Hi, guys.
I want to show you my idea, since some people are calling for BTC to go up because it has broken a resistance.
The idea of going up because a resistance has been broken only seems to work properly in an uptrend, because when there’s a crash like this one, every resistance broken doesn’t necessarily mean it goes up indefinitely.
I’ve seen these fractals in 2014, and I’m gonna show it to you with a triangle so you can see where BTC is at the moment.
I’m not saying it can’t go up, despite the title, because it would be ridiculous. I’m saying it’s more probable it goes down than up, according to fractals, super low volume, and 50 MA broken (green) and going down to reach 100 MA (blue) and possibly 200 MA (red).
Hope it shows you a different point of view.
It’s just an idea. I’m not responsible of your actions. Trade according to what you think.
Cheers :).
FRACTALS 2014:
I want to show you my idea, since some people are calling for BTC to go up because it has broken a resistance.
The idea of going up because a resistance has been broken only seems to work properly in an uptrend, because when there’s a crash like this one, every resistance broken doesn’t necessarily mean it goes up indefinitely.
I’ve seen these fractals in 2014, and I’m gonna show it to you with a triangle so you can see where BTC is at the moment.
I’m not saying it can’t go up, despite the title, because it would be ridiculous. I’m saying it’s more probable it goes down than up, according to fractals, super low volume, and 50 MA broken (green) and going down to reach 100 MA (blue) and possibly 200 MA (red).
Hope it shows you a different point of view.
It’s just an idea. I’m not responsible of your actions. Trade according to what you think.
Cheers :).
FRACTALS 2014:
Comment:
BTC was testing the previous support, now resistance.