BTC1! Weekly analysis
- Green channel: Ascending channel
- Red channel: Descending channel
- Green dash lines: Target if BTC goes up (could be higher)
- Red dash lines: Target if BTC gets dumped (maybe not that low, but somewhere in the channel or close to the bottom channel)
- Blue dash lines: retest of Red Channel
- Vertical lines: Fibonacci time zone
I set up the last low to high this year for the Fibonacci time zone.
Vertical line sequence 2: Next support/resistance that's going to be made (approximation) around end of December.
Conclusion:
The descending Channel (red channel) has been broken out upwards and retested. I am waiting for this week's candle to close (whether it's gonna touch the channel back or create a doji, etc.) and then we will have a better view on what to do. (Eventho I already have some positions opened lol)
Daily chart is being squeezed in between MA100 & MA200.
Last 4H chart formed a doji candle with a small green head (bullish sign, short term).
Monthly chart still has lower highs and lower lows (bear or building a bull flag, no one knows).
Weekly and monthly trading above MA100 & MA200.
Personally I'm more to the bearish side. If BTC rockets up next month, then alot of people will be rich.
But according to the system, alot of people cannot be rich :D central banks and the government like to F things up.
This is my opinion, don't get offended.
- Green channel: Ascending channel
- Red channel: Descending channel
- Green dash lines: Target if BTC goes up (could be higher)
- Red dash lines: Target if BTC gets dumped (maybe not that low, but somewhere in the channel or close to the bottom channel)
- Blue dash lines: retest of Red Channel
- Vertical lines: Fibonacci time zone
I set up the last low to high this year for the Fibonacci time zone.
Vertical line sequence 2: Next support/resistance that's going to be made (approximation) around end of December.
Conclusion:
The descending Channel (red channel) has been broken out upwards and retested. I am waiting for this week's candle to close (whether it's gonna touch the channel back or create a doji, etc.) and then we will have a better view on what to do. (Eventho I already have some positions opened lol)
Daily chart is being squeezed in between MA100 & MA200.
Last 4H chart formed a doji candle with a small green head (bullish sign, short term).
Monthly chart still has lower highs and lower lows (bear or building a bull flag, no one knows).
Weekly and monthly trading above MA100 & MA200.
Personally I'm more to the bearish side. If BTC rockets up next month, then alot of people will be rich.
But according to the system, alot of people cannot be rich :D central banks and the government like to F things up.
This is my opinion, don't get offended.
