im_sng

BTCUSDT Morning Update

BINANCE:BTCUSDT   Bitcoin / TetherUS
Technical Analysis

Hey Guys! Whats up now lets talk about bitcoin pretty bullish in this week. And forming a beautiful upward pointing triangle( Bearish Pattern ). Elliot wave perspective it was under 3-3-5 Correction. It's a flat type of correction in which the two waves are ABC (Impulse Wave Blue), ABC (Correction Red) followed by ABCDE(Impulse Waves Blue). Now lets talk about indicators first of all my favorite MACD we have a beautiful divergence in MACD Hourly charts Also we have bearish divergence in the RSI another popular indicator. What I'm saying is we will break bearish out of this triangle and will correction down to $5100-$5300 region. Thank you guys for looking into don't forget to leave a like. I'll keep updating the idea in the threads so don't forget to follow me. Thank You

Indicators

1. MACD - Bearish Divergence in hourly charts
2. RSI - Bearish Signal

Conclusion

Bitcoin Forming a upward pointing triangle which is a bearish pattern may broke downward to test $5100-$5300 region.

Thank You For Your Support


Previous Analysis
Trade active: So its started
Trade active: Failed To Breach the resistance bears are not out of the game yet.
Trade active: Testing of support before further fall
Trade active: similarity ?
Trade active: Looks like a rising wedge
Trade active: 6200 Here we come
Trade active: Expecting A bounce to $6500 before the further fall expecting 5-3-5 Correction
Trade active: Target 1 reached stay tuned for update
Comment: Expecting a Nice bounce from here Lets see how it goes i hope u guys are out
Trade active: Going just as planned
Trade active:
Trade active: Just as expected bear flag complete expecting sideways moment before the further fall

Comments

I shared different view, well done on your great work. Here is my view.

Reply
im_sng weslad
@weslad, Thanks for the replay
+1 Reply
Very good TA. Thanks to share.
Reply
the trend has been broken
Reply
a lot of people look at around 7300$ or even higher...
Reply
im_sng steven221
@steven221, Yea if this got invalidate i have that in my mind too
Reply
i saw ur last TA, yeah,it's very simila,but the head and shoulder has been formed, how about that?
Reply
im_sng CryptoManiac101
@CryptoManiac101, what happend bud?
Reply
@im_sng, Crypto community is split 50/50 - some say correction is over, others say bottom has not been found yet. In reality there is not 1 person who knows for sure! lol
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out