hi guys. btc is falling. i will share simple trading plans.
as you see btc formed falling channel. so now, 10,000 is big resistance, maybe a number you would not see in coming days, weeks even.
anyway, so bottom of the channel is 8.6~8.7k area.
but that does not mean it will fall straight forward, even though it has good chance.
see the purple long term trendline? now located at 9.3~9.4k, if we break that line, buy btc at 8.5~8.6k area.
bounce will be pretty limited, to upper 9k area.
if the purple long term trendline is not broken, if gives bounce, it could max go to upper 9k, or 10,000. and drop again.
daily ichimoku, see the orange circle bottom of ichimoku? most likely, do not think it would reach even though we go to new low. 10,000.
i think big rebound would come from weekly 21ema, now around 8000 and dip to 7k areas. that area can be reached, i think next month.
and hopefully, that drop is the end level.
so try to have in mind that btc can go to 8.6~8.7k this week at earliest. but i do think there could be a bounce from 9.3~9.4k
area.
overall, i think buying btc at good supports would give good profits. but, it will be limited though.
so i tend to buy btc at 9.3~9.4k area first hand, small portion. and if that is broken, most likley wait for new low.
happy trading!
as you see btc formed falling channel. so now, 10,000 is big resistance, maybe a number you would not see in coming days, weeks even.
anyway, so bottom of the channel is 8.6~8.7k area.
but that does not mean it will fall straight forward, even though it has good chance.
see the purple long term trendline? now located at 9.3~9.4k, if we break that line, buy btc at 8.5~8.6k area.
bounce will be pretty limited, to upper 9k area.
if the purple long term trendline is not broken, if gives bounce, it could max go to upper 9k, or 10,000. and drop again.
daily ichimoku, see the orange circle bottom of ichimoku? most likely, do not think it would reach even though we go to new low. 10,000.
i think big rebound would come from weekly 21ema, now around 8000 and dip to 7k areas. that area can be reached, i think next month.
and hopefully, that drop is the end level.
so try to have in mind that btc can go to 8.6~8.7k this week at earliest. but i do think there could be a bounce from 9.3~9.4k
area.
overall, i think buying btc at good supports would give good profits. but, it will be limited though.
so i tend to buy btc at 9.3~9.4k area first hand, small portion. and if that is broken, most likley wait for new low.
happy trading!
Comment:
so btc bounced off, but weak volume. anyway, this is ripple.
formed h&s, which can lead to 0.29dollar zone. only if btc drop. if btc go up,
it would change to rising channel.
formed h&s, which can lead to 0.29dollar zone. only if btc drop. if btc go up,
it would change to rising channel.
Comment:
btc broke support. which will indicate to price to drop in near days.
at the moment, testing the broken support. but it looks like it is only accumulating power to drop more.
at the moment, testing the broken support. but it looks like it is only accumulating power to drop more.
so we have to assume, in weekly wise, it is making a somewhat flag.
you can call it bull flag, or descending channel whatever. anyway, at the moment,
i think this would form somewhat falling wedge, inside the big flag. until we hit 8000 or little lower. hopefully, that 8000 should be the low for this year.otherwise, it would mean something different.