Bitcoin (BTC) Evening Update: Yin & Yang

in #bitcoin • 7 years ago (edited)

SUMMARY

Japanese Candle Stick analysis method has a price bar called a hammer. This type of price activity is shown as a price bar with a short body around the top. The chart below shows a green hammer price bar which signifies a type of a bottom is being "hammered" out. I don't often use this technique, but do notice these hammer price bars and it's quite opportunitistic to see one on the weekly chart. As there are still a couple more days to go towards a completion of the week, the price bar could still be altered with lower lows. However, thus far, it looks as if a correctional bottom is beeing sought.

The below provides some didactic details on the Hammer price bar pattern.

The 60 minute chart shows a potential upward pointing wedge and that a pull back during overnight price movements is likely. Whether this would erase the gains made thus far is unlikely; however, a minor correction could be due.

Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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#money #cryptocurrency #blockchain #altcoins
7 years ago in #bitcoin by
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     7 years ago  

    why all reply are closed?i not get i cant reply in haejin thread or what can tell me what up here ?

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     7 years ago  

    maybe because there were bot accounts?

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       7 years ago  

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         7 years ago  

        thought i would share this as well guys...the right shoulder volume seems to be lower than the left and head..also it broke out of the neckline and then retested...we shall see friends

        https://www.tradingview.com/x/00poeuHJ/

        [-]
         7 years ago  

        It looks to me that’s the bullish impulse has been invalidated at 8580... so that was an ABC now the bearish impulse of wave 5 of wave C have started.

        What’s the target? Between 4000 and 3,000?

        [-]
         7 years ago  

        I love your posts, I always learn something. Thank you for taking the time to provide such clear charts and graphics. I hope you are right that BTC has found a bottom, but I noticed something today: all of my alt coins did better than BTC did (except NANO). I wonder if there is a separation of the crowd from the leader?