Bitcoin (BTC) Evening Update: Yin & Yang
SUMMARY
Japanese Candle Stick analysis method has a price bar called a hammer. This type of price activity is shown as a price bar with a short body around the top. The chart below shows a green hammer price bar which signifies a type of a bottom is being "hammered" out. I don't often use this technique, but do notice these hammer price bars and it's quite opportunitistic to see one on the weekly chart. As there are still a couple more days to go towards a completion of the week, the price bar could still be altered with lower lows. However, thus far, it looks as if a correctional bottom is beeing sought.
The below provides some didactic details on the Hammer price bar pattern.
The 60 minute chart shows a potential upward pointing wedge and that a pull back during overnight price movements is likely. Whether this would erase the gains made thus far is unlikely; however, a minor correction could be due.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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why all reply are closed?i not get i cant reply in haejin thread or what can tell me what up here ?
maybe because there were bot accounts?
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Dead post! Improve your content and everything will be fine!
No, it's the trolls again, downvoting. Content is just fine.
can still be a bulltrap ?
Till now everything is pointing to a reversal: breakout of the triangle formation, a big increase in the volume and a hammer being formed in the weekly chart. But I think its still very early to say for sure. The next days should give us a better view
Lol about the lambo comment :)
thought i would share this as well guys...the right shoulder volume seems to be lower than the left and head..also it broke out of the neckline and then retested...we shall see friends
https://www.tradingview.com/x/00poeuHJ/