NOTE- Watch My Previous Article if you want to know about Previous TP & SL in BTC Perpetuals
Let's move further and analyse the current chart ,so as u guys can see i have plotted some key levels as mentioned below ...
A trendline which is acting as resistance ATM
A sideways Channel that indicates sideways move on the chart
Our Last TP as mentioned in...
H & S and volatility contraction happening for simple easy target of T1 -12000 or T2- 9000. At these levels price structure will determine the future target for a new high or GAME OVER for bitcoin.
Looks like the big boys have booked profit and BTC is again on its way down to 18000 its good support, lets see how it holds up!! Right now going long would be extremely risky imo.
The Price is currently sustaining at Year 2017 High. If we talk about the current market structure, the overall context remains bearish. The bearish : bullish candles printed on the chart is 4:1 and even the pullbacks are significantly weaker which tells us that the current support level might be taken out and we can slip down by 30% more to test the level of...
Staring at this chart from a while, it really boils down to this IMO
Wait for the trigger in the either direction before placing big boy bets.
I'm personally leaning lower. Would be a perfect play in the bigger scheme of things.
You do you, Anon
NFA
The U.S. just announced the monthly rate of retail sales in April, recording 0.9%
It hit a new high since January this year, in line with expectations;
The previous value was revised up from 0.5% to 0.7%
After the data was released, the market fluctuated little in the short-term
Consumers will shift from goods to services such as travel and entertainment
Demand...
Nasdaq stopped falling near 11100 last week
Just hit the moon line MA42
This moving average was previously mentioned when analyzing the S&P 500
It's a variant of the Moonline MA84, but it's far from the bottom here
Back to Bitcoin:
<1> The angle of entanglement: it is currently in the divergence section at the weekly level;
<2> Volume and price point of...
Have taken a good short on 42k ranges but it's so slow that it's been couple of weeks & still the target is pending before any good opportunity to trade
BTC is at the bottom of the daily channel and looks like bottoming out with an ending structure completing its wave structure for now and the next move can be towards the upside. If it were to go all the way up then the daily channel target towards the upside would be over 50k.
Bitcoin prediction as per chart pattern
their should be shakeout before breakout/breakdown
shakeout happened now it's time for breakdown
Take trade accordingly with proper risk management
At this spot it generally hard to figure if a retrace is coming after hitting resistance for BTCUSD or if it will continue straight up...
I say straight up.
Feel free to hit LIKE now and let's get started.
Other than the obvious and strong bullish bias that has developed on the Bitcoin chart, we also have a new tool.
( Thanks to @CryptoSoap who mentioned this...
Some Important zones in Bitcoin. Highly probable it will go up after tapping the Moving Average. If in long position, some upper zones to close long position. If not in long position, check for shorts in upper zones or breakout of below zones with assistance of maybe a MACD.
Good Luck!
