I know what you all want to see. Nice log-scale charts with epic moon potential. Lots of emojis and rockets taking off. In this analysis I will take you through a realistic scenario of what will happen to BTC.
It will have no emojis, no rocket ships. I don't care if this gives me less thumbs up on Tradingview compared to other traders. In this analysis I want to be realistic.
The price has just made a huge move. This is absolutely unsustainable. The bulls spent all their money, and the bears are still crying in their beds. It is super common to see a moment of strong consolidation after such a surge in the price. Like before I think a consolidation will happen too now.
You don't trade these periods of consolidation by holding a coin. You don't simply hold BTC now hoping it will go up again. We don't know the next direction. You're best suited to have everything in a neutral coin such as USDT. We need to wait until we gather more evidence for the next move.
If you do want to trade, we can look at smaller timeframes. There is fantastic channel opportunity with lows around ~12750 and highs around ~13250. You can get many scalp trades in within the area.
Be careful everyone, I'm super happy that BTC is bullish and very excited about the industry as a whole. But I also think that Paypals announcement is very exciting. But be careful, and if you weren't in already, honestly, you are too late to enter now.
Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me.
- Trading Guru
-------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
That was great and absolutely realistic. thanks for sharing
Trading-Guru
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@TiranTrading, Perhaps not as sexy as all the other mooncharts, but I am happy someone appreciates it!
TiranTrading
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@Trading-Guru, I'm just thinking about one girl when you're talking about mooncharts who is sadly one of top authors of TV. I said sadly because there is no content in her charts, it just has beautiful and colorful format.
ryanthomas92
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In a short at the moment looking to take profit around 12750.
TiranTrading
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and please have a look at this chart, I'll be happy to know your opinion
Trading-Guru
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@TiranTrading, I see you have been drawing your inverted head and shoulders with a very steep angled trendline, this is not that common. Also, apart from the H&S I don't really see any other clear touchpoints with the trendline. How did you validate that trendline?
TiranTrading
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@Trading-Guru, thanks for your comment, yes the main point of my idea was the inverted H&S and yeah that trendline isn't much valid but here's the touchpoints I've found
Trading-Guru
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I will be posting more of these regularly, so follow me to find out about great trading opportunities
Trading-Guru
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I would also like to remind you that I make all of this available completely for free. If you like my work, you can help me out greatly by giving me a thumbs up on this idea
Trading-Guru
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How would you have charted this? Feel free to post a link to your own idea here as well