Hello my Friends, Traders and Interested,
again a quick TA to BTC. My past TAs went quite good, so I will show you again a new TA here.
Okay - into the chart, Where are we now? After a quite boring weekend with lots of sideways no-action we started to move into a small downtrend channel ( pink channel lines ). Today we broke out upward. This is a often ( or better typical ) seen behaviour of an descending channel: the breakout upwards.
Today I saw a lot of people here calling "MOOOOOOONNNN". I just can say,..... be CAREFUL with Moon-Dreams........
As you can see, the uptrend today exactly ended at the downtrend - line of the bigger ascending channel in my chart ( black line ).
So what does this mean? We had a breakout of this bigger ascending channel yesterday 13hr UTC + 2. The upward today is, in my opinion, just the retest of this outbreak from the ascending channel yesterday. So I expect a rapid downtrend from here. Target at around 7200 ( blue line ) This blue line is the big support line of a massive Triangle. If this 7.200 will not hold I see a fall down to the red line at around 7.050 . This would be a 3rd test of the big down-trend line ( red ) of BTC.
In the comments of this TA I will show you the red and the blue line.
Attention: the green circle shows a possible right shoulder of a big H & S. But to this I will do an extra TA.
So, in my opinion we will see at first a target around 7.200 or 7.050. If we should go there, I will update this TA here.
Okay, as always, no trading advice, just educational. Trade safe and trade on your own risk.
All the best for you all here,
Sascha
A Like and a Follow makes me happy.
again a quick TA to BTC. My past TAs went quite good, so I will show you again a new TA here.
Okay - into the chart, Where are we now? After a quite boring weekend with lots of sideways no-action we started to move into a small downtrend channel ( pink channel lines ). Today we broke out upward. This is a often ( or better typical ) seen behaviour of an descending channel: the breakout upwards.
Today I saw a lot of people here calling "MOOOOOOONNNN". I just can say,..... be CAREFUL with Moon-Dreams........
As you can see, the uptrend today exactly ended at the downtrend - line of the bigger ascending channel in my chart ( black line ).
So what does this mean? We had a breakout of this bigger ascending channel yesterday 13hr UTC + 2. The upward today is, in my opinion, just the retest of this outbreak from the ascending channel yesterday. So I expect a rapid downtrend from here. Target at around 7200 ( blue line ) This blue line is the big support line of a massive Triangle. If this 7.200 will not hold I see a fall down to the red line at around 7.050 . This would be a 3rd test of the big down-trend line ( red ) of BTC.
In the comments of this TA I will show you the red and the blue line.
Attention: the green circle shows a possible right shoulder of a big H & S. But to this I will do an extra TA.
So, in my opinion we will see at first a target around 7.200 or 7.050. If we should go there, I will update this TA here.
Okay, as always, no trading advice, just educational. Trade safe and trade on your own risk.
All the best for you all here,
Sascha
A Like and a Follow makes me happy.
Comment:
IT happend,...... lets see where we will go, next stop should be at around 7250. If this price will also not hold, we will fall down to 5 -4 K area.
All the Bes for you all,
Sascha
IT happend,...... lets see where we will go, next stop should be at around 7250. If this price will also not hold, we will fall down to 5 -4 K area.
All the Bes for you all,
Sascha
Comment:
Wow, nearly perfect touching. Now we have to see if this line will hold or if we have to go down to the red support line. If this happens, this line MUST hold, otherwise I see a fall to 5 -4 K. I will do a new TA throughout the next hours.
Stay in contact with me. As always, no trading advice, just educational. Trade safe and on your own risk.
Allö the best for you all,
Sascha
Wow, nearly perfect touching. Now we have to see if this line will hold or if we have to go down to the red support line. If this happens, this line MUST hold, otherwise I see a fall to 5 -4 K. I will do a new TA throughout the next hours.
Stay in contact with me. As always, no trading advice, just educational. Trade safe and on your own risk.
Allö the best for you all,
Sascha
as you can see in my chart we are on the bottom of a big ascending channel. Normally ascending channels show breakouts to the doenside. We are near the bottom, so watch carefully the pricedevelopment in the next Hours. Dont go short to early, wait for confirmed candles if breakout comes.
All the best, and trade all safe,
Sascha