BitcoinAtualizado Bitcoin - Volume Outbreak is near, indicators consolidating!
Up and down Fibonacci retracements in chart, I think this favours up but market can be unpredictable.
Nota
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Keep your eyes open on 11 and 18 June!! 11 June seems to correspond both to a time fibonacci extension in my chart as volume consolidating in the triangle. Get ready, join the momentum outbreak up or down :) Nota
Also check out the Volume Flow Indicator, near ATL range and broke down. Nota
So volume broke out, down the triangle and nearly hit the 1.618 down extension (reason why we see price halting to go down at the moment). We could see a retest of 7030 but since this is only first wave down after break out with quite some volume I'm expecting 2 more waves down.Nota
The yellow lower line of this trend channel should be next support while breaking down, below will get quite bearish (4800-5600).Nota
I removed the wicks so we get a better understand of full candle range and trading (they better reflect what the general trends agrees on). This is a bullish wedge, but still need more time to consolidate at you can see (in logarithmic scale). Would be bad and invalidate it if we break below 6100, turn more bearish. I will long bigger time if we break out above of this wedg, which would be above 8600
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Is this wedge valid? Well basically any wedge drawn from multiple data points on a line is a valid one. I take 2 top and bottom points which have significance reversal momentum, they are on a regression line so in the future this is where people will sell or buy, if they break it will have a significant effect on the regression of the line and become more bullish or bearish depending if it breaks above the top line or below the bottom line.
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As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.