I am currently on a holiday & hence less active, this is what I am seeing right now on charts a possible Bullish Bat forming,
7525$ - we need to have good rejection on 4hr as well as daily time frames for this to work out.
I am looking at possible inverse head & shoulder on daily & I am currently long from 7191, I am looking to close 50% around 749x rest if we see a good breakout from 7525 I will let it ride for higher targets mentioned on charts
another pattern I am looking at is a possible double top on the daily time frame, As you can see on the chart volume has been going down significantly, it was expected with this holiday season, So we can expect that a BIG Volume candle will come soon enough
as you can see 752x is an important level on the charts I will advise you to be patient & wait for some candle closes around those level before entering in any new trade, if you look at history January & February are the months where bitcoin has been setting it's YEARLY LOW so it is fairly possible that we will see a new Low in coming months before seeing good rally upwards, I am bullish on bitcoin for the year of 2020, we are slowly falling into accumulation phase, if you have been following me long enough you might remember this charts
as always #DYOR
remember I am not a financial advisor & this are all just my thoughts :)
7525$ - we need to have good rejection on 4hr as well as daily time frames for this to work out.
I am looking at possible inverse head & shoulder on daily & I am currently long from 7191, I am looking to close 50% around 749x rest if we see a good breakout from 7525 I will let it ride for higher targets mentioned on charts
another pattern I am looking at is a possible double top on the daily time frame, As you can see on the chart volume has been going down significantly, it was expected with this holiday season, So we can expect that a BIG Volume candle will come soon enough
as you can see 752x is an important level on the charts I will advise you to be patient & wait for some candle closes around those level before entering in any new trade, if you look at history January & February are the months where bitcoin has been setting it's YEARLY LOW so it is fairly possible that we will see a new Low in coming months before seeing good rally upwards, I am bullish on bitcoin for the year of 2020, we are slowly falling into accumulation phase, if you have been following me long enough you might remember this charts
as always #DYOR
remember I am not a financial advisor & this are all just my thoughts :)
Comment:
I missed the short entry, had ladder orders from 7550 but as i mentioned Daily double top is panning out, for now, We had good rejection at 7524, i am waiting on more PA before entering in new setup, for now still priority is short it will change IF WE HAVE A CANDLE CLOSE ABOVE 7525
