what about the bullish SFP ?
$BTC 1W (10/14/18)
∙ Bearish engulfing.
∙ Notice how each successive top was marked by a rejection from the open of the previous top. That makes 6500 a key resistance level to watch.
∙ 6100 is the key support as price continues to wick below it but close above.pic.twitter.com/fEUmLb8zrn
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Not an SFP. Would have much more credibility if the 5800 or yearly lows stops had been taken.
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Long then
End of conversation
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Yes, I would short
$BTC yearly lows. In fact I just did. It is now trading below Sept 8 levels and broke trend line downwards. These lows might be next year's highs.Thanks. Twitter will use this to make your timeline better. UndoUndo
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I don't think we will reach 6500 anymore, make a trendline from the last drops and u will see the drops are pretty easy to spot, and 6500 almost isn't in play anymore since the trendline is already there... don't like to chill, but i got an image in my feed if u want to watch it
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It's of bad quality though, i don't normally post anything xD
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Great observation. Just curious - does the previous week need to be a bullish candle to consider it a bearish engulfing, or were you just referring to the two first local tops? Keep up the great work!
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It doesn't matter what the previous candle was so long as it's "engulfed".
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Do you know if there is any connection between the number of candles that an engulf covers and the amount of follow-through afterwards? I can think of logically why there might be one but I don't actually know if its a thing.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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