Tommy_Trader

How is our friend Bitcoin doing?

Tommy_Trader Updated   
BITFINEX:BTCUSD   Bitcoin
Today I performed TA in a bigger picture with Bitfinex daily chart. It currently touched the major resistance region. The fact that Bitcoin is getting higher highs every day, it seems like a positive signal. However, many indicators and theories (including Elliott) are implicating that correction might come soon. Moreover, the targets from the inverse head and shoulder at 5k~6k region, have been reached which means that many traders who have entered position from below with the pattern perspective, might be taking profits around these region. Therefore I still recommend conservative trading strategy. Maybe conservative traders can enter when Bitcoin breaks above yellow trendline and retests it.
More detailed explanations are in the chart above.

Please like my posts and follow me for more TAs.
Comment:
Sorry my yellow mid-term trendline was not drawn correctly.
Here is the chart that is correctly drawn.
Comment:
Comment:
Here is my Elliott wave counts and my mid-term targets for Bitfinex chart.
Comment:
Here is my short-term analysis for Bitcoin for Bitmex.
Comment:
Here is my detailed wave count for xbtusd 3min chart.

Youtube: bit.ly/Tommy_TV
Telegram: bit.ly/Tommy_Main
KakaoTalk: bit.ly/Tommy_kakao (PW:1324)

Free VIP 및 강의 문의: bit.ly/Tommy_VIP
트레이딩 MBTI 테스트하기: tradingmbti.waveon.io/
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.