The_Greek_Trader

All BTc lovers (like me) please be carefoul..!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hello traders!
It's been a while since i posted here and a lot of you have some complaints but i have to run my office work with my clients plus the Greek trader site is underway!
So let's get to the point!
I am long BTC since 6k figure but it's about time to lock some profits!

Technical Observations

1.We are heading to the previous all time high of the BTC at 20k mark from December 2017.
A lot of trapped traders for years might find the opportunity to sell.

2.We had a H&S pattern on the weekly chart as i have drawn on the chart.
If we project the distance from the neck to the head in order to find the TP of the pattern it coincides with the previous highs!

3.Fibonacci extensions from the last dip also coincide with the previous highs!

4.We have a big MACD and volume divergence which is crucial for the prominent massive double top pattern which is going to be created.

So please traders lock some profits with trail stop loss or partial close of the longs.

Possible short trade NOT yet confirmed.
Trade closed: stop reached

Comments

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