Classic Falling Wedge

5 juil. 2018

This is my simple analysis. If you remove all thoughts of profit and loss, you're left with a simple falling wedge and a bright, innovative future. We may very well see new lows into October while this pattern completes. However, I do not believe in an extended future for this bear market.

24 juil. 2018

Note

BTC has broken the wedge and volume is beginning to rise as we head into resistance at 10k. Entering a long now may prove a risky, yet profitable move. Remember, the bear market is still in effect until we confirm a breakout above previous resistance.

Also, BTC has diverged ahead of alt coins which, to me, signals a change in market atmosphere. Usually this happens before and during major moves.

15 août 2018

Note

A failure in the red zone was not unexpected what with the uncertainty still looming over this bear market. Holding 6k is important to create a higher low for the magnitude of the next wave upwards but we do have support for a double bottom in the mid 5000s. It's still got a long way to go before reaching and surpassing 10k. Gaining ground over $8500 should put this market in a good position for the next bull run although we are still looking for greater volume.