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ArShevelev
Jul 1, 2018 11:02 AM

Bitcoin: Flip-Flop Edition 

Bitcoin / U.S. dollarBitstamp

Description

Hello!
Multi timeframe analysis is there.

Recently we meet Local resistance at $6514 (red horizontal line) Which is bottom of Descending Triangle (Red on 2D chart at left).

Now it need to break $6514, to move on higher resistance $7352, which will be hard for bulls IMO.

If bulls will fail breaking this resistance, we will probably see reloaded bears for final rush to The Trend and Global Support, where the huge demand is located:
Global Support $4790-5000

Watch price movement on 1h chart and wait for price action in Yellow Circle, as here we've got 2 resistances.

Good luck!

Learn more from previous ideas:
June 13, Wyckoff Accumulation Process for BTC:


June 26, Bitcoin Price Prediction for 2018:

Comment

Price near Flag support

Comment

Possible Movement, same fractals:

Comment

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Comment

pump

Trade active

Broken resistance, active 7200 target
Comments
UnknownUnicorn2138412
Wow, I really like this analysis. Appreciate.
ArShevelev
@pcarballeda, thank you
TradeClass
I am in agreement with this forecast and analysis.

The sweet spot of global support near 5000 is accurate, as that I read 20 new articles every day from reliable sources.

If anyone is NEW to Tradingview

I have an ongoing series of training modules and sections on how to get the best out of Tradingview

There is no other author at this time providing such a comprehensive review

potadahead
@TradeClass, yes everybody tradeclass is the man
TradeClass
@Mauurits, no I am trying to say TRUST the work of A.Shev over my work. LOL
DeanKueh
What do you think of my chart?
<!-- TradingView Chart BEGIN -->
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<script type="text/javascript">
var tradingview_embed_options = {};
tradingview_embed_options.width = '640';
tradingview_embed_options.height = '400';
tradingview_embed_options.chart = '2D6IGBIK';
new TradingView.chart(tradingview_embed_options);
</script>
<p><a href="tradingview.com/chart/BTCUSD/2D6IGBIK-BTC-USDT-Support-Zones-Where-do-we-go-from-here/">BTC USDT Support Zones, Where do we go from here?</a> by <a href="tradingview.com/u/DeanKueh/">DeanKueh</a> on <a href="tradingview.com/">TradingView.com</a></p>
<!-- TradingView Chart END -->
PoupeBitcoin
Everything indicates that we are on an upward reversal channel ...
DvdGoldberg
Thank you for you analysis.
I assume that we still might drop to 6300 and then jump up to 6900-7000. So, I am long. And what do you think?
PoupeBitcoin
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