BITCOIN Short term scenario

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
As I've said in the past I rarely give a short term projection here as the patterns tend to be too unstable with Bitcoin's volatility but this one is too interesting to pass by.

Technically the strongest short term scenario is for the price to reverse now towards 7800 as it is trading near the 8540 4H Resistance. However if that breaks then we have high probabilities to see a gap fill towards at least the 4H MA200 (9300). The primary reason for that is the RSI's trend. Since the September 24 crash it has been on an ascending channel with Higher Lows and Highs. So if the 70.00 RSI (overbought) barrier breaks we may see that gap fill in the same way as the September 24 when the RSI broke 30.00 into the oversold zone.
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I believe it might happen but it will be tough because...
Good job!
Maybe.... Thanks!
QuantumHedgeFund QuantumHedgeFund
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If I’ll tack a closer look, it looks like a flat correction consolidation in a 4th the present move got 1 more wave at least 3,3,5
Don’t you think it’s possible?

I explain here about it but for Eth only

Bit complex analysis...

It broke upward out of this. But is it just forming a flag or channel?
Important note

Iits extremely risky cause we know btc is going up
Low profits

i suggest going a strong long and make big profits and stay safe.
buy 12k and sell 8,4k makes sense.

Annyway this just looks like you trying to safu your shorts, dont take his advice on this one. btc can easily go straight back to 9500 and you'l be sitting in the dirt.
+1 Reply
Yea agree with this lets see
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