Bitcoin it's drop!!! That was a bear market trap!!!
Waoh, today I see that Bitcoin make invalided this analysis for long position from the #31,000 USD that in the past days, we earn profit until we see the same day a strong rejection and now, BItcoin it's drop!!!
This it's the bullish rising wedge and as we noted, we make a fake break out of this pattern and well, now, Bitcoin it;s leading again the $31,000 USD. But if Bitcoin break down this level, my next level it's to watch a Bitcoin at $27,800 USD, but we use Fibonacci in Daily chart becuase we coudl see any possible entry in the $27,800 USD support important or the 0.618% of Fibonacci, in the price of $26,100 USD approximately to entry to long position!!! I do not going to trade Bitcoin until we see any confrimation if we break out the level of $31,000 USD, I will going to short Bitcoin toward the $27,800 USD.
i'd like more this timeframe at 3 Daily chart. As we are into this bearsih channel, we could see a next long position in the near term.
In summary, Bitcoin it's drop and we see a fake out of the break out of this bullish rising wedge and the price make rejection in H8 or Daily timeframe if we look with very carefully the price action that they speak us. And then, I do not reccomend to short now, just wait for the next entry in long to $31,000 USD again or wait any break down of this level to short Bitcoin toward the $27,800 dollars.
Guys, if you like this plan and overview, please comment below what it's your plan?
This it's the bullish rising wedge and as we noted, we make a fake break out of this pattern and well, now, Bitcoin it;s leading again the $31,000 USD. But if Bitcoin break down this level, my next level it's to watch a Bitcoin at $27,800 USD, but we use Fibonacci in Daily chart becuase we coudl see any possible entry in the $27,800 USD support important or the 0.618% of Fibonacci, in the price of $26,100 USD approximately to entry to long position!!! I do not going to trade Bitcoin until we see any confrimation if we break out the level of $31,000 USD, I will going to short Bitcoin toward the $27,800 USD.
i'd like more this timeframe at 3 Daily chart. As we are into this bearsih channel, we could see a next long position in the near term.
In summary, Bitcoin it's drop and we see a fake out of the break out of this bullish rising wedge and the price make rejection in H8 or Daily timeframe if we look with very carefully the price action that they speak us. And then, I do not reccomend to short now, just wait for the next entry in long to $31,000 USD again or wait any break down of this level to short Bitcoin toward the $27,800 dollars.
Guys, if you like this plan and overview, please comment below what it's your plan?
