MVPMC

BTCUSD Breaking the channel or to Wave 5 ?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Short term:
The price is touching the rising channel support,
If it breaks one mid-term level down Target: 8300.
If it continues we'll rise one mid-term level up Target: 12000.

(i'm playing this on either side's breakout, using the opposite side as a stop-loss.)

Mid term:
We're in an uptrend before the halving, if the past is to repeat:
We will see a correction around the halving, bringing BTCUSD back near the long-term rising support.
Offering relatively low prices in a Long term perspective.

In the past the price sticks near the long-term rising support line:
This would be a good time to switch to a strategy that is LONG biased.
EG. mid term RSI with big longs and small shorts.

Long term:
From its Higher low to new highs, negatively correlating with the upcoming 2020-2021 Financial Debt Crash.
Going up to 50.000? 100.000? Who knows, it all depends on the values of BTC and USD

View on other timeframes : Bitcoin / U.S. Dollar (BITSTAMP:BTCUSD) (Temporary)
Comment: Long term View:
Trade active: Short opened @ 9550 / Stop-loss @ 10050
BTCUSD broke the rising channel, taking the short side.
Currently in a Narrowing descending wedge, and will likely form a broadening descending wedge.
On its way down it is likely to bounce between resistance levels.
Trade active: Took some profit near the lower line of the broadening descending wedge.
This will bounce of that line.
Going to re-short @ 9000 , Target still @ 8300
Trade closed: target reached: 𝗧𝗮𝗿𝗴𝗲𝘁𝘀 𝗥𝗲𝗮𝗰𝗵𝗲𝗱 (with some eyeballing)

Will be posting a follow up 2mo

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