BTCUSD had a lovely pump couple of days ago, fueled by the awesome new from China's Govt that we should all "Seize The Opportunity" to get Bitcoin. It is rare for the Chinese Top Official to issue such a bold and clear statement to the public. Fundamentals for Bitcoin is solid with Halving just about half a year from now, things are getting exciting ;p
Being a strong believer of Bitcoin and Cryptocurrency, let me share my humble analysis with the TradingView community on BTC.
To start off, I bought some BTC at 7500 as that area shows strong buy interest. Big time frame at that time still looks like a downtrend and I am still hopeful to get more BTC at lower price. However, nobody expect the news from China (unless you know somebody which gives you the juicy insider tips.. heh), at least I am in and taken a nice position.
Now, to my charts. I have marked out the start of the move to be at 7550 region and also the consolidation area where BTC is likely going to base before making the next move. If it goes up and make new high, I am sure to say trend has change from down to UP and it will likely be parabolic run up to 14k easily. However, if it comes down, we have a good chance for the Bullish Bat to complete, coincidentally at my preferred buy area.
Things we can do now:
1) Play the base or consolidation bounce, however I will prefer to do only the longs and not short, I just cant bear to part with my precious BTC :)
2) Be patience and wait for market to show her hand, if it comes down, long it at proposed levels! If it breaks up, buy each pull backs to trade with the trend.
Do like and share this post. I use a combination of trading strategies such as Supply & Demand ( SND ), Harmonics Patterns, Multiple Time Frame Analysis , Candlestick Analysis to name a few. Follow me if my trading style suits you as I will be posting new trade ideas and analysis regularly.
Being a strong believer of Bitcoin and Cryptocurrency, let me share my humble analysis with the TradingView community on BTC.
To start off, I bought some BTC at 7500 as that area shows strong buy interest. Big time frame at that time still looks like a downtrend and I am still hopeful to get more BTC at lower price. However, nobody expect the news from China (unless you know somebody which gives you the juicy insider tips.. heh), at least I am in and taken a nice position.
Now, to my charts. I have marked out the start of the move to be at 7550 region and also the consolidation area where BTC is likely going to base before making the next move. If it goes up and make new high, I am sure to say trend has change from down to UP and it will likely be parabolic run up to 14k easily. However, if it comes down, we have a good chance for the Bullish Bat to complete, coincidentally at my preferred buy area.
Things we can do now:
1) Play the base or consolidation bounce, however I will prefer to do only the longs and not short, I just cant bear to part with my precious BTC :)
2) Be patience and wait for market to show her hand, if it comes down, long it at proposed levels! If it breaks up, buy each pull backs to trade with the trend.
Do like and share this post. I use a combination of trading strategies such as Supply & Demand ( SND ), Harmonics Patterns, Multiple Time Frame Analysis , Candlestick Analysis to name a few. Follow me if my trading style suits you as I will be posting new trade ideas and analysis regularly.