Bitcoin TA: May 22nd, 2018
TA from a trusted analyst:
My fractals chart yesterday gave you a general idea of how we expect BTC to move. Looking at the chart on the right (1H) we crossed the gold fractal comparison but we didn't go deep enough. This is ok because we see a bullish pin bar (large wick at the bottom small body up top of red candle). So this next green fractal is playing out just perfectly. This is the consolidation zone before the next red fractal where I'd expect that $8,000 level to be retested. Eventually I expect this to break and retest that strong buy range of $7,900 where we found a nice strong bounce few days ago.
On the left chart of 4H we've got the Stoch RSI bottoming but I expect it to lift only slightly and then head to oversold zone again. This gives room for the price to consolidate as mentioned in the green fractal for the 1H. Then we can head down again.
Again, this can all be invalidated if we see massive volume come in and take us above $9,000 and retest that $10K resistance. This seems unlikely right now thus I am confident to see my fractals pattern play out.
@quantalysus this is very nice time to invest and beauty is that how you explain hope it grows more Thanks for sharing dear.
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Good analysis