weslad

Bitcoin: what next after major breakout!!!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hello guys,

As we all know Bitcoin breakthrough major market trend line and so far the re-test is done with nice bounced but I believe to make this trend breakout valid we should expect one or more re-test on this trend zone.

If you could recall my last analysis which proposed immediate test on 12k zone after discovering potential BAT formation on BTC . This view remain very valid and we can count on it and wait for possible retracement after the BAT target is achieved.

We should focus more on the final target of this analysis to be our immediate resistance and possible sell off zone.


If BTC play to this idea then our long term buy zone will be towards 8k-8k5 zone.

Note:
It will be good to always understand risk involve in trading. Always trade with stop Loss in place.

Set up an entry/exit strategy for every trade, with good risk/reward ratio.

Kindly go through the chart and do leave us your comments to let us know how you feel about our view,

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Thank you.
Trade active
Trade active: BTC Approaches potential sell off zone, but mind you we got strong news today which is strengthen the bull at the moment, I will prefer us to wait and see market reaction here 13000-13300.

If market break through this level then next major resistance is at 14,350$.

Trade closed: target reached: Target achieved on the long side, still waiting for major reversal to short.
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Comments

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+3 Reply
Yeah, makes sense, but btc is charged to go way higher, so I am not sure the bulls will let it slip too low. Bitcoin marketmakers might not be willing to go into the dive...
+2 Reply
weslad TopTradingSignals
@TopTradingSignals, That will be interesting, but this market is far funny than that, it can slip in any seconds where every view will change from Bullish to bearish. Let be ready to be flexible with it no matter what happen.
Reply
Phi-Deltalytics TopTradingSignals
@TopTradingSignals, I totally agree. Especially when the "marketmakers" have a 9k+ purchase price. AND there are bears to work as fuels for the upside (futures).
Reply
I'm not sure if your upper trendline is correct. On my chart we haven't broken out yet.
+2 Reply
weslad GoldenFib
@GoldenFib, Do share your chart, and this chart is done with log view. Try that and let see what you come up with. Thanks
Reply
thanks for sharing! this is what I see on BTCUSD:
+2 Reply
weslad Saeed966
@Saeed966, Nice chart, thanks for sharing with us
Reply
There's a lot of conflicting news with bitcoin lately... Something big on its way.. I trust WCSE to guide me
+1 Reply
A clear analysis. Thank you. He may continue to rise to the resistance, and if he does not break it, he may return to the scenario that you set
+1 Reply