As everyone else has tonight, I will also give my "fair and balanced" analysis of our wonderful pioneer. In short, as you can see on the chart (4hr), a perfect storm has been brewing. We have a beautiful inverse head and shoulders with the peak of the head being the floor a few weeks back. Or at least the most recent floor. Needless to say, from that point you can
see the bullish trend line. What most ideas posted have not stated however is if you take a closer look you will see the amount of "HIGHER HIGHS" supersedes the "LOWER LOWS". This includes the head to neckline movement on the H&S. For those still learning, as we all are, this is a good bullish indication. Then, of course, the turn at the top. It peaks through
the top side of the band and starts into a downward trend. But again, although a retrace, it is aggressive as it continues to test on the way down (Also a bullish indicator) forming a beautiful flag pattern. As you can all see, it is currently on the rise bouncing off the lower band nicely. My expectation on this extension will lead us to around $13,000-13,500 mark before
showing any type of stall. Of course, this is a long-term look ladies and Gents. Keep your emotions at bay if you see a red candle. One disclaimer on all this. Bitcoin is the boss, and as the boss you usually take all the heat. So don't forget about your ecomonic trends and news in the near future as shown above. These events do have influencing power on the big guy.
Good night and happy trading!
V/r,
Auxilium Investments
see the bullish trend line. What most ideas posted have not stated however is if you take a closer look you will see the amount of "HIGHER HIGHS" supersedes the "LOWER LOWS". This includes the head to neckline movement on the H&S. For those still learning, as we all are, this is a good bullish indication. Then, of course, the turn at the top. It peaks through
the top side of the band and starts into a downward trend. But again, although a retrace, it is aggressive as it continues to test on the way down (Also a bullish indicator) forming a beautiful flag pattern. As you can all see, it is currently on the rise bouncing off the lower band nicely. My expectation on this extension will lead us to around $13,000-13,500 mark before
showing any type of stall. Of course, this is a long-term look ladies and Gents. Keep your emotions at bay if you see a red candle. One disclaimer on all this. Bitcoin is the boss, and as the boss you usually take all the heat. So don't forget about your ecomonic trends and news in the near future as shown above. These events do have influencing power on the big guy.
Good night and happy trading!
V/r,
Auxilium Investments