PetrockFxTrading

BTCUSD LIKELY MOVE - LONG TO $57,000 OR SHORT TO $38,000

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Right here is a my idea on Bitcoin . As seen on the chart, price is in an uptrend and I expect price to continue in that direction.

But if price breaks the lower trendline downward, then I expect price to follow the double top (M pattern) and approach the neckline at $45,000. If it breaks the neckline downward, then I expect a full M pattern to head to $38,000.

The yellow lines are the previous key support and resistance level price may encounter ahead of it.

What do you think?

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Comments

Thanks for posting your chart and analysis. Yeah, this one is tough to call at the moment, and I agree the trend is up. I feel like it can rip my face off in either direction, but given the trend, I'm hodling and buying more at meaningfully lower prices if they occur.
+1 Reply
@theworldinscents Thank for your opinion. I really appreciate. Help a mate out, I want to buy too but no funds☹️
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