heish

BTCUSD, breakout and reached target I

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hi!


BTCUSD formed a triangle, breaking below and retesting the edge of it nicely on the 2 hour time-frame. From there on it has reached the first targets where we have seen a period of profit taking at half way to the first target zone in the form of buy orders being executed.

Since we have approached the first bigger scale target traders are likely to take profit here, forming a bullish chart pattern on the lower time-frame around this level.


Have an eye on those lines in conjunction with different time-frames. A reversal pattern as well as continuation patterns are likely to be formed around these levels.


Thanks for reading


-heish





If you would like to learn about technical analyses please visit George Beaulieu on Youtube and leave a like.

Comments

Does that means that the btc will go back to his previous down prices ? And it will probably take the same time he took to pump again ?
+1 Reply
heish Crypt0_M1nd
@Crypt0_M1nd, the monthly trendline has been broken ( an been retested), indicating that there is a downtrend following up. I have given the targets in my post and where the price will go afterwards remains to be seen.
Reply
Good analysis my friend.
Reply
heish Bullandbeartrading
@Bullandbeartrading, thanks mate. Your point of view made me look into my chart again. Therefore thank you too.
Reply
Well done! Keep up the good work for the tradingview community!
Reply
heish TradingShot
@TradingShot, thanks, it is highly appreciated.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out