BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
743 views
5
743 2
This what I see from the chart. The bottom of this trend is very close.
https://uk.tradingview.com/chart/BTCUSD/...
Comment: I am 40% coins and 60% fiat. My plan is to wait until the price reach very cheap price to accumulate. If the price goes up I will collect some profit and reduce the percentage of the coins in my capital to buy in lower prices. be careful about the strong resistance in the following chart.
Comment: This is my prediction for the next move
Comment: Sorry,
This is a correction for the previous chart. The H&S needs longer time to be well developed
Comment: The opportunity of going up is still valid. I put my target at the chart where I am planning to collect some profit ISA.
Comment: I expect a test for the support 6300 then bounce again to the target line. The reasons for this idea are illustrated in the chart.
Comment: The H&S pattern is confirmed if we break the neck (the green circle) with a stretch in volume. I am bull already and my target is small as indicated at the dashed green line. I use money management which means if the H&S fails, I have no problem. However, if the H&S successes I will have more profit. That is why it is important to follow a money management and do not trade all of your money in one go.

Comment: If you look at the following chart, you will find there is still some hope for bulls. The downtrend is slowing down and formed a falling wedge. It may start a small bullish trend from the right shoulder of the H&S or test the bottom then go up again. I expect that we could test the big triangle again before we continue the downtrend.

Comment: A bull flag is forming now, I expect to follow the green line.
Comment: The same volume of buying. So, I expect that this is a bull trap. I hope the price reach my target at 7300 before continuing the downtrend.
Comment: My target has been achieved. Now I am 25% in BTC and 75% in fiat. I do not care for how much the price will go up because when I buy cheap I will get more profit. My expectation is that we have a huge resistance ( the red rectangular) followed by the target of the H&S and then the downtrend line. So, I expect the price will go down at one of these resistances

A bull flag is forming now, I expect to follow the green line.
Reply
Thanks for sharing your analysis!
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out