Hello everyone.
I am trying to explain my view about how I see BTC.
Bull market to ATH on December 2017, above 100 EMA until January 2018.
From there, BTC entered on a bear market (below 100 EMA) inside a dencending triangle (red). As BTC came from ATH, this descending triangle finally broke down (normal behavior in bear market) from 6K to 3K.
Later BTC got a 6 months acummulation period where the mayor volumen occurred as we can see on the chart (3941 USD).
April 2019: New bull market (broke 100 EMA) began with the Green tendency line, until now still holds this tendency (also 100 EMA still holding). This tendency could not break the purple tendency line at 13900 USD. Then BTC entered in a new big descending triangle (Green). However my view now is that this triangle is going to break up (normal behavior in bull market).
If BTC break up, BTC Will have a mayor test of the descending tendency line (red), if BTC would be able to break it, I see at least get ATH again.
If BTC break down (base triangle 0.382 fib at 9300 USD), Support levels: 9100 USD, 8200 USD, 7500 USD, 7000 USD (0.236 fib).
My view now, I see a quick test breaking the Green line and after, the big move up.
If a daily candle close below the Green line, i Will turn bearish.
We are about to see what happens.
Regards,
I am trying to explain my view about how I see BTC.
Bull market to ATH on December 2017, above 100 EMA until January 2018.
From there, BTC entered on a bear market (below 100 EMA) inside a dencending triangle (red). As BTC came from ATH, this descending triangle finally broke down (normal behavior in bear market) from 6K to 3K.
Later BTC got a 6 months acummulation period where the mayor volumen occurred as we can see on the chart (3941 USD).
April 2019: New bull market (broke 100 EMA) began with the Green tendency line, until now still holds this tendency (also 100 EMA still holding). This tendency could not break the purple tendency line at 13900 USD. Then BTC entered in a new big descending triangle (Green). However my view now is that this triangle is going to break up (normal behavior in bull market).
If BTC break up, BTC Will have a mayor test of the descending tendency line (red), if BTC would be able to break it, I see at least get ATH again.
If BTC break down (base triangle 0.382 fib at 9300 USD), Support levels: 9100 USD, 8200 USD, 7500 USD, 7000 USD (0.236 fib).
My view now, I see a quick test breaking the Green line and after, the big move up.
If a daily candle close below the Green line, i Will turn bearish.
We are about to see what happens.
Regards,
Comment:
As I said yerteday, I thought BTC would break the Green line and after, the big move up. I still have the same view while the daily candle close above the Green line.
Trade active:
