Bitcoin's Weak Rally

3 mai 2019

Well, here we are, the bulls are euphoric at resistance...again. Crowd psychology never changes and peopel tend to become irrational right at the wrong times. So, I am betting our top holds for now and we get a move down to test our first breakout zone. I belive firmly we will retest the second breakout zone at some point I just don't know when. If bitcoin explodes higher on heavy volume I will admit defeat. As most of you know I am often wrong and that is ok. I am here to learn, discuss and try and become a better trader. I hope you all are here for the same reasons. Thanks to all the loyal likers and commenters out there, knowing that a few people are looking at my work and following along is encouraging. Have a great weekend all and don't forget to drop a comment below.

Peace

3 mai 2019

Note

for some reason in the orginal chart I am not able to see the wick that forms the starting point for the bottom of the channel so here is a screenshot at a lower tf

4 mai 2019

Note

Expecting something like this to play out if we are to continue down. Chop in yellow, retest red and nuke to green...so far so good on the overall picture

4 mai 2019

Note

Well the red box did not act as resistance this time..however we are still channeling but just barely. The markets seems to want to go higher but I haven't seen the volume come in on the latest push. Bearish divergence could begin to come into play. If we break out of the channel I will close the thread, until then it remains open.

GL