BTC moment of truth

10 Okt 2018

Today BTC will make a move that will show nearest future. It has been moving in this triangle for a while and now it cam to a cross with descending trendline coming from 25th of July. Trendlines are not so strong as horizontal SR lines but I noticed they act as SR lines as well in case they are based on some major ATH point. So today price went down and touched triangle lower border as well as green trendline. Bounced back up, but so far no one can be sure if it finished falling or not. I've marked some targets both for bear and bull situation. Trade safely, keep an eye on BTC and have tight SLs as you know how this bastard moves - with long long candles crushing all the longs/shorts on its way.

Day chart for overview of lines and situation in general.

11 Okt 2018

Catatan

So the worser scenario took place. That volume was biggest since 5th of September. Chart shows price may fall deeper and touch 6100 again (and even lower). On the other hand this 10x selling volume can come back as buyers at any time and lift the price very fast so it may go up to 6750 same way as it fell.

11 Okt 2018

Catatan

On the last chart screenshot I've added parallel channel. Best if BTC don't break it down.

15 Okt 2018

Catatan

Great example of how FUD can influence the chart. Scam coin Tether proved it has very weak reputation as people dumped it as soon as possible. Hopefully this increase in BTC price will help it to recover and go bullish.