This is not a signal to buy. The buy-zone is my personal target. :)
Downtrend Continuation
Head and Shoulder - bearish
1h 50MA (cyan blue) moving downward indicating downtrend
MACD indicates more selling power than buying
Expect to touch 45k in the short term
Uptrend Indications
H&S is bearish.. Reversal may take time
Break through resistance line / 1hr 50MA
1h 200MA (purple) continues upwards
50MA and 200MA converging and 50MA bounce off
Buy Zone
50-60% retracement
200MA support line
I am using moving averages to predict the price movement (red arrows)
Keep in mind the movements of BTC
Huge spike in price a few days ago
Mid/long target - 70k
I waited for a pullback and buy my first position at 45.8k
Will add more if it drops to 43.8k.
Once it reaches the buy zone, risk to reward profile is essentially 50/50. Set stop losses!
Do your own research! :D
Good luck!
Downtrend Continuation
Head and Shoulder - bearish
1h 50MA (cyan blue) moving downward indicating downtrend
MACD indicates more selling power than buying
Expect to touch 45k in the short term
Uptrend Indications
H&S is bearish.. Reversal may take time
Break through resistance line / 1hr 50MA
1h 200MA (purple) continues upwards
50MA and 200MA converging and 50MA bounce off
Buy Zone
50-60% retracement
200MA support line
I am using moving averages to predict the price movement (red arrows)
Keep in mind the movements of BTC
Huge spike in price a few days ago
Mid/long target - 70k
I waited for a pullback and buy my first position at 45.8k
Will add more if it drops to 43.8k.
Once it reaches the buy zone, risk to reward profile is essentially 50/50. Set stop losses!
Do your own research! :D
Good luck!
Comment:
It is trying to break through 70k... if it does.. expect it to rise to at least 80k! :D
Comment:
oh wow that massive sell pushed it from 72k to 68k. It's still trying to stay above 70k.. just be wary folks!
Comment:
Yay!! It broke through 70k and touched 90k. That is wonderful. :)
Trade active:
Check out my other chart made for ETP. With the help of Kobekobe below. =)
Trade active:
Check out my recent updated chart on ETP. With the help of Kobekobe in the comments. :)