hey active
So price is boring and just moving sideways atm and its real frustrating cause all signs are pointing for a break of the line, but its like we are getting heavily teased.
(for all we know we could bounce here, but im still expecting my og target)
BUT, as discussed yesterday going through all my bearish scenarios for our current situation our $8,800 - $8,900 target has turned from just a bounce point to a critical junction point.
Now with all the head and shoulders forming, will we BOUNCE or BREAK ?
Here is a lil summarised chart from what i put yesterday (all those counts are still possible scenarios) so it would be better to go suss that out yourself in the actual post had way more detail :
https://steemit.com/bitcoin/@sourlemonball/btc-usd-bear-er-of-bearish-news-25-2-18
AS an add on to all these BEARISH views i have also found another much larger H&S that sits right on the danger-zone that if broken could lead us to our lower low.
If this is to play out we would see a bounce around $8,200 resistance creating our right shoulder, and then a plummet down... Now the target created by this H&S is.. $2,800 . BUT, the nearest fib resistance is $2,300 So a fall anywhere between there could be undertaken.
Just so i don't sound so bearish and depressing there is also a bullish scenario in the charts in the shape of a juicy inverted head and shoulders.
This also plays out perfectly if we are to get a perfect bounce off our of target of $8,800 - $8,900 that we have had on the table for a few days now, and will lead us to juicy gainz up to around $18,000 .
SO , just as we saw 12k get rejected last week, our critical junction is now the $8,800 - $8,900 region.
So now all we can really do is wait, i'm feeling so bearish at the moment but honestly who knows.. cause currently we are struggling to even get passed our $9,500 resistance strongly.
ill be watching price action closely at our $8,800 Region target, and seeing if we break or bounce.
For some reason i have a feeling we are goin down, so it is best to stay aware and not enter any longs until we see a clear uptrend of what in the world is goin on.
Gee me
Legal Disclaimer: I have no idea what I'm doing and I'm not telling you to follow me or make investments based on this information, this is just my thoughts and ideas and what ill be following. Happy Trading!!