BTC - More Bear-flags / Pennants....

18 พ.ค. 2018

Don't fall for the little Bull-Trap the Market is offering you right now. We're just in another Bear Flag / Pennant.

Unless we make a short-term strong Bull move to circa $8350 very soon, I'm expecting more downside to $7800 over the next 12-24 hours.... then we'll re-assess things.

Good luck out there :-)

19 พ.ค. 2018

บันทึก

Our Bear-Flag has turned into a Rising Channel up to $8280 (Gemini Exchange). There are a few Bullish Indicators, but they're not convincing, IMH0.

We're still at Lower-Highs until we get a solid break and confirmation above $8350.

I'm more concerned with:

- The Rising Channel
- lack of Bull Volume - especially above 8095
- Lower Highs on the 4HR
- Almost four consecutive Lowers-Highs on the Hourly since $8279 was reached.
- Most recent 4HR Candle forming a Doji showing 'indecision' by the Bulls around the $8230 - $8280 price-point.
- And that we're going in to Saturday where we can see a slight sell-off on Saturday afternoon (California time) because the Market is showing indecision. Therefore, there could be a proportion of Traders would move to Fiat or the like over the weekend.

Of course, I could be wrong... Good Luck out there! :-)