Check Out This BTC/USD Chart.
hammer=reversal bar aka knocking out a bottom
inverted hammer over support
beautiful to see.
is the bottom in after the pullback?
we previously had a reverse head and shoulders price pattern completed as well.
lots of signal folks.
happy trading
Hi @ rustysmetals
I think this inverted hammer and hammer these two type dozi formation
it totaly market uncertainity .. I thik this time Bitcoin might be some may in consolidation mood.. Am I right brother???
both are reversal bars. knocking out the bottom. you can see the next day opening above support. the t3 8
and the first hammer top. anything can happen of course but it is a good signal
Lets see but In my view it going to bear trap again!!! may broke 5900 level also...
I don't think sentiment is low enough to declare a bottom yet. This stupid ETF business is keeping bulls in while we need them to give up. This is what happened in the '14-'15 bear market. In other words, being contrarian as a bull, isn't edgy yet. ;)
Hi @dexterdumb
I think this going to another bear trap soon... and might broken 5900$ level also..
what do you think ??
Never know for sure but I think $5,900 is in the future certainly. Additionally if $5,900 is possible then the next stop is around 5k. No way to tell if the bears are still driving at that price to say if lower is possible. I love all these hucksters that are calling for 3k or even 1k already. They have no idea what they are talking about.
showing support here. we will soon find out.
reversal bars are important signals. we will see.
TA is frustrating for me. I'm just learning about basic patterns and signals. I think you analysis is spot on but I look at everything from a long term level. I find it much easier to put money and research into companies you really believe in, rather than try to trade the market. I heard a stat that %95 of traders actually lose money!!
here is the weekly chart a much stronger influence to direction. you can see a possible turn. weekly charts also take much longer to show signals. so the daily chart i posted earlier needs work still to confirm a reversal
So it looks like the bottom of the upward channel could be lower. Say $4500, worst case scenario, and your signal is the green hammer thingy right?
i see the red line that could cross the green signaling momentum change on weekly chart.
Oh right! Thats the opposite of a "death cross" or something like that right?
im not using the 50ma over the 200ma. white line is 34sma red is t3 8 and green is t3 13.
Never heard of t3. What is that?