Bitcoin now caught between 42 / 50k. What is next? See it here!
Dear traders,
An interim update for Bitcoin. All scenarios are still open. The Diamond from my previous analyses but also the main shoulder formations, wedge. Check them out as it contains interesting information and is a roadmap.
Currently with Bitcoin we are in an oversold situation. We are seeing some positive divergences forming and the price is fighting to get back up a bit. I expect that short recovery to a maximum of 50-51000 USD.
Should the situation change at that point because patterns and structures are constantly changing, I will post new analyses as ususal.
You see here the 30 minutes chart of BTC. You also see a small inverted head shoulder formation that fits perfectly like a puzzle into the short term recovery movement.
I have put the targets and stop for Bitcoin in the chart. Bitcoin is leading the market and this recovery move may help the ALTS. They rise faster but also fall faster so therefore keep a close eye on Bitcoin levels.
Below 42000 it becomes dangerous and should we go below 40000 then I close my long positions because the probability is then too high for a further decline.
My longer view on Bitcoin is pretty bearish so stops are needed at strategic places!
Traders I would love to hear your idea's and view on Bitcoin! What is your view and most important why! An idea is good but without analysis it says nothing of course.
Disclaimer: This is purely my idea about ETC and not investment advice. As a trader you should always do your own research and try to protect your capital with money management.
If you like my work please support it by following me and giving me thumbs up. That will motivate to continue with analysing the charts! Thanks!!!
I wish all of you good trading and profits!
An interim update for Bitcoin. All scenarios are still open. The Diamond from my previous analyses but also the main shoulder formations, wedge. Check them out as it contains interesting information and is a roadmap.
Currently with Bitcoin we are in an oversold situation. We are seeing some positive divergences forming and the price is fighting to get back up a bit. I expect that short recovery to a maximum of 50-51000 USD.
Should the situation change at that point because patterns and structures are constantly changing, I will post new analyses as ususal.
You see here the 30 minutes chart of BTC. You also see a small inverted head shoulder formation that fits perfectly like a puzzle into the short term recovery movement.
I have put the targets and stop for Bitcoin in the chart. Bitcoin is leading the market and this recovery move may help the ALTS. They rise faster but also fall faster so therefore keep a close eye on Bitcoin levels.
Below 42000 it becomes dangerous and should we go below 40000 then I close my long positions because the probability is then too high for a further decline.
My longer view on Bitcoin is pretty bearish so stops are needed at strategic places!
Traders I would love to hear your idea's and view on Bitcoin! What is your view and most important why! An idea is good but without analysis it says nothing of course.
Disclaimer: This is purely my idea about ETC and not investment advice. As a trader you should always do your own research and try to protect your capital with money management.
If you like my work please support it by following me and giving me thumbs up. That will motivate to continue with analysing the charts! Thanks!!!
I wish all of you good trading and profits!
