In todays video i use this chart to explain my theory for bitcoins price, each green line is of importance and a break of any of them will yield a continuation of the trend!
Hi everyone,
A short idea about BTC/USDT
We have a falling wage inside of the triangle which is possible do not play out how supposed to do; because of the Triple MA which is showing us bearish sign , but time will tell .
We have a bounce from the base of triangle and is possible to see a small fake out from falling wage until is touching 9165 to close the...
My previous trade broke even as I assumed a breakout from the downward channel I had created in consolidation. This led to price re-testing an 88.6% level on fibonacci. If price closes above once again, I will be looking to long.
Looking at bitcoin, I see a potential in an upward direction before turning back around to go bearish. Price has tested my support TL and has continued to close above 88.6% for a couple days.
Looking at the start of the bull run in December last year could see a similar trend with a 25% price drop instead of 50%. A 150% price gain would see BTC testing previous highs.
Now that the predicted sell off to the (faster than expected) demand zone of 8k has nearly concluded, A reversal is set to happen. Bids at 8.3-8.4k have been filled for both longterm & short term positions. Expecting the classic "µ" reversal up to whatever planet it lands on. A weekly close above $8,746 confirms that capitulation move to 8.1k was the bottom....
BTC holds the 10000 USDT mark though there are no buyers to boost the price on higher levels . It seems though from the chart that we will have to go higher for price to prepare on going deeper on lower lows territory as any attempt from sellers the last week only resulted on strong bounce back above 10000 every time we touched bellow that ,creating a bullish...
My wife is cheating on me... she still uses real money instead of BTC ;p
Now we are going to cut the crap and explain this trade in proper English so everyone can understand.... price has used a strong support zone ( red box ) and is on its way up to our resistance zone ( green box )
See how simple that was? even my pet dog understood it and is now currently on...
