now in my previous update of Same old pattern, prices so precisely followed this pattern but movement bit shifted in August, i've expected lower lows after 13k rally, but due to trade war and dump in Yuan has offered huge liquidity for Bitcoin , which gave bulls another opportunity to cash profits.
Now the previous pattern has only been taken from Bitcoin's price history, but this time i've analyzed several other markets and found that, same old pattern works in almost every market, but sometimes it also extends from 2-3 rallies, creates more strong belief in next Bull market, but in every case it eventually ends as a Bull trap.
now maybe you'll ask me, "husain why are you always so on Bitcoin" here's the reason from me, why am still so on Bitcoin , this idea which I published in may when Bitcoin was hovering around 7800, i had predicted this rally exactly towards 13500 and then a massive drop from there, so for me am below 14k level, that's it...
ok so now moving to the top chart, i didn't left so much to write here, you can find all the patterns in chart, you'll amaze that how this pattern has almost similar formation in almost every market and now clearly the direction from this pattern is suggesting for higher lows.
now moving towards the higher degree charts
monthly chart of Bitcoin is indicating for a retest of 8EMA which is right now sitting between 8500-8000, so most likely in September we could see the 8k level
meanwhile weekly chart has strong support on 21 between 8950-9150, so this could be most likely short term for bulls, it will be interesting to see the fight between bulls and bears at this level, coz lots of traders could get rekt here;)
here's the , clearly 100 daily MA has broken and next major support could be 200MA which we could get between 7800-8000 in coming days, maybe mid September
getting in 4h chart so we've beautifully completed the W and X wave corrective formation and now we've entered in a Y wave which will brings us to the new lows, double 3s corrective formation has confirmed here, so as the new lows. the of 9950-10150 will now acts as a major , yet next 3 major support zones are clearly mentioned so keep eye on them.
in my previous update i suggested a bounce towards 11200 level, although i already got the sell signal from oscillators as you can see above, but i was lil concerned with the BAKKT news so that didn't took any position, and that was a damn good descision. the data from oscillators you'll find a bit different with yours coz i use my own custom settings for indicators.
meanwhile my custom indicator perfectly got the trade at the right time, everytime when prices left the red zone its a strong signal for trend reversal:)
alright guys, that's all for now hope this idea will help you to make huge hug profits like the previous one's;), dont forget to hit like and support us so we keep bringing awesome new trading ideas for you, follow us for more future updates, and do comment your opinion, we appreciate your response:)
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thanks you, this is Husain Zabir signing out
watch out the support
you need to definitely watch this chart, prices holding a serious critical level
my custom indicator giving for a sell signal, stay safe guys
10800 - 10950 MAJOR RESISTANCE ZONE working exactly as predicted, tested multiple times as support and resistance which you can clearly see in above chart, meanwhile my premium members get a nice entry to short in above zone and made some really nice profits;)
right now my custom rsi is moving flat in the red zone,so maybe we'll get another pump towards 10800-10950 zone and when this line will move in purple zone from red one than it will be a sell or short signal
all the bullish predictions same as after burn of 2017s bull market, eventually what happened next, no need to mention
closing my shorts here after breaking this channel, will wait for the price action in coming days
Damn my custom rsi is just killing it, more than 50% profits for my premium members;]
I've decided to reserve my indicator for my premium members, if ypu wish to join contact me on telegram
my custom indicator perfectly caught the trend and my premium members made immense profits with from xbt, its not for sale totally reserved for premium members if you want to take benefit from this join our premium service, contact me on telegram;)