Bitcoin - Volume Outbreak is near, indicators consolidating!

Up and down Fibonacci retracements in chart, I think this favours up but market can be unpredictable.

Komentarz:

Zlecenie aktywne:

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 :)

Komentarz:

Also check out the Volume Flow Indicator, near ATL range and broke down.

Komentarz:

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.

Komentarz:

The yellow lower line of this trend channel should be next support while breaking down, below will get quite bearish (4800-5600).

Komentarz:

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

Zlecenie aktywne:

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.