BTC 10k Test

Another chart for you!

-4Hr chart shown above shows a weak bullish signal coming as long as 9.4k holds through tonight and most of tomorrow.
-10k Lines up with the top of the cloud, I could see a poke above 10k but a quick reversal following it as the shorts pick up interest.

-BB's on the 4Hr I think will help force BTC into a channel as 10k proves hard to break. The middle and upper bands lining up with 9.4k and 10k. I think the Lower band will eventually pull that price down and help BTC find support around 9k.

Lets also throw a pattern into the mix...

I usually find that with patterns like the Gartley, price continues past the D point a little bit, and then eventually retraces down as far as the .618. Interestingly, the .236 lines up at 9.4 support. IMO, this adds evidence to the price testing 10k, a channel forming, and also the eventual breakdown of that support to 9k. This pattern validates all three of these at once for me. The most important part of this pattern for me is that it signals to me that the bull flag shown below will not hold the price it achieves, but retrace back down.

Here we can see the Bull flag. I am using the distance from the trailing blue line to cross the pole of the flag as an estimation of time for when the flag breaks out. The breakout should go to around 10.4k but as I said above, the push out above 10k shouldn't hold.

Basically, trading sideways until a break out to test 10k, fail, channel between 9.4k and 10k with an eventual break down to 9k support.

UPDATE

Flag breaks out early, lets find out how high this baby goes!

UPDATE

Rejects at 9.9k, and breaks down. 9k proving to be acting as support, although this may only be for a few hours before a possible further break down.

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Thanks for reading. Please follow @icee for only the interesting articles in cryptos, stocks, and other financial stories. Take what you read and make your own decisions. My opinions are only to be helpful, and not instructional. This IS NOT trading advice. These are only my own personal opinions.