BTCUSD price must retrace to atleast $3605 (BITFINEX & BINANCE)
XBTUSD.P
BTCUSD
BTCUSDT
After many days in a trading range of approximately 4%, bitcoin finally broke the falling wedge and made a "Pump" of more than 10% in the last hours. There was a break with great volume and the price jumped fast from $3420 to $3800. This movie up was expected in the break of the figure (falling wedge), as I mentioned in previous charts that you can follow in my tradingview profile.
If you could not get on time and get this beautiful move, the time for a LONG for sure is NOT NOW, the price is currently at $3737 and should make a
retracement in the coming hours reaching at least $3605 which is 0.5 fibonacci.
I will continue to follow the charts and bring updates, but for now this is the scenario, $3605 is a support point that must be reached and then we can re-evaluate the whole scenario for the next few days.
God bless.
Comment:
Completing... BTC touch perfectly the downtrend line of the descending channel, which is a major trend in play in short-term timeframes, also is trying to stay above the 200MA but I dont think it will hold for now. Probably we’ll see the price turning back below the 200MA and then fighting to breakup again.
Comment:
Trading Idea (SHORT)
#BTCUSD (BITFINEX)
Leverage: 3x
Sell-Short at: 3750+
Target: 3675 (+6%) and 3605 (11%)
SL: 3825 (-6%)
#BTCUSD (BITFINEX)
Leverage: 3x
Sell-Short at: 3750+
Target: 3675 (+6%) and 3605 (11%)
SL: 3825 (-6%)
Order cancelled:
BTC made a retracement upto $3628 which was very near to 0.5 fib level as I said some hours ago and then started to go up again, so the movement that I was expecting already happened. Im canceling the SHORT signal given in the last comment.
Anyways the price made the movement very similar with my expectations.
Anyways the price made the movement very similar with my expectations.