BTCUSD / H4 / 78.6 Pullback Again?

2019年8月12日

If you remember our last idea about BTC, we saw a pullback towards 78.6% Fib retracement and went short for a handfull of pips. We have again really similar setup ongoing with price touching 78.6% and going down + supportive trendline break and we could see the price dropping further and even below recent lows around $9k ish.

At this moment it is important to watch $11.600 level, if we break it to the upside we could see one more test of $12.000, if the price can't break that level, we will see further downside.

Previous analysis :

2019年8月16日

註釋

We saw a nice drop in BTC. Price is currently supported by 78.6% retracement of last bullish move at around $9.800, if we take down this level next support is $9.000-9.200

If price goes and manages to stay below $9.000 than we could see further drop down towards low $7k area, where also 161.8% extension target is located, but for now let's focus on $9.8k and $9k

2019年8月21日

註釋

So after another pullback and creating 4th lower high, we are seeing some drop in BTC price.



As of now, this green Trendline is acting as a support. If we break it, we should see BTC flying down towards $9.050-9.300 demand zone, but at the moment I simply don't see that zone holding for too long. We could see bounce from low $9.000s to retest broken Trendline, but chances are small. In my opinion, there are bigger chances to see immediate drop into $8.400 area, which is next zone of demand.

2019年8月29日

註釋

Daily breakout confirmed, and we hit $9360 zone with absolute precision. Now if we see daily candle close below $9360 we are indeed heading lower towards low $8k zone.

2019年9月6日

註釋

We'll try to take the short position here, although reduced due to the high risk, but I will never miss this kind of RR for the trade.

TP1 : Around $9.300
TP2 : Around $8.200-8.400

SL : Slightly above $11.150

2019年9月6日

註釋

Insane :D

2019年9月6日

註釋

By the way, stops are in profit on BE.

2019年9月24日

交易結束：目標達成

We waited a long time for first target to get hit and then BOOM in the same day both targets nailed.

We are now waiting for further movement, staying clear for now.