BITCOIN DIAMOND CONFIRMED - LOWER TARGETS AHEAD!
Hello dear traders,
Here is an update for Bitcoin BTC on the daily chart.
After further analysis I come to the consultation that after several heads shoulder patterns (that are all still valid) we now have a Diamond in Bitcoin as well.
I have already discovered one in Ethereum and you can follow that on my recent posts.
I will keep this updated but for now the targets are:
Target 1 42000
Target 2 35000
Above 59000 this pattern expires.
Volumes are high in the drop and the other patterns make the probability even higher.
Patterns which fail like head and shoulder patterns but also diamonds can show a quick and agressive countermove. This is always pretty clear to see.
Yes all patterns can and do fail, keep that in mind and you best always place stops with a maximum risk of 1% per trade. If you don't do this, you risk to end up with big losses. Different of course if you want to buy BTC for long term investment, buy and hold. In that case there are no stops at all but not intrading.
This is purely my idea about ETC and not investment advice. As a trader you should always do your own research and try to protect your capital with money management.
Here is an update for Bitcoin BTC on the daily chart.
After further analysis I come to the consultation that after several heads shoulder patterns (that are all still valid) we now have a Diamond in Bitcoin as well.
I have already discovered one in Ethereum and you can follow that on my recent posts.
I will keep this updated but for now the targets are:
Target 1 42000
Target 2 35000
Above 59000 this pattern expires.
Volumes are high in the drop and the other patterns make the probability even higher.
Patterns which fail like head and shoulder patterns but also diamonds can show a quick and agressive countermove. This is always pretty clear to see.
Yes all patterns can and do fail, keep that in mind and you best always place stops with a maximum risk of 1% per trade. If you don't do this, you risk to end up with big losses. Different of course if you want to buy BTC for long term investment, buy and hold. In that case there are no stops at all but not intrading.
This is purely my idea about ETC and not investment advice. As a trader you should always do your own research and try to protect your capital with money management.
Comment:
Coming closer to the targeta guys! Be also prepared for sudden counter trend moves so stops are needed.
Comment:
Dear traders,
Our 1st target has been hit exact as you can see in the screenshot below.
Our 1st target has been hit exact as you can see in the screenshot below.
Comment:
Dear traders,
Here is a quick update for Bitcoin
We may see a rebound here. We are seeing the formation of a falling wedge here.
Not without risk but Bitcoin is now very oversold again and we have a positive divergence in the RSI!
Always use stops and money management!
Trade safe guy's! Wish you good profits!
Here is a quick update for Bitcoin
We may see a rebound here. We are seeing the formation of a falling wedge here.
Not without risk but Bitcoin is now very oversold again and we have a positive divergence in the RSI!
Always use stops and money management!
Trade safe guy's! Wish you good profits!
Comment:
So here I have a target for this possible bounce and I think it will go until 50.000 USD.
Comment:
This is the 6th correction in 6 months. So sitting on your hands and wait untill you have these moments, you can make good profits!
Comment:
IMPORTANT UPDATE
Guys, I have analyzed the market and I come to the following conclusion for now.
I personally close my LONG positions if the price of Bitcoin closes below 40000 with a day candle.
For the ALT coins this is also very important because if Bitcoin starts to dive then the ALTS will go down much faster.
However, I am now expecting a recovery and that is perfect for the ALTS an BTC but it is temporary. The long term picture looks bad for Bitcoin.
I will keep you posted but note that level of 40000! Recovery I expect in Bitcoin to 50 max 52000 USD before we start another ride down!
Disclaimer Traders this is my view no advice to buy or sell. Also, always do your own research!
Guys, I have analyzed the market and I come to the following conclusion for now.
I personally close my LONG positions if the price of Bitcoin closes below 40000 with a day candle.
For the ALT coins this is also very important because if Bitcoin starts to dive then the ALTS will go down much faster.
However, I am now expecting a recovery and that is perfect for the ALTS an BTC but it is temporary. The long term picture looks bad for Bitcoin.
I will keep you posted but note that level of 40000! Recovery I expect in Bitcoin to 50 max 52000 USD before we start another ride down!
Disclaimer Traders this is my view no advice to buy or sell. Also, always do your own research!
Trade closed: target reached:
Traders my target hes been reached and now we need to see and analyse the new structure. I will post new analysis soon.
Congrats if you followed this pattern because it kept you out of the market or you made money shorting it.
Trade safen and wish you all good profits in this difficult market!
Congrats if you followed this pattern because it kept you out of the market or you made money shorting it.
Trade safen and wish you all good profits in this difficult market!
Comment:
Here a screenshot with the results of the Diamond predicted price target.
What do you guys think about it? A few years ago the same thing happened with the cryptos. Is it different this time? I personally think not. We are in a hype. A hype that might last even longer. But it's not going to stay the way it was. This rise is too fast in too short a time. Prices always come back to balance. If we know where Bitcoin and Ethereum stood 14 months ago you will understand what I mean.
Bitcoin stood 3156 in 2020 and Ethereum 78 USD.
I would love to hear your opinions for a discussion on the level of Bitcoin and Ethereum and especially why you think of a drop or a rise! That is interesting because I respect all idea's. Not everybody need to have the same view. That make the Bulls and the Bears. The balance in the market. A fair price for the moment.