My first idea on Bitcoin. I think we have reach the top of the channel and a small correction is due (around $1550) before trying to reach new highs ($2K+ ??)
This is not a trading advice, just a personal opinion.
Please feel free to comment and let me know what you think.
Trade safe.
This is not a trading advice, just a personal opinion.
Please feel free to comment and let me know what you think.
Trade safe.
Comment:
Touched the top of the channel. Is it time for the correction ?
After retracing a bit more accurately the trend lines and extending them, i found out they all overlap at the $2400 mark ( Is that a coincidence ? )
After retracing a bit more accurately the trend lines and extending them, i found out they all overlap at the $2400 mark ( Is that a coincidence ? )
Comment:
Small chart update, still waiting on how this will play out.
ETF decision is not too far away and will drive the price up or down.
ETF decision is not too far away and will drive the price up or down.
Comment:
It didn't go as low as expected and bounced of the support line.
By doing so, a new trend formation seems to have appeared.
We are approaching the previous higher trend line which was a strong resistance before. Let's see if it breaks it and completes the 5th wave or if we have started a totally new cycle
By doing so, a new trend formation seems to have appeared.
We are approaching the previous higher trend line which was a strong resistance before. Let's see if it breaks it and completes the 5th wave or if we have started a totally new cycle
The green channel is the trend who started mid last month.
2 approach here :
- 1 : We stay inside the inner blue channel and wave 3 is about to complete, which would mean a correction incoming as stated in my previous graph.
- 2 : We break the inner blue channel upwards and the 3rd wave will most likely touch the top of the outside blue channel as below
Good luck and trade safe