Bitcoin 56 hours prediction (Triangle Pattern possible +200% )
The past days we saw Bitcoin bouncing between a price around 6800 on the upper level and 6100 on the lowest dip. Since now 11 Days we are slowly trying to change the trend. The actual bear market started on June 9. The bulls started to fight the price 4 days later. Since then we are moving in a lower trend to the upside and the bulls are starting to gain more power.
The Bulls successfully defend a new trendline which was contested by the bears on
16.06.2018 ( $6290)
16.06.2018 ($6330)
18.06.2018 ($6375)
18.06.2018 ($6405)
On the other Hand, the bears are pushing the bulls back at the price levels between $6600 & $6780.
The current situation shows us that we are crossing a descending Triangle and we already bounced back from the bearish resistance.
A short trade would have a risk-reward ratio from 2.0 with a gain around 3% (without any leverage) a small leverage trade with x10 would give us a possible gain around 30% in the next 56 hours.
The Triangle pattern will definitely break in the next 56 hours and its highly likely that we will have after our short trade a final long position. if we can break the pattern then we are looking for a price improve above 15% without any leverage. ( Pattern price range 18.77)
Our confirmation for the short entry is that we also can see a downtrend on our MACD and our RSI which was formed and already tested once.
I hope I forgot nothing and I will keep you updated about the movement on this chart for the next 56 hours.
See you soon
Crypdamus
The Bulls successfully defend a new trendline which was contested by the bears on
16.06.2018 ( $6290)
16.06.2018 ($6330)
18.06.2018 ($6375)
18.06.2018 ($6405)
On the other Hand, the bears are pushing the bulls back at the price levels between $6600 & $6780.
The current situation shows us that we are crossing a descending Triangle and we already bounced back from the bearish resistance.
A short trade would have a risk-reward ratio from 2.0 with a gain around 3% (without any leverage) a small leverage trade with x10 would give us a possible gain around 30% in the next 56 hours.
The Triangle pattern will definitely break in the next 56 hours and its highly likely that we will have after our short trade a final long position. if we can break the pattern then we are looking for a price improve above 15% without any leverage. ( Pattern price range 18.77)
Our confirmation for the short entry is that we also can see a downtrend on our MACD and our RSI which was formed and already tested once.
I hope I forgot nothing and I will keep you updated about the movement on this chart for the next 56 hours.
See you soon
Crypdamus
Comment:
Today we startet to break trough the Triangle pattern. We are waiting untill we leave our stop loss area. If we go above that area we are going to enter our Long poisition
Trade closed manually:
Take Profit on our short position and going to buy now