TradingView
creedyincredible
Dec 9, 2018 8:36 PM

My take on BTC Long

Bitcoin / DollarBitfinex

Description


We are getting into an apex area with clear support(3600-3630) and resistance level 3750.
I don't expect we can sustain this slope of growing in a bearish market like now, but we surely can find some support at 3600 level( the worst case I think 3550 will not breached) and continue up the rally.
An retracement of 0.618 - 0.65 from bottom can be the ultimate target to this bull rally.
And then, short it as usual.

Comment

everything just under expectation

Comment

looks like 0.382 retracement yield as a heavy resistance and not enough sign of willingness has shown to prove that bulls are able to break the top resistance. To me 3660+ will be the new resistance level and I would take profit gradually once we hit the region.
Comments
livermorewannnabe
mr incredible never disappoints me
creedyincredible
@livermorewannnabe, last night?
HenryVanEpps
creedyincredible
@HenryVanEpps, nice plot. although we might hit a bit lower than the current low, like we might see a wick below 3000
More