Thank you for coming here to read my idea. This is 'Red Apple' publishing my analysis idea from today.
Let's start today's BTC/USD chart analysis.
If you are busy, you can just read below briefly
'1. Briefing '
'4. Strategy'
'5. Summary'
1. Briefing
# Three White Soldiers
# About to break the Neck-Line of Inverse Head and Shoulders
# 4H, Daily Chart is trying to re-enter into ascending channel
2. Day
1) Trend Analysis
try to re-enter into existed ascending channel and there is not much left to 'Long term Up-Trend Line'(from Nov. 2017_blue line)
2) Candle Analysis
Three White Soldiers -> Third candle became quite long candle. it means there is possibility to enter overheating phase.
3) EMA
20EMA(red line) is penetrated and turned up a bit. next resistance EMA is 50EMA(purple line) which is about $6810
3. 4H
1) Trend Analysis
Same as above 'Day analysis'
2) EMA
20EMA(red) crosses above 50EMA(purple) and 100EMA(orange) and soon 50EMA will meet 100EMA
3) Pattern
a.
All marked patterns(wedges, small symmetrical triangle, rectangle, large symmetrical triangle) is penetrated above and now it is retesting upper side after penetrating 'large symmetrical triangle'(red)
b.
Many traders may recognize this patern. Therefore, if it is failed to break Neck-Line of Inverse Head and Shoulders, it will be went down a lot.
4) Indicators
Most of Indicators show it is overbought and CCI shows 'Negative Divergence'.
5) Elliott Wave
If we say it is 3 waves, the target will be about $7785 ~ $8081
6) Fibonacci
now, it is resisted 0.886 ratio
4. Strategy
1) Bullish View :
a. Focus on breakthrough of Neck_Line (at about $6830)
b. It will may move sideways for a while because the moment price range was accomplished concentrately past and Indicators show overbought. Check a pattern in low frame.
2) Bearish View :
a. If it is failed to break Neck_Line, it can be went down a lot.
b. If it is went down, focus on re-bounding from under trend line.
5. Summary
At the moment, many of signals show overbought. Therefore, it may be moved sideways for a while. guess moving sideways is good for reserving 'bull energy' to break-through the neck-line. If you haven't still traded, you'd better trade after break the neck-line. Of course, when it retest the neck line, the trade will be much more safe. it depends on your trading style. Also, do not forget 'Long term Uptrend Line' is located just above the neck-line.
Always, trade safely~. If you help my idea, push~ '+Thumb up, +Follow'
Let's start today's BTC/USD chart analysis.
If you are busy, you can just read below briefly
'1. Briefing '
'4. Strategy'
'5. Summary'
1. Briefing
# Three White Soldiers
# About to break the Neck-Line of Inverse Head and Shoulders
# 4H, Daily Chart is trying to re-enter into ascending channel
2. Day
try to re-enter into existed ascending channel and there is not much left to 'Long term Up-Trend Line'(from Nov. 2017_blue line)
2) Candle Analysis
Three White Soldiers -> Third candle became quite long candle. it means there is possibility to enter overheating phase.
3) EMA
20EMA(red line) is penetrated and turned up a bit. next resistance EMA is 50EMA(purple line) which is about $6810
3. 4H
Same as above 'Day analysis'
2) EMA
20EMA(red) crosses above 50EMA(purple) and 100EMA(orange) and soon 50EMA will meet 100EMA
3) Pattern
a.
b.
4) Indicators
Most of Indicators show it is overbought and CCI shows 'Negative Divergence'.
5) Elliott Wave
6) Fibonacci
4. Strategy
1) Bullish View :
a. Focus on breakthrough of Neck_Line (at about $6830)
b. It will may move sideways for a while because the moment price range was accomplished concentrately past and Indicators show overbought. Check a pattern in low frame.
2) Bearish View :
a. If it is failed to break Neck_Line, it can be went down a lot.
b. If it is went down, focus on re-bounding from under trend line.
5. Summary
At the moment, many of signals show overbought. Therefore, it may be moved sideways for a while. guess moving sideways is good for reserving 'bull energy' to break-through the neck-line. If you haven't still traded, you'd better trade after break the neck-line. Of course, when it retest the neck line, the trade will be much more safe. it depends on your trading style. Also, do not forget 'Long term Uptrend Line' is located just above the neck-line.
Always, trade safely~. If you help my idea, push~ '+Thumb up, +Follow'
Comment:
as i mentioned(overbought), the price is going down to Fib. 0.786. Keep your eyes on ~~
Comment:
It is forming 'Flag Pattern'. Focus on the direction of break through