Lately I've been staying away from the charts a little more than usual as Bitcoin has been leading the decision for the high marketcap coins up or downtrend and I think it will remain so for a good while to come. Essentially this is great news when we're in a bull market, but when its choppy or a short term bear market, the negative impact on prices is equally evident and in my belief more so than ever, since the recent rise in the cryptocurrency market capitalization.
The BTC 6hr chart is still performing as expected, giving us the thinning wedge, it loves to let us anticipate. I think the market feels the need to test the line of support a little more, before continuing on a steady upwards path to test the 3000 USD price. I'm currently looking at all time frames but my most important for the short term, remain the 6hr, 12hr and 1day.
6hr:
12hr:
The 12hr chart has a good indication of where the price might fall to for a retest of the cloud lip, before climbing back up the edge of the cloud. I'll be watching the 12hr by default for the next few days, and the 6hr and 1day to confirm or deny indications of price movement.
1day:
Happy trading, but use those stop losses! I'm posting an update on a two piece abstract canvas, so keep an eye out for that later today!
Thank you for taking the time to read my post. If you think it is worth your upvote and resteem I would greatly appreciate it! You can follow me if you want more content similar to this or are interested in abstract psychedelic art and my general de-banking journey as I walk it. Lets start a conversation in the comment section.. let me know what your thoughts are :)
Peace, Love and Light.
Mark