in bitcoin •  4 months ago

Screen Shot 2018-09-11 at 9.20.53 am.png
Look like some bounce and support on daily inverted hammer and little bullish candle but could very well be a bull trap or short seller covering their profitable positions. On weekly pattern, bearish engulfing likely for bearishness to continue. Some whale continue to unload partially. Possible test of the resistance level around 6500 for some bulls to jump and more short covering. Maybe hitting 6500 zone will entice the bears again for some actions again.

On hourly still consolidation within the downward channel, possible symmetrical triangle forming waiting for mini breakout. Ultimately, still depends on the whale vol movement.

Screen Shot 2018-09-11 at 9.21.54 am.png

News: (Current) | (Upcoming) CBOE BITCOIN ETF, 30 Sep 2018 (may be extended again up to 240days)
| G20 FATF, Oct 2018
Short term moving average (day candle) : downtrend gap wide
RSI : -
Network Value to Transactions Ratio : 180+
Bitfinex Margin Long/Short Volume Ratio : 0.690
Depth Chart : (S) | (R) -
Weekly Timeframe : -

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Disclaimer : This is not financial advice, it's all based on my personal biased opinion. Do your own research and put in the amount you can afford to lose.

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