TomHall

BTC.USD - $11,600 Breakout or $5,500 Reversal?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Trade Pair: BTC             .USD
Time Frame: Daily
Predicted Direction: N/A

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:
Comment: Intraday Trade Opportunity.

Comment:
Trend lines beat Fibos - every single day in Bitcoin.
Fact not fiction - he that hath eyes...
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Great Analysis Tom! Your immense experience in TA is fresh air in this space.
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My Personal Journey with BTC
I'm still trying to figure out what happened in the market these days.
Maybe I'm wrong, and maybe I'm right, in any case, there are a lot of things to learn.
I'll find patterns, tricks and ideas and learn about all of them and I'll post a lot of updates here. Be with me and let's figure it out together.

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What are your updates? 8300$ down 7600$, That's right?
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I agree .
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I drew that ascending trendline a little lower.. so in your case it's still a resistance, but idd, we should see some fast follow up through those levels you mention, otherwise it stays on this level forever... but I doubt that we see 5500 again.. I think there has been a double bottom already, though it wasn't that precise. I think the depth of Febr.6 was an overreaction. But you're the pro :-)
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I really try to cover your back after you post some Bitcoin ideas, Tom. Last time i failed, though. Let's see how it goes this time.

Im joking, but those are the 2 possible scenarios by now, a break abouve 9.2-9.5 is probably a bull run confirmation.
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@Acel, lol i appreciate the support :-)

For me there is no huge resistance after $9k so a run is certainly possible.
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I would look to short around $9300
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TomHall mastercharts
@mastercharts, It's certainly a level, we will see what happens into early next week.
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