Hello fellow traders,
Here's to an other very simple yet very efficient Bitcoin analysis on a daily chart.
After bouncing precisly on my 6k target bitcoin has now hit a major resistance at 8.8k mark. If you read my previous BTC analysis, this scenario was strongly conscidered. Yet again the accuracy and efficiency of those simplistics analysis are key when the market correct hard like that. We have to see the bigger picture to understand where BTC is headed next. After a year of bull, euphoria and joy, don't believe on a reversal so soon. STAY PATIENT AND SHARP.
Bollinger Bands are still very opened wich gives us strong volatility. Remember that for a perfect trade Bollinger bands have to be tight before being breaked upward. My previous XRP analysis gives you a somewhat perfect trading setup as I prefer to have it on a daily chart. Bitcoin still gives us very strong signal of a downfall. SMA50 now crossed SMA200 and this major resistance seem too hard for BTC to overcome. Again, look at the bigger picture and tell me you strongly believe after the gain BTC had in 2017 that the correction is now over and that we are back to ride the bull.
So where is BTC headed next? I believe we will test back the green trendline before going back bull. I know it's a hard call, but i'd rather be prepared to a worst case scenario like that.
Again. We have to look at the bigger picture here. We are hunters, we do not get emotionaly attached to our prey, whatever moves it does we adapt. We stay in control. Our bullets are precious so we shoot only on a strong confirmation of a winning shot. Remember that time and patience are both your friends.
Your beloved,
Zip.
Here's to an other very simple yet very efficient Bitcoin analysis on a daily chart.
After bouncing precisly on my 6k target bitcoin has now hit a major resistance at 8.8k mark. If you read my previous BTC analysis, this scenario was strongly conscidered. Yet again the accuracy and efficiency of those simplistics analysis are key when the market correct hard like that. We have to see the bigger picture to understand where BTC is headed next. After a year of bull, euphoria and joy, don't believe on a reversal so soon. STAY PATIENT AND SHARP.
Bollinger Bands are still very opened wich gives us strong volatility. Remember that for a perfect trade Bollinger bands have to be tight before being breaked upward. My previous XRP analysis gives you a somewhat perfect trading setup as I prefer to have it on a daily chart. Bitcoin still gives us very strong signal of a downfall. SMA50 now crossed SMA200 and this major resistance seem too hard for BTC to overcome. Again, look at the bigger picture and tell me you strongly believe after the gain BTC had in 2017 that the correction is now over and that we are back to ride the bull.
So where is BTC headed next? I believe we will test back the green trendline before going back bull. I know it's a hard call, but i'd rather be prepared to a worst case scenario like that.
Again. We have to look at the bigger picture here. We are hunters, we do not get emotionaly attached to our prey, whatever moves it does we adapt. We stay in control. Our bullets are precious so we shoot only on a strong confirmation of a winning shot. Remember that time and patience are both your friends.
Your beloved,
Zip.