SwissView
Long

BTCUSD: Break Of Major Downtrendline, Target 9,5k

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTCUSD             passed by allready it´s probalby widely anticipated "panic low". Now we have seen it. We have seen the widely anticipated "crash" as well. BTC             now forming a bottom pattern. To detect it Crypto traders likely can follow well known chartpattern from FX, Stock or Bondmarkets.


Short term target is the a possible resist from a inverted left shoulder at 9.5k. Weekends past few weeks brought from Friday evening until Sunday morning something like "quiteness" depending on negativ news. If ever the noise is fading BTC             went up. Time to enjoy the weekend, folks.

Trade active: Pull back to downtrendline:

Trade active: Downtrendline re tested. What we see in BTC doesn´t look that bad. BTCUSD likely to form an inverted head & shoulders pattern. This would trigger a medium term, mulitple buy signal.

Trade active: BTCUSD now at an important point:



BTC needs to rise to 9.500 to avoid new downsidemomentum wich could cause lower lows and confirm the path to "Zero". BTC needs to stay above this trendline. Hodler shout activate now SL orders to avoid to get crushed if ever BTC accelerates again downside momentum. Watch BTC now very, very closely.
Comment: BTCUSD: Inverted S-K-S closed to be completed.

Comment: UNCH: BTCUSD: Inverted S-K-S closed to be completed.

Trade active: UNCH: BTCUSD: Inverted S-K-S closed to be completed

Comment: UNCH: BTCUSD: Inverted S-K-S closed to be completed

Trade active: Bitcoin extended a rebound on Monday as the regulatory concerns that have plagued digital currencies this year showed signs of subsiding.

Bitcoin climbed 2.6 percent to $8,774 at 10:26 a.m. in London, bouncing back by almost 50 percent since dipping below $6,000 in intraday trading Feb. 6, according to composite Bloomberg pricing. Alternate coins Ripple, Ether and Litecoin advanced at least 3.5 percent.
https://www.bloomberg.com/news/articles/2018-02-12/bitcoin-closes-in-on-9-000-as-regulatory-fears-peter-out
Comment: UNCH: BTCUSD: Inverted head & shoulders pattern close to be completed

Trade active: UNCH: BTCUSD: Inverted head & shoulders pattern close to be completed

Comment: UNCH: BTCUSD: Inverted head & shoulders pattern close to be completed

Trade active: Target @ 9.500 almost reached.



UNCH: BTCUSD: Inverted head & shoulders pattern close to be completed
Comment: Target @ 9.500 almost reached. Trade ready to close.



UNCH: BTCUSD: Inverted head & shoulders pattern close to be completed
Trade closed: target reached: TRADE CLOSED, target almost reached. This trade is closed because otherwise to many trading ideas are open wich need to be covered daily. To close USDBTC is no decission if BTC might rise further - or not.

Related Ideas

Your trendline looks of. Should be somewhere around 9200
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SwissView mycoinmoon
@mycoinmoon, you can choose diffrent settings. I followed BTC in the downtrend very closely with this setting. I traded the fals break above this trendline long. BTC later is falling back. After this happened the sell off occured directely.
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