Relief Rally in Crypto
Hello Steemians! Looks like we have some kind of a rally in place in the crypto market. The rally actually started into Litecoin over the weekend and quickly spread into everything. BTC is trading above 3700 at the time of this writing
I am posting from the phone so chart quality will be less than ideal. Above is a 15 min chart showing higher high and higher lows with price firmly above VWAP which is the blue dotted line.
Above is a daily chart and we clearly see 3 green candles. This is the classic 3 white soldiers pattern in the Japanese Candlesticks. Does that mean the worst is over and it’s rainbows and butterflies. I have no idea; but it is a rally and I am buying this rally.
Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.
Charts are created in Tradingview.com, which is a free service.
Nice analysis my friend. hope this time BTC do not fall again.
and all other coins go up..
Things rise and fall. It is a process.
waiting for bull run my friend...
I suspect that this will hit major overhead resistance at around 4400, which coincides with previous resistance/support in 2017 plus the falling 50 EMA . This presents a good opportunity for a pullback and allows me to pencil in the head and shoulders formation.
This will be a major battle here, and unless we break above that level, the bears are still in full control and we could continue in a long term descent back below 3000.
please take a look at my recent post and tell me what you mean.
follow me for more crypto ideas.
https://steemit.com/bitcoin/@orphism/bitcoin-is-the-bear-market-over
We will see; I don’t predict any pattern as pattern often fail. If a pattern happens it’s good to follow it.
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