no updates at the moment because I'm on my vacation!
I'll be back at 23.07 and aftret that full throttle to the TOP!!!
All the best!
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