[Red Apple] "just before dramatic movement"_BTC/USD_18.09.11

11 Sep 2018

BTC's being formed triangle pattern on 4H after drop to trend line. it's gonna showing dramatic movement soon.

If you are busy, you can just read below briefly
'A. Briefing '
'F. Summary and Strategy'
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A. Briefing
. Supported by trend line
. Triangle pattern on 4H

B. Weekly Chart

a. Candle
Bearish Engulfing Candle
b. EMA
Dead Cross between 20EMA and 50EMA
c. Pattern
ab=cd
d. Sum.
There's Bearish Engulfing Candle and EMAs are crossed. these factors suggest additional drop. Even it goes up, it is hard to expect Bullish before Fib.0.382($6614.5).

C. Daily Chart

a. Trend
Supported by trend line
b. Candle
possible to be formed 'Falling Three Method'
c. EMA
in reverse
d. Sum.
Supported but weak rebound

D. 4H Chart

a. Trend
Lower High Lower Low(Dow Theory)
b. EMA
in reverse
c. Pattern

Flag -> breakout down-ward-> Box -> breakout down-ward -> supported trend line -> re-entering box -> triangle
d. Fibonacci

important to break box
e. Sum
At the moment, BTC is moving into price convergence and soon it is going to show big movement. or after breakout, it can be formed rectangle as well.
if break $6550, it is positive signal.(becomes higher high)

E. Summary and Strategy
Take position as result of convergence and keep thinking about moving sideways.
if break the pattern up-ward, buy BTC.
if break the pattern down-ward, wait until long-term trend line(not short-term, it can be broken short-term trend line in this time)
if it goes up, 1st target will be over$6550 and 2nd target will be $6614.5.
Actually, quite simple situation.

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If there's something special, 'll comment in real time.

Thanks

11 Sep 2018

Catatan

Touched upper side of the pattern. Check whether candle on 4H is closed over the pattern or not.

11 Sep 2018

Catatan

For your reference_
Bitcoin Dominance :
2nd) BitMex
3rd) Bitflyer
11th) Bitfinex

11 Sep 2018

Catatan

At the moment, there are 'Hidden Bearish Divergence'. if BTC goes up over $6458.9, it become invalid.

11 Sep 2018

Catatan

This is the end of my idea and comments
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THanks :)