Good old trusty Bitcoin . It might have its mood swings and make us loose sleep night after night. But at the end of the day it always wants to go up.
Look at how Bitcoin spent 2 days crawling up, slow and steady, out of the dark downtrend dungeons of despair. Now it finally reached the top of the channel. On the other side of 9,500 USD is the ultimate freedom and daylight. But the hatch is closed! Locked shut!
One attempt to break the door has already failed, but Bitcoin is strong willed and quickly gave it two other hard kicks on the stubborn door. Still not giving in, but the lock is weakening.
Bitcoin is running out of power now and there's nowhere else to go inside this channel. If it can't summon the strength for one last super punch that will grant its freedom, the fatigue will surely throw it back down into the darkness.
Which one will it be?
TO BE CONTINUED.......
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No filter. We are back at 9,000 USD now. Quote from earlier:
But let me just throw it out right away. Even though D4 is still super bullish on BTC in the long run, D4 would be surprised if we manage to break out right now. I think it's too early after the Mt. Gox and Binance situation.
We are now back in the descending triangle, and we will most likely go even lower again.
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2 days ago D4 tried to explain to you guys, how scenarios and patterns usually will take form under these circumstances.
As you can see, that is exactly what we are seeing now. As you can see a HS Pattern is in creation. We just miss the right shoulder. Because we are caught in a descending triangle it will be hard to make 3 higher highs.
Sooner or later we will probably have to go down under 8k before we can go into a reversal.
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As you can see everything is going according to my predictions I made 2 days ago. We have been moving back and forward in the descending triangle, and the head and shoulder pattern will probably soon be finished.
It seems we will go a bit up for now. Look at the RSI and the bullish MACD-cross. A bull flag is also there.
BUT we will most likely soon go down again due to the downtrend resistance line and the lack of trust in the market at the moment.
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This will be very exciting to follow! :)
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PS. Please guys, can you tell me if you get notifications? It seems like there are problems on TradingView. I can't publish new charts and my employees here on the office don't get my notifications when I update.