BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hello,
Short post today , sorry for that.
The reversal and dip-buying/bullish break is clear for me now.
I see 10,000 happening very soon based on fib extension and pattern symmetry


Enjoy!
Comment: I estimate the break is about 1 Week until we see us go above 8300-8400 on our way to 10.000
Comment: Channel
Comment: This is important:
- Even if fib, and pattern speaks of this possibility, the tables can easily turn, therefore the logical should be to place a intelligent stop loss.

However the whales are some really annoying people, they could easily break this down only to bring it back up again just like when they liquidated on finex.

As far as this goes for a trade, the R:R might not be sufficient depending on your risk tolerance.

My personal stop loss would be 7200.

Remember that all indicators are saying bearish, my assessment here is only based on 2 indicators which is price action momentum and traditional charting.

As far as validity goes i would like to see a re-test of the ascending support once more, and buy the break from there. Then raise the stop when we break above the 8,3k resistance.
Comment: This will minimize your risk...
Comment:
Comment: Some more clues are here
Comment: Looks like people are acccumulating inside my green little box.
"Hello buy me when I'm inside" - Each time we pivoted inside the price has been pushed outside again.

It' looks like a miniature triangle is forming inside there, juding by this we could easily make a break the next 1-3 candles on the 6h chart.
Comment: Higher lows, lower highs, isnt this exciting?
Comment: Kinda looks bad tbh. No upward pressure or volume right now and the trendline is broken.
Comment: Ok. I reconsider this might be a longer process. I realigned the trendlines here and this might be whats up
Comment:
Comment: 1 day
Comment: There we go. Good job bitcoin, i thought you would fail me for a moment.
Now break out ! ;)
Comment:
Trade closed manually: Taking Profit! Waiting for a better entry.
Turns out..this was spot on
Reply
Decrypt0 oaksacorn
@oaksacorn, I would say neither, it only went sideways pretty much
Reply
you were correct! 1 week to hit 8400
Reply
Decrypt0 PensiveElephant
@PensiveElephant, it happens :)
Reply
Did you buy? If so you're already in profit! :)

Reply
agree
+2 Reply
Decrypt0 superbinge
@superbinge, It's hard to believe, thats why it's also possible. It's more believeable BTC will go to 5k right? It's not going to happen
Reply
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