Hey-hey!
Before the end of the year, I would like to share my thoughts about short-term Bitcoin direction because we are on the confirmed triangle and let's see who wins the last battle in 2018, bears or bulls?
The triangle chart pattern is very explosive for the price if it reaches into the triangle tip as it is approaching now!
I can say "confirmed triangle" because of the touches. Here is the bigger picture:
The price has drawn almost a perfect triangle because we have multiple touches on the upper trendline which works as resistance and we have two-three clean and strong touches on the lower trendline. All right, let's start with confirmation areas!
BUY AREA (The green box)
Buy area is just above the triangle upper trendline and just above the 100 and 200 EMA's on the 1H timeframe. To confirm bullish price action we need at least 1H candle close around the $3,810 level. Then we have a breakout from the triangle, we have a breakout from the Falling Wedge and we have above the important EMA's (plus some short-term higher highs) This move will guide us to the next strong resistance at $3,927. This is the safe first take profit area, and I will recommend partial take profit area.
Scenario: partial take profit, drag the SL to the zero and let the freeroll begin!
Next targets:
-$4,000
-$4,200
SELL AREA (The red box)
Sell area is just below the triangle bottom trendline which is pulled from the bottom and just below the two strong support level. This scenario would be even more powerful because of the strong areas inside the triangle and after the triangle - actually can't say "stronger" because if we make a breakout upwards then we have also made a breakout from the continuation pattern Falling Wedge which will support that move to the major target area! Sell is triggered after You see at least a 1H candle close $3,685 or below that. If the price manages to close lower than those levels then sell has triggered and the first target would be the well-known super-strong (:D) support level at $3,580!
Next targets:
-$3,500
-$3,400
I wish You an amazing New Years Eve! ;)
Please, don't forget to LIKE, COMMENT & FOLLOW!
Thank You for your support, I really appreciate it!
Tomorrow is the first blank page of a 365 page book. Write a good one.
CHEERS!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Before the end of the year, I would like to share my thoughts about short-term Bitcoin direction because we are on the confirmed triangle and let's see who wins the last battle in 2018, bears or bulls?
The triangle chart pattern is very explosive for the price if it reaches into the triangle tip as it is approaching now!
I can say "confirmed triangle" because of the touches. Here is the bigger picture:
The price has drawn almost a perfect triangle because we have multiple touches on the upper trendline which works as resistance and we have two-three clean and strong touches on the lower trendline. All right, let's start with confirmation areas!
BUY AREA (The green box)
Buy area is just above the triangle upper trendline and just above the 100 and 200 EMA's on the 1H timeframe. To confirm bullish price action we need at least 1H candle close around the $3,810 level. Then we have a breakout from the triangle, we have a breakout from the Falling Wedge and we have above the important EMA's (plus some short-term higher highs) This move will guide us to the next strong resistance at $3,927. This is the safe first take profit area, and I will recommend partial take profit area.
Scenario: partial take profit, drag the SL to the zero and let the freeroll begin!
Next targets:
-$4,000
-$4,200
SELL AREA (The red box)
Sell area is just below the triangle bottom trendline which is pulled from the bottom and just below the two strong support level. This scenario would be even more powerful because of the strong areas inside the triangle and after the triangle - actually can't say "stronger" because if we make a breakout upwards then we have also made a breakout from the continuation pattern Falling Wedge which will support that move to the major target area! Sell is triggered after You see at least a 1H candle close $3,685 or below that. If the price manages to close lower than those levels then sell has triggered and the first target would be the well-known super-strong (:D) support level at $3,580!
Next targets:
-$3,500
-$3,400
I wish You an amazing New Years Eve! ;)
Please, don't forget to LIKE, COMMENT & FOLLOW!
Thank You for your support, I really appreciate it!
Tomorrow is the first blank page of a 365 page book. Write a good one.
CHEERS!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Your "LIKE" makes my eve ;)
Cheers!