BTC CONSOLIDATION / UPTRENDCHANNEL BOUNCE

18 Feb 2018

So we have had a very crazy bullrun the last few days, but the steam has gone out.

We are now in a consolidation phase, I predict that we will go down to the lower uptrendchannel and pick up momentum from there
since the 4hr RSI is pointing downwards.
We might break out of the downtrendchannel which started at the ATH.

My buytarget would be 9.3k and I will update if anything changes.

19 Feb 2018

Catatan

consolidation phase is over. we're going back up

20 Feb 2018

Catatan

we've hit the daily 50 SMA and are waiting for the price to close above it.
if that happens we're in for more bullish price action

20 Feb 2018

Catatan

wow. the daily is probably going to close under the 50 day SMA. looks like a bulltrap. wait for confirmation

22 Feb 2018

Catatan

so the daily has turned into an evening star and bulltrap. this means the next few candles are going to be red. the wave to the bottom of the trend channel didn't go down as I predicted, but the pattern just got moved up to the evening star
Depending on how this week will turn out we will either see a reversal at the the bottom of the green uptrendchannel (9.900), fib0.618 or fib0.5 line.

When this happens we might form another Inv H&S pattern. if these levels don't hold you should panic because the weekly candle is going to be a graveyard doji

keep a close eye on the volume at these points.
good luck trading