BITCOIN, according to recent analysis we should open a SHORT.

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
During the last flat $BTC formed a native bearish wedge. Important thing: the resistance of this wedge was created much before the wedge was formed which makes level even more strong. Therefore, if the price tries to go upward (above $8350 - $8400 level) - it would face not only a bunch of strong horizontal resistance, but two ascending strong resistances as well.

Moreover, I've noticed a descending resistance (thin line above the price). This level deflected the price during a re-test of the support (already resistance) of the bearish wedge .

What do we have in sum? A bunch of signs that tell us to open SHORT position. However, in case bulls are stubborn, we can go upward for a little bit and reach $8350 - $8450 level, but more likely, they won't have enough powers to break higher.

However, in bulls are not going to resist, we would see $BTC at $7500 - $7600 level. In case the price won't be able to take hold above this level, we can fall lower to $7100 - $7200 and fully close the GAP at the CME Bitcoin Futures chart (our idea about one).

If you found this idea interesting, do not forget to Like it and subscribe to the profile, so as not to miss our updates!
Work in the team of Crypto Klondike.


Public Telegram Channel:


Chat Room:

don't worry, those bulls are selling ... just a little bit, not too much, just risk management, you know ... and then they sell a bit more and a bit more and by the end of this flat top ... it will drop !!
Bitcoin Ascending Triangle in 1D Timeframe

Taking a look at Bitcoin on the Monthly time frame, this chart remains 100% bullish:
+1 Reply
your timing on this and verge today. good calls man
+2 Reply
Nice analysis. This is what I'm looking at

Going down instantly! Perfect as always!
+1 Reply
Hold SHORT position since $8100, after saw a GAP. Hope you are right and soon we will dump.
+1 Reply
Where is the etf's moon?
BillCharison monguilhot
@monguilhot, Well, reasonable question. As you could read from the news media sources, ETF was delayed again, unfortunately. I want to mention that in our idea we've just mentioned a number of reasons which tells us about the higher probability of positive SEC decision, but nothing more. It didn't have a character of an inside or absolute statement, just an assumption. However, we can find a positive moment there too: there was no dump after this news. This fact tells us that the majority of crypto traders don't care about negative SEC decisions, but in case of a positive one happened - we will see a moon.
+1 Reply
monguilhot BillCharison
@BillCharison, Well... Block the project is different from postpone, maybe it is the difference about the price moviment. If you look the orderbook of the majorities exchanges, one little ball can colapse the price to $6k easy. I know that you hadnt ask, but I think that we need to confirm the bottom...
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out