(SHORT TERM FOR NOW)
Obviously another triangle pattern emergine on the obove this is an a 15 min time frame, its is definitely worth keeping
any eye on any trend and macd looks like its about to go bullish again the 10/21 ema looks strong for now watch for
any bear traps if we fall out the bottom of this triangle usualy on the 4th touch of the bottom of the support in blue
we will get a nice bounce wchich in a Vbullish market will break through the resistance and if it does not.
We will possibly go through the bottom of the support but just watch that this does not turn into a trap like yeasterday
we fell through the suport which is part of our triangle trend line, but it bounced to me looked like a trap sellers would
have panicked and sold off some BTC when we broke through the support yesterday only for it too bounce again and
go right back through the support and resistance line and sit on top of it, what we are seeing looks like a simple elliot
wave ,1,2,3,4,5 then onto an ABC correction.
Now there are many ways you could count this on many different time frames, but as we have turned a corner with
regards to btc i believe this is a VBullish market at the moment and there is proof of a lot of sideways movement which
was to be expected yesterday, same thing today but we are still following the same pattern of a bullish triangle with
the support and resistance zones acting as they should you can see the Macd & EMA are following this pattern as we bounce
of the resistance just watch for the 4th touch on the support line see if we break through the resistance in red once we
touch for a 4th time.
This does not always play out like this and bears will make it look like we are going Vbullish falling through support just
like yesterday people need to wait for many confirmations this post will be updated with News and longer perspective
of what is going on.
I personally did not expect the market to turn so bullish it was following the last long term pattern we posted exactly
then there was a huge buy too weed out any of the shorts they would have missed out big time, the wales are here
and its obvious to see.
(Updates will be coming later the above it on a simple 15 min time scale.)