1st lag- hike from $1000 to $3000 mark followed by 50% retracement as shown in chart. retraced level $1900 2nd lag- from $1900 to $4900 which was again followed by 50% retracement. retraced level $3100 current lag from $4900 to $6590 but their is a negative convergence(see chart) which i believe can be the start of the corrective phase in coming days.
disclaimer: viewers are advised to trade at their on risk. . Positional trade steup Btcusd formed a nice CUP & HANDLE pattern on hourly time frame. breakout was confirmed with increase in volume & surpassing crucial pivot line. buy @ 5810 - 5860 target 1 = 5999 target 2 = 6181 target 3 = 6419 sl= 5680
COINBASE:BTCUSD AB=CD pattern is almost done in BTC/USD in daily candles. $6300 area is where "D" wave ends. But BTC may see 1.618% extension of Fibo i.e near 6800+. Satying neutral here & just watching price action @ these levels. Next immediate resistance is 8000 (2.0 of Fibo ext).
BTCUSD is set to test 6000-6100 $ , if reverses from demand Zone
Short Bitcoin below 4320 T1: 4260 T2: 4225 T3: 4150 SL: 4360
Shrort BITCOIN at CMP(4300) T1: 4100 T2: 3820 T3: 3700 SL: 4410
BITFINEX:BTCUSD is a buy for Target of 4620
Short bitcoin upon the neckline break, i.e, below $4260 T1: $4220 T2: $4195 T3: $4160 SL: $4287
BTCUSD is heading to test its previous highs OF 4900 -5000 $.
Buy BTCUSD above 3785 upon breakout T1: 3870 T2: 4000 T3: 4120 T3: 4290 SL: 3680
As RSI made base for btc/usd..may be it will give buy trigger signal in between week above swing high...
I am a firm believer of $BTC. Trend almost repeated there, will it repeat for the third time? Only time can say. I hope it bounces back harder again.
BITSTAMP:BTCUSD IS A BUY FOR TARGET OF 4133 , IF IT HOLDS THE LOWS .
Trying to search some positive rays from this negativity. If right shoulder formation is completed we may see some upward movements.
On breaking the support at 3390, price action will move towards 3230 for support. I expect a retracement here.