Hello Crypto traders, analysts, hodlers and enthusiasts!
We will review Bitcoin on a "D"aily chart view!
First of all, I won't make this too complicated, because it isn't! Chart analysis may seems not hard to most of you, but in fact candles are formed by the same people as you and me!
*People, cheering for Bitcoin, hoping that Bitcoin will hit the moon soon!?
*People, who believe that Bitcoin will follow the same scenario back from end 2017!?
*Eventually the same people, LOST belief in Bitcoin, selling the "my precious" for all of us coin, called the Crypto gold and indeed BTC!
*Eventually, results are obvious looking Bitcoin price(hitting new bottoms, bottoms that wasn't expected from most of you - but not me!)
*Finally, having in mind that we are on TradingView, charts are speaking for themselves - Some serious Dojis were formed in the last few Days!
*There is more .... Bearish movement is not over.... not over at all!
- Let's talk about the chart and what I see in following candles formed(without using much Indicators):
1 - Descending triangle has been formed - down trend was expected and here it is ... but until what levels - without getting into any fundamentals (because there is not much...)
1A - New level of support to be expected (it will happen!) at the 4000 mark.
2A - New level of support to be expected (it will happen as well!) at the 3200 mark.
3A - As an Indicator we will follow the same back line that we received by drawing the Descending Triangle - extending it to the lower levels of support that ARE Expected.
2- Stochastic is Oversold back from 18th Nov. (Up Trend is expected - but not before we hit those 2 Support levels and new bottoms for BTC as mentioned already)
Please feel free to reach out to me with any comment or send me a message on private, whenever I have time, I will be happy to answer any kind of questions.
Just to give you and idea on what I am doing and if this could be useful to you - I am a Bitcoin(Blockchain) investor, speaker, trader and hodler. I am specialized in ICO's investments.
Recently I had a conversation with people like Andreas Antonopolous and Ian Balina in regards, mostly to blockchain adoption and implementation in real world. ICO's that are standing behind real world products and usability!
Last but not least, I am standing mostly behind the fundamentals of the whole idea and not least behind the technical analysis!
This is not a financial advice nor an advice to buy the DIP and sell the TOP. Hodling what you've got in USD or USDT is maybe the best decision to make in those hard Crypto times!
We will review Bitcoin on a "D"aily chart view!
First of all, I won't make this too complicated, because it isn't! Chart analysis may seems not hard to most of you, but in fact candles are formed by the same people as you and me!
*People, cheering for Bitcoin, hoping that Bitcoin will hit the moon soon!?
*People, who believe that Bitcoin will follow the same scenario back from end 2017!?
*Eventually the same people, LOST belief in Bitcoin, selling the "my precious" for all of us coin, called the Crypto gold and indeed BTC!
*Eventually, results are obvious looking Bitcoin price(hitting new bottoms, bottoms that wasn't expected from most of you - but not me!)
*Finally, having in mind that we are on TradingView, charts are speaking for themselves - Some serious Dojis were formed in the last few Days!
*There is more .... Bearish movement is not over.... not over at all!
- Let's talk about the chart and what I see in following candles formed(without using much Indicators):
1 - Descending triangle has been formed - down trend was expected and here it is ... but until what levels - without getting into any fundamentals (because there is not much...)
1A - New level of support to be expected (it will happen!) at the 4000 mark.
2A - New level of support to be expected (it will happen as well!) at the 3200 mark.
3A - As an Indicator we will follow the same back line that we received by drawing the Descending Triangle - extending it to the lower levels of support that ARE Expected.
2- Stochastic is Oversold back from 18th Nov. (Up Trend is expected - but not before we hit those 2 Support levels and new bottoms for BTC as mentioned already)
Please feel free to reach out to me with any comment or send me a message on private, whenever I have time, I will be happy to answer any kind of questions.
Just to give you and idea on what I am doing and if this could be useful to you - I am a Bitcoin(Blockchain) investor, speaker, trader and hodler. I am specialized in ICO's investments.
Recently I had a conversation with people like Andreas Antonopolous and Ian Balina in regards, mostly to blockchain adoption and implementation in real world. ICO's that are standing behind real world products and usability!
Last but not least, I am standing mostly behind the fundamentals of the whole idea and not least behind the technical analysis!
This is not a financial advice nor an advice to buy the DIP and sell the TOP. Hodling what you've got in USD or USDT is maybe the best decision to make in those hard Crypto times!
This is a continued analysis on Bitcoin back from 21st, when initial analysis was created.
- 1st Support target at 4000 mark is reached
- Stochastic looks over sold as it was expected
- 2nd Support target at 3200 mark still under consideration