In my education piece yesterday, I said I thought there were a lot of people trapped in losing positions up higher, some of them I think I getting frustrated and getting out. I actually predicted this in my fist BTC post on TV “If we break the 200 ema and close above I would expect a pretty quick trip to, 10,000 (The pink line) and then a retest of the 200 ema , a bounce here would see $12,000( The Black Line) in play quickly and then I expect consolidation between the 200EMA and 12,000 for some time.” So while I am not a psychic, its pretty good and we are now consolidating or ranging between the 200EMA on the daily chart and 12,000 (This area is shaded for you) Importantly the break down on the 4 H Chart (attached) has reversed above 9300 support, closed above the important 9750 level and looks to be stable. While it doesn’t look like a panic sell to me it does require me to be BEARISH/NUETRAL. I am under the 200ema (on the 4H Chart) and my previous support trendline. I will move the support line when I get two bars above my new low on each side. (Potentially next bar) but this is a technical move and my Bias remains BEARISH/NUETRAL.
For those looking to sell bounces off the 200 EMA (4H Chart), 10800 and the old Support trendlines all offer great chances to sell. I would scale out at 9750, and trail down from there.
For those looking to buy, I would buy now or on the break and retest of old support trendline. Targets are 11,700. My expectation is next we will revisit the 200ema on the 4H chart and then we will be watching closely again.
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Komen
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The quote i have used is from my post below
BTC/USD $ 2018! KNOWLEDGE PAYS BEST! ROAD MAP BELOW! $
If it goes to zero I'll by a million...eheh
Thank you for sharing. It will go down near 4.500 usd. We will see-
Thank you for sharing and good luck
DigitalData
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......... we are in a bull run. Please look at price action before posting absurd titles. 2/7 to 3/7 is a higher high and higher low WITH EASE. Do not mislead the masses. We are in the middle of a bull run once this candle closes.
vspectra
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@DigitalData, We haven't even gotten passed the 12k resistance to even get near a new bull run bro lol. A higher high and a higher low pattern can easily be broken. The title is also basically what's on people's mind who aren't doing any TA themselves. D&S hasn't misled anyone if you read the contents of his post.
@DollarsAndSenses, Lol you are trying to read a chart day by day candles. It's like trying to read the S&P day by day.. its just pointless. Look it from a week to week or month to month standpoint it will become clear what the future is for BTC which won't be down haha.
DigitalData
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@vspectra, You don't get it LOL thats the entire point. Go back on the 7th of every month and follow it forward. His title is beyond misleading. Its extremely obvious where its going because breaking highs and lows like you said is about to be a cake walk for BTC.
DigitalData
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@vspectra, "passed the 12k resistance". Things go in steps. They are called "re tests". Once completed (which they are) we can continue upwards.
rlreecer
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@DigitalData, definitely order the lambos one in each color
Thank you for sharing. It will go down near 4.500 usd. We will see-
Thank you for sharing and good luck