#BITCOIN - This #HALVING Growth Is Endgame for SHORTS

2020年5月8日

The price is moving inside the big ascending channel. On its way upwards, BTC broke through the global resistance (marked on the chart) and took a hold above the one, which is a clear bullish sign.


However, now the price was stopped by the psychological resistance at $10000. At the moment the main support is located at $9530 level that still was not tested. Moreover, the price still didn't test the resistance of the ascending channel.

The ascending resistance is crossing with another strong resistance - $10500 (large cluster of Fibo levels) which should be reached right at the moment of Halving. This resistance can work as a magnet for the price, cause we need to test one. If this level is broken with the strong upward spike, we can easily see a $11000 level soon as well.

As soon as the $10000 is broken and the price start consolidating above it, chances of going lower to $9530 are decreasing while chances of going higher to $10500 are increasing. The market is bullish and purchases are in priority. Entering SHORTs now can be very risky.

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2020年5月8日

註釋

May be I'm overreacting at the moment, but everything fits perfectly. Now we have a perfect ascending channel with the middle line which is also respected by the price of $BTC. Before updating a local high, the price needs to trigger stop losses of short positions opened below the $10000.

Then test the support of $9530 and trigger a bunch of long stops. After these movements BTC can easily continue going upwards following the ascending channel and reach $10500 resistance just in time of Halving.

2020年5月9日

註釋

The price just touched the ascending support of the channel. As long as BTC stays above the $9530, long positions are safe.

If during weekend the price break down through this support, we should see a reaction at Monday cause there will be a gap above the price.

We stay without a position on BTC, as we always do on weekends.