BTC/USD Crocodile pattern forming. 2018.07.26

in bitcoin •  4 months ago

1 hour candles

As you can see on the hourly candles we have a very clear huge crocodile pattern forming. The crocodile mostly swims sideways and will sink their teeth into bears and bulls. This is going to scare both bulls and bears, keeping everybody on their toes.
crocodile.PNG

Disclaimer:

This information is to record and preserve on chain my observations of this technical analysis system, I do not advise making trades with real money from this information. You may lose your shirt or other spurious items of clothing with a possibility of starvation and death if you trade on this information.

Practice accounts can be created for free at https://testnet.bitmex.com/register/ORWC8y

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Hello k3t3r!

Congratulations! This post has been randomly Resteemed! For a chance to get more of your content resteemed join the Steem Engine Team

@k3t3r if ETF get approved then it can swim and come to bull but if not thenit can sink. But nothing is sure in this cypto market.

·

even if ETF gets approved who knows. I think making predictions is the wrong approach to the crypto-market. The best approach is to have a prepared strategy and react to moves which ever direction.

After price was rejected at $8,500 two days ago, it has since struggled to determine which direction it will head next. There has been lots of speculation for downside and upside potential but neither have yet been confirmed. With the amount of speculation of the bull run activated, a large amount of money has been since invested into Bitcoin, being the most likely reason price has been able to hold fairly steady and reject a sell off or a major push higher.

On the 4hr chart it is obvious of a base that formed at $8,100 where price has previously found support/resistance which allowed price to bounce steadily back to $8,270. This small base and steady bullish movement away from this area could be enough to result in a retest of $8,500.

Screen Shot 2018-07-26 at 5.14.43 pm.png

·

good analysis, just beware of the crocodile.

@k3t3r yaah thats nice analysis.
Hope the bull countinou.

I didn't understand the post please next time use less scary words.... :P

Hello, i just upvoted your post. Also, $10 - $160 Reward is waiting for you in GBYTE crypto, please
follow instructions in this post:
https://steemit.com/steemit/@cryptomonitor/airdrop-how-to-claim-tutorial-byteball-bytes-airdrop-to-steemians-hot .
Join our Discord & enjoy happy STEEM community: https://discord.gg/qQZ7Eng