MikeMoh

BTC MAJOR move, what you have been waiting for is ALMOST there

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Looking at the daily chart on BTCUSD it is very clear that the sideways movement may be ending very soon.

there are 2 major trend lines plus 1 minor trend line .
we will start to pick up momentum as soon as we go pass one of the 2 main trends.

Trend 1 : Major downtrend ORANGE ( representing resistance from all time high 2017 dec ) LATEST ACTION DATE - 24-04-2018

Trend 2: Major uptrend BLUE ( representing resistance from Nov 2017 ) LATEST ACTION DATE - 11-04-2018

Trend 3: Minor downtrend RED ( representing resistance from March 2018 ) May happen ANY second before above dates


as you can see the way south seems to be easier with less obstacles. there are some support levels right under uptrend but i
personally do not think they will hold if price breaks out of the main uptrend. and we may see massive dip all the way to 4900$ or even 3000$.

however , if we break the minor trend ( red ) then we will very very likely test the major downtrend ( Orange ) once or twice , and if we get a close above it, then nothing will stop BTC from going to 11500$.

The dates mentioned above are the LATEST possible expected dates, actions may happen earlier but not later than mentioned dates.

for those who do not like READING and just want to know whether to sell or buy.

I personally won't do anything right now until we either break Major uptrend ( BLUE ) i'll SELL , or break Minor trend line ( Red ) i'l BUY. as for now , we are still LONG from our prev analysis. we bought at around 6400 on 1st april , with a stop loss just below the uptrend and aiming for the downtrend level.

Good luck.



Trade closed: target reached: I gave a signal to go long after the break of the minor trend and aim for the major trend line which price just hit and bounced back from there. very nice clean trade with low risk
i believe it will go down to ~4k
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MikeMoh patrickjmeyer
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