milanjelic
Short

Bitcoin instability (including drop levels) BTC/USD deflation

BINANCE:BTCUSDT   Bitcoin / TetherUS
]Hi guys.

Welcome to this update on the most accurate Bitcoin analysis on TradingView :)

This is a follow up on my previous idea regarding further BItcoin deterioration which will happen in the coming days, see previous idea at:



So far, Bitcoin has dropped nearly 10% from the previous idea's level, while altcoins deflated three times more during continual shake offs but we have more to go ;)

If you like an idea, please remember to press the LIKE button, it will motivate me to continue posting and offering you the best possible advice.

In this post I will be brief, because there is not too much to add to the analysis posted on the 2nd October.

Here are some interesting facts:

*Bitcoin failed to breach 6750 level in four attempts and failed to do it.

*Mathematically, Bitcoin should revisit 6280$ right after four consecutive failed attempts to breach 6750$. Had inter-consolidation on 6380 and continued to push fourth time towards 6800 (while continually making LH during each attempt. I find that behavior very unusual and after sinking from 6800 (as described in prevuious TA) revisited main support 2 times.

*It seems like it has more room to go. Some sidewalk (while rebouncing under 6380 while failing to breach it and then i would say 6.100$ approximately as a first rebuy,
Rest of the market should follow, therefore, my take is we had more room to go.

*I would not rely on Bitcoin making some significant movement here. Weekly made lower high 3. rd week consecutively. 6650 seemed like imaginary border in the moment of writing and my personal take is that @Bitcoin has nowhere to go but down even now when rebouncing betweeen 6250-6350 level.

Most likely we will see further lows on BTC (as per chart decribed).

Don't rush with rebuy (you saw yourself, had you rebaught 8 days ago you would have already lost 10% of nominal USD porfolio.

Good luck and remember to follow me to receive the latest updates instantly. If you like my idea, LIKE it with a button (smiley)

Positive feedback and constructive criticism are important to authors and the community.

Thanks for reading.
Trade active: Bitcoin will fail to breach 6380 (be patient), it will be declined fromtowards 6130 and then, most probably will try to regain 6530-6550 (as making rebound from that point). That is very good entry on stable coin to gain nearly 10% and liquidate at the bottom.
It should pierce 6380$ as having momentum because of rebound and stop as mentioned above.
Trade active: *My personal take is that you should not bait stories about bullishness, since in three attempts Bitcoin wasn't able to breach 6380 and it will be declined toward lower level in order to gain that momentum needed for piercing that resistance.

*Alts should recover +10%, so if you pick stable gainer (XRP, XLM), you could profit significant.
*Feedback and constructive criticism are important to authors and the community.
Good luck
Trade closed: target reached
It was a perfect analysis. Over 1 month.

* Fail to breach 6380 (be patient)
// target reached, 2 weeks of sideway !!!

* it will be declined fromtowards 6130
// target reached

*Most probably will try to regain 6530-6550
// target reached !

* That is very good entry on stable coin to gain nearly 10% and liquidate at the bottom.
// 18% liquidation !!! better than expected

+1 Reply
milanjelic harlmington
@harlmington,

Exactly mate.

Good one and highly accurate.
+1 Reply
Bulls-eye!
+2 Reply
milanjelic TauCeti
@TauCeti,

Thank you :)
Reply
thanks a lot for sharing your work !
regards
+1 Reply
milanjelic Mysticeti
@Mysticeti, you are welcome.
Happy earnings :)
Cheers mate.
Reply
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