weslad
Long

Bitcoin: All hope not lost yet.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi guys, I spotted this possible bullish setup after the massive massacre that see BTC losses over 5000$ in values from 10k5 resistance zone .

The charts show case a potential Symmetrical triangle in play with price adhere to the pattern.

All we need now is to see the weekly candle closing back inside the pattern and the bullish view will continues.

The idea become INVALID if we have new low establish.

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Thank you.


Trade active: Looking closely on 3days chart, it shows price forcing its back to hold within the symmetrical pattern. if this candle closes successfully back in will make the bull to have potential for at least a re-test on 9k zone.

Trade active: This is very important guys, keep an eyes on this trendline. If break down then the hope will be lost.

Trade active: Hey guys market closed brilliantly on weekly as we manage to closed above 78.6% fib level and this mean a lot for the possible macro bullish move. Here is my plan, a re-test of this zone is highly possible and that is where I have all my long at the moment with immediate target towards 9k zone.

Trade active: Those that long with this idea should move their stop loss into profit zone, having bought from 4365 level and price currently trading around 53xx.

Great and massive profit guys.

Stay back and look forward for my next market update.
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Trade active
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Trade closed: target reached
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Comments

so after descending triangle and world wide crisis you think it's gonna going up soon? I dont think so... people need money to survive atm.. and not buying speculative investment asset
+15 Reply
weslad RiLe1
@RiLe1, time will tell, although the analysis is well defined for possible action to be taking in any of the direction. Anyway thanks for sharing your view with us.
Reply
@weslad, reality is telling, you don’t need time to tell. People need physical cash not $4000. mythical computer code
+1 Reply
weslad WorldEconomics
Reply
kardia RiLe1
@RiLe1, moon boys can't understand what you are saying.
+1 Reply
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