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UnknownUnicorn180388
May 7, 2018 10:46 AM

Bitcoin - $8,800 / $9,800 No Trade Zone 

Bitcoin / United States DollarCoinbase

Description

Trade Pair: BTC.USD
Time Frame: Daily, 4hr, 1hr & 5min
Predicted Direction: Breakout Dependent

BTC.USD updates will be available in the comments section below.

The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.

Comment

1hr & 4hr consolidation providing evidence additional downside is expected.
It's likely price will retest the 4hr ascending trendline.

Comment

Price collapsing as expected, however we are now running into the 4hr ascending trendline which should provide us an indication of the next move.

Comment

Price once again testing $9,000
It will now be interesting to see how price reacts as we approach support forming deceleration.

Comment

A strong break below, please note a candle close is required prior to any possible entry.

Comment

Comment

Textbook moves, i will be publishing my next thoughts this morning.

Comment

New Trade Idea.

Comments
Robbanbiff
Look at my basic chart i did last night wich was 100% accurate AGAIN.. Please guys follow me for more TAs as i have a tendency to be correct on what price is next ;)

UnknownUnicorn180388
@Robbanbiff, Great analysis.
A-CommonTrader
@Robbanbiff, nice one ....
SloppySeconds
Thoughts on the price effect of the CBOE btc futures settling on May 16th?
DIYIrrigation
Thanks Tom. Good stuff.
UnknownUnicorn180388
@DIYIrrigation, My pleasure :-)
DarkwolfSE
Beauty of fractals ...
Smoak
I'm showing the 50 day moving average at the 8500 level. Do you think we will break this?
UnknownUnicorn180388
@Smoak, It's possible yes, as of right now there is no clear direction.
If 8.8k breaks then i will look for a short opportunity.
BITCOIN21
Hi Tom i think the target is $7200
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