Woolhead

BTC long (term) prediction (based on my previous correct ones)

Long
POLONIEX:BTCUSDT   Bitcoin / Tether USD
This update is an extension on previous long term analyses, although this one is more longterm. The same support lines are used and are still followed by the market, with one added at 6k. RSI supports upward movement, the MA (50) supports it as well. The support around 8.4-8.5k is holding. If it holds, it'll likely go up to 9.1k, since that one has already been breached, and the indicators support upwards movement, it'll likely move to the new resistance at 10.9k. Gains of around 9% can be made in the first part of the trade. 19% can be made on the second trade. Set stoplosses.

To conclude, the RSI together with the support and resistance theory support a test of support at ~8.4k. The MA(50) together with the support and resistance theory support a test of resistance at 9.1k. It'll move to 10.9k if 9.1k holds well enough.

Keep an eye on the description comments for changes.

If I made you money, please consider buying me a beer to make my day:
LTC: LfbKuDHZaDTRUV9pXJuWCUcG14XLrGtBcs


Keep in mind to always set stoplosses and know the risk of the volatile market. Technical analysis is just an indication and is not a guarantee.
Trade closed: stop reached: It fell below support. Rebuy at 7.6k. It'll likely rebounce to 9.1k after hitting 7.6k.

Comments

thank you @woolhead, I hope you'd make enough for a few cases of beer here, but thank you for sharing :)
+1 Reply
Woolhead yuriysadoma
@yuriysadoma I don't have much to invest due to study loans, but I'll be getting a case of beer with the profits for sure :P
You're welcome for the chart!
Reply
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