TradeWithMky

BTC USDT signals for reverse or retracement #3

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
#TradeWithMky

this analysis is about channel trading + fibonacci + support Lines
at the first let me tell you there is no confirmed Top right now in btc so this analysis is true only when this price was TOP and if price goes upper than this line analysis will be failed

1 : channel Trading : as you see in the chart Channel in weekly time Frame is placed and I devided it to 4 slide
each part is 1/4 channel and maybe channel will show reaction on them
if price passed 1/4 channel , channel would be more confirmed so in channel trading its better to wait until pass 1/4 and target would be 1/2

2 : Fibonacci levels : as i said in last analysis right now we are in 127% fibonacci so combine with 200% fibonacci with another wave
so if price pass one fibonacci lvl we expect to go on next fibonacci lvl to return
so if price passed 23% fibonacci we expect to have the price in 38% fibonacci

3 : support & resistance lines : as you see in the chart support resistance lines combined with fibonacci levels and channel trading target

4 : cut line trading ; if price passed the cut line that I draw from the bottom of channel to top price will go more down


so something that is really confirmed here is if price passed 19400 it won't stop until 16500

send me your comment and send your questions as well
Thanks for reading



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