I'm here again today with another TA on BTCUSD
This is a not so long TA, it just shows the 2 'main' on BTCUSD .
I expect price to be denied at the top yellow line at about 8.6k then make it's way to the blue box.
The targets I've set are the white boxes, which are the end of the smaller and bigger (line with break is the smaller and the normal line is the bigger, I think you get it)
Note: For this targets to be reached price MUST get denied at the top yellow line.
Be safe for fake breakouts.
This 'pump' that took price above the main downtrend (green line) is making me confused ("lost") I wasn't expecting this in any way.
My advice for now: Do nothing.
You can check my last Idea on BTC on the related tab section.
This is one of many ideas I've made, you can check my other older Ideas just open my profile and see!
This is my own personal opinion! Don't take what I say for granted, this is NOT financial advice. Don't spend what you can't afford to lose, and remember, patience is a key on this Crypto Market! Hold is life!
Trade safe and have a nice day!
Testing the downtrend we are waiting for a close bellow it
I see head and shoulders which should take us to the blue box.
Another Bear flag in the making
Blue box reached as predicted, next stop is the yellow line with breaks (wedge)
Support is at 7.4k (white line)
This pump invalidated the bear flag.
As you can see looks like the downtrend did it's job and rejected a breakout.
Now we wait.
It made it's way to the top of the wedge, closed above it now it's retracing a bit.
Wait for a confirmed breakout (closes above it)
Wait my friends!
Looks like support was found on the top of the wedge
Looking forward to this signals:
Stoch RSI crossing above 20
MACD bull cross
Upward move to continue, I see Bull flag.
This are the levels to look for either Bull or Bear
For Bull we have the red lines (and fibs) acting as resistance and green acting as support, the wedge and the downtrend also act as support.
For Bear we have the end of the wedges (blue) for targets, they are still valid ;)
The bigger fib goes from 6k to 11.7k
Heres the smaller fib: it covers this run from 7.2k to 8.4k the blue lines could be possible retracements for the move.
Reading it all and dropping a like would be great!
Here's the link (last one had a mistake it's now fixed)