matteok

Bitcoin resistance reached?? Use Log scale sometimes!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTC             has reached the Linear resistance line on the chart, but it is still far away from the logarithmic resistance line. That's why I believe there are 2 possible outcomes for BTC             in the coming days/ weeks. Or we will see a big correction or we will see a new All time High, I do believe that the China dip is still very very fresh on the BTC             chart. So I believe there is a bigger chance of BTC             to go up.

We have reached the linear resistance line so a small correction is very logical. The important price range to watch for me is 5500-5450 (fibonacci). If we break that i wil open a short position untill we reach the support line. If we don't manage to break 5500 I believe BTC             will move upward to the logarithmic resistance line.

Any way I am not opening any new positions at the moment untill I have a very clear view on where BTC             will head to, when it gets close to 5500 or if it gets close to it's All Time High.

Shorting BTC             is always risky!

Please feel free to respond or question my idea.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out