Bitcoin technical analysis

Here is what I would like the next 4Hr bar to look like

Hoping it’s a Breakout, not a fake out.
BTC/USD mad rally?

An Intra-Day Short BTC/USD trade I'm taking.

I'm Short BTC/USD

Diamond Pattern on BTC/USD

Watching for a possible long on a break of the top right trend line.

Closed Long

I'm shorting BTC/USD back down towards the Daily trend line.
Whether this is a fake-out or breakout rally, I am anticipating a trend line re-test.

Tight stop (above) weekly high so if I'm wrong I don't give to much back.

Short for 200 pips

Stopped out on last trade, giving it one more go SHORT
Anticipating a failure of an ugly H&S

Could be coming back to trend-line.
I'm switching to a LONG if price makes it back to my box

Price retested trend-line, not deep enough to pick me up.
Looking at new LONG entry.

Anyone else trading the channel breakout of BTC/USD?

I've attempted two re-trace entries (price didn't pull back enough), which suggests strong support for a continued rally.
Looking at getting LONG with a limit order back at 8550.

good call, this is actually playing out. 9,100 right now

Still bullish the BTC/USD trendline breakout.

.....doesn't mean i think it will go up in a straight line.

Possible 1hr H&S setting up.

BTCUSD. Fail of bulls = bearish sign.
Something has broken in #BTCUSD #BTC


As you can see, price is moving inside the bullish channel (4 dot-lines).

We had one consolidation (green square 1) during overcoming resistance caused by 9k and red line from long term bearish channel.
The second consolidation (green square 2) appeared around 9300.

Then:
[1] An EXTRA-HIGH volume wide-bar arisen (Van Damme style). Let's assume this volume is bullish. It could be a reasonable idea because of SLKB at the bottom of this Van Damme split-kick. In this bullish scenario, bulls charged an impulse to pump price to the new high ground (and attack 10k as the next step).

However:
[2] Price did not reach the top channel line A.
[3] Low volume up-bars call potential ND action
[4] Supply pressure after ND. This is a minor bearish change. And it happened soon after Van Damme kick. This is not a healthy sign for strong markets.
[5]. The minor bearish change did lead to a very deep pullback. It is too deep for strong markets.

So, Van Damme volume has a lot of weaknesses. That is why a high of the bar [2] formed a fake breakout above 9.5k (and above Van Damme bar).

What is now? Price is trying to bounce up from line C. Not very energetic (bad for bulls).

What is next?
In case of a breakdown below line C, #bitcoin price should reach line D as the next support. But the conclusion is not very positive. Because bulls had an opportunity to escape from the second green consolidation zone, but the rejected down again in it. Fail of bulls = bearish sign. And we need to assume a Van Damme visit as the possible start of some distribution range (zone of weakness - blue lines). Expect sideways churning between blue lines. Dominance is going to a bearish team slightly.

Consolidating in a rectangle.
I'm looking for Buy signals either at the bottom (fake-out) or at the top (breakout).

The development of price/time has changed the pattern for me, to a reversal Right Angled Triangle.

Price is not falling as quickly as I would like.
Moved SL to B/E, I don't want to see price spike up (which it has a tendency to do)

Here is an intraday chart
1] Market panic acceleration
2] Extremely high-spike of selling orders in a narrow range around 9100. Next bar - change in delta.
3] How price can reach this top if selling on 1+2 represents the real weakness? So 1+2 red clusters - hidden strength.
4] Market walked sideways as falling price found support.
5] This SLKT above the previous minor highs is a good chance to resume the downtrend. Come on bears? Show you real power.
6] SLKB. Not impressive. Only small penetration of the previous minor lows. Killing SLs of buyers, attracting buyers in a trap.
Now bulls have a chance to take control and build a sustainable rally.

Note also two lines of RSI. This is an interesting experiment:

1. pink line - is classic RSI on Price
2. Violet line - RSI on Cumulative delta.

When the violet line goes below pink [7] - it means a lack of bearish progress despite hard selling. This is a sign of support around the bottom.

Bitcoin needs to get out of the range