Hi, this is just an update on my previous two posts (see links below).
I've mentioned this inverted H&S for some time. It's true that the time frame isn't the largest, but there's a possibility of bullish momentum around the next CBOE maturity date (which coincides with the Chinese NY).
I explained this in an YouTube video I posted this morning, but those are just the details. The main takeaway is
btw, 12K is also the neckline of the H&S from ATH.
評論
⋅
I'm a little uncertain whether we have a breakout.
Above 9.5k would be certainly a breakout.
If breakout is confirmed, a rally could be very fast b/c CBOE.
評論
⋅
one thing that troubles me is that it seems all the "top" posters here have become bullish again.
perhaps a retest of the ascending triangle may be forthcoming.
評論
⋅
Send to be the Chinese New Year rally
評論
⋅
Seems
評論
⋅
btw, the previous support was 10.3. I think 10.3k is the highest it could go today
評論
⋅
Really didn't pass 10.3.
Right now small correction. I expect 9.5 to be a support. Can't see it going under (or too close to) 9k.
評論
⋅
I made another YT video explaining that we're starting to turn bullish --- not having a bull trap. I think 11k will see some resistance, but 12K+ will be achieved by Mar.
exactly all of a sudden everyone is a bull. bad sign. im still short on this thing.
DrJLT
⋅
@venturetrade, I've been bull since some days (as you can see from my last three btc posts). but now I have to be careful, too. I don't think it'll crash again, but it may just retest once more & shake off some weak hands
venturetrade
⋅
@DrJLT, to me it's a giant bull trap that been developing for several days and today this volume is a fluke. and i am watching this. on a 4 hour i expect retracement but on a daily chart i think of a selloff
DrJLT
⋅
@venturetrade, I don't actually agree, but we'll see. can't be a bull trap at the bottom.
venturetrade
⋅
@DrJLT, yes that's the only thing that is different.
venturetrade
⋅
@DrJLT, but realize that bulls just only now started to come in
DrJLT
⋅
@venturetrade, yes, today they got some excitement. before it was all gloomy even though many coins have recovered / started recovering.
I think the problem is that people think once it's not bearish 20k can be reached in a week. More likely it'll take months with lots of ups & downs
gusccbb
⋅
Hi, tks for sharing . One doubt that arises from the graph is does not break up the neck line and leaves the right shoulder pattern, you can have continuity on that line conforming another figure of smaller MSM supporting on EMA 50 and that from there is generated the break up? Or do you have some other implication that I am not detecting?
DrJLT
⋅
@gusccbb, not sure I understand? no breakout yet. just hoping for a breakout soon
gusccbb
⋅
@DrJLT, Thanks for your answer. I see that you are optimistic about a break that takes us to a higher level. My query, a little confusing perhaps, is if the formation of the right shoulder is maintained that could end in a break or has begun outside that right shoulder a new formation that would take more time to complete.