Edgy_
Long

BTC: Bulls Could Break Downward Channel!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hello dear crypto friends, hope you're doing well! ;)

I wanna start of with what Rob posted yesterday in our group:



=> We afterwards discussed the probability for a mean reverting trade:

  • We're still in the bullish downward channel , which will see a breakout coming eventually.
  • We're at 10k psychological
  • We're at the 61,8% as Rob perfectly pointed out

What does ist give us as trading opportunity?

Mean-reverting means that we're going against the trend. So in this case, we're betting on the bottom to hold. Our downside is 1-2% until the 9,8k region, where our trade is definitely invalidated, and it will mean that BTC will with high probability go towards 9,5k, and probably even break the Weekly Equilibrium bearish in that case.

But should 10k hold, we will have easy 8-10% upward potential, just until 11k alone.

If you're not a in trade yet, you could look out for the 10,2k to be broken, and essentially 10,3k to definitely get the break out of the channel.

If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)

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Bulls we break it and we will see 15k for btc in October.
Also what to share my big picture
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Edgy_ CryptoBullet
@CryptoBullet, Thx for sharing buddy!
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Leave your comments/feedback/analyses on BTC here, as always glad to read them! ;)
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