mrhashem

Bitcoin LongTerm Analysis

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Today I'll be watching Weekly, Monthly, and Bimonthly timeframes and get trigger trades from a Daily perspective.

Bitcoin's weekly candle closed with a good posture and didn't break the $11500 level. also on the Monthly, it is literally an uptrend and $14000 target. But in the 2M it's still processing. If the 2M candle closes like this, the 2M timeframe will be in an uptrend and again $14000 target (in the longterm).

So if a Daily closes below $10900, it's probable going to fill the CME gap @ $9600 ~ $9700. (and then we must re-analyze the charts)
And if a Daily candle closes above $11900 (or better $12000), probably bitcoin starts to test $13000 and $14000 in the mid and long term.

Because of the Nasdaq and SPX indexes and the bullish posture of them, the above breakage of bitcoin is more probable than correcting below $10900 ~ $10800.

Without Risk and Position Management, You WILL Lose Money.
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