BTCs path for the coming days

2020年4月12日

BTC is has crossed and held first resistance in the daily chart. Now it will face major resitance at the 7800s. I believe this will be a big road block and take us back to the low 5000s level. I will update once we get price action at the 7800s level for confirmation of the sell out

2020年4月26日

註釋

We have now reached resistance at 7800 as expected. Whats next?

Well I think this is a great time to look for a short entry. How? Looking at lower timeframes. In this case, the 5 min could give us the first clue that this correction is over.

I see a descending triangle formation (bearish) that if it breaks down, it will create a lower low in the 5 min timeframe. I think this could be a great spot for a short. No target price set yet but it can easily go to 150 in a matter of days, we'll have to see. Stop loss after break down would be breaking above descending triangle or 200