The week is not ended yet. Sunday, when the last candle would be bompleted, we would say much more. At this moment it does not look like (yet?) like gravestone doji. BTW, I suggest to look at the chart Bitcoin related to Gold. That chart suggest there was no any (fake) breakout and candles go from lie to line... I use sometimes comparison to Gold as after money printing the Gold is real money, not U.S. Dollar...
ElTrapo
⋅
I feel the same as you but we should be careful and wait this weekly candle to close before saying it's look like the previous candles you circled.
UnknownUnicorn6361929
⋅
@ElTrapo, Of course. I just warn/Inform that at the moment is dangerous candle. Even if it increase the price 9800, the candle remain the same. Very dangerous.
Bulls need to bring price again above 10250 to change this candle. They have very difficult job to complete.
ElTrapo
⋅
@MrsBitcoin2020, Indeed ! Maybe the stocks that is recovering way too fast from covid pandemic will help the push above 10250 though ! That' what make me think it can still go up, otherwise i'm 100% with your idea...
liffe_
⋅
Your graphic and interpretation are very correct. The tendency is to consolidate again backwards and signal a bearish trend. Even so I think we will go up. Why? There are some other factors playing in, which could finally make a break-out up without this corrections. And consolidate the bullish trend. One of them is the ~9500 test line from April until now that already had many tiny pullbacks (smaller than I expected but OK) and one recent fake breakout. Maybe, less than 30% chance, that now a real bullish breakout could happened, if it consolidates well in this ~9500 region. Otherwise, if it follows your trend path, the prices will finally have the correction they are longing and denying to accomplish. 7 times it tested and came back. With everything that is in place now, maybe it's time to break it upwards. The momentum is here. Let's wait and see how it will play-out.
UnknownUnicorn6361929
⋅
@liffe_, We already started the bearish trend from the moment we fall from 10300. As you can see the above is weekly time frame. If you turn the chart hourly is very visible the downtrend and at the moment is on wave B. Based on this i expect also an upward movement maximum 9800 where and it will touch the uptrend of the falling wedge. Then i expect the Wave C which it will drive us down....Now how much down this we will see it in process. I agree that 9250 - 9500 is a strong support area but the downtrend that is in process with wave B, seems very aggressive to me. Now it will be ABC? ABCDE? It will show also. Based on which waves it will be, it will be equal and the range of correction for me. Anyway, as you said, lets see how it will works. This week is very important in my opinion. Thanks for message.
liffe_
⋅
@MrsBitcoin2020 absolutely agree. Thank you for the great charts and the insights.