hey guys welcome to a fresh new update on Bitcoin XBT, quite fascinating how Bitcoin precisely following patterns and formation right now, which makes quite easier to predict the direction, and truly its a lot of fun to read your comments guys and all the huge support you gave me in just short time am so grateful for this and will keep continue to deliver top quality analysis and work even harder, so love you all...
ok so now before moving forward if you've not checked my previous analysis which is still active than here's the link, read everything carefully before making any move
ok so now talking abt the main chart above so we've already tested fib382 level 3 times successfully and now you can see that prices are sitting on support level of that lower trend line, now if somehow we fall back again to test fib382 level around 7856 than most likely we're going to break it in 4th time and can move even lower. but if prices gain support and jump from here than 9070 could be most likely the top of this rally as we're getting previous support as resistance with the the trend line which is coming all the way from 13800 level.
my custom indicator is now moving in the green zone, however it doesn't mean that bottom has formed now, its an indication of retesting support levels and gaining strength for the next rally, meanwhile bitcoin could remain stable in this zone for some time and than bulls will be prepared for the next rally in short term.
here in this chart things are pretty clear no need for any complexity, that long dotted upper line will act as a major resistance for bulls and the previous support zone from 9000-9400 will now act as a the first resistance zone, fight between bulls and bears will get intresting here, if bulls win here than surely 9750-10000 zone will be the next target and if bears win here than surely we're going towards new lows, so definitely you need to keep an eye on this level.
another major pattern that bitcoin is following precisely is this descending channel formation, just few days ago prices succesfully broke the middle trend line and stay above it for some days, recent drop is a pullback towards that trend line and you can see that bulls strongly defending that middle trend.
here in this chart we get a double 3s complex corrective formation WXY which bitcoin has formed after achieving new highs of this year.
notice that right now we're moving in Y wave formation which is developing as expanding diagonal formation and clearly we've already completed wave 3 in major wave Y precisely at 100% of wave W and now its time for wave 4 which could lead the prices upto 9100 level and most likely than we could see another leg lower completing the 5th wave and also the WXY formation.
although another formation in short term is suggesting for a downtrend as you can see that prices have broke that channel but still it needs more confirmation in higher degree like the daily close below the lower trend line to confirm more drop in prices.
my XBT trade which I had given in my previous analysis is still active you can go with this strategy
Buy zone would be 7800-8000
use leverage 3-5x
T1 8600
T2 9070-9250
T3 9750-10000
T4 10350-10500
Stop loss 7650
alright guys, that's all for now hope this idea will help you to make huge huge profits like the previous one's ;), dont forget to hit like and support us so we keep bringing awesome new trading ideas for you, follow us for more future updates, and do comment your opinion, we appreciate your response:)
and to join our premium contact me on telegram, my premium members are enjoying both sides no matter whether its bullish or bearish....
contact me on telegram to join we just made huge huge profits with ETH and XBT
refine your trading and turn your losses in huge profits...
This is Husain Zabir signing out
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ok so now before moving forward if you've not checked my previous analysis which is still active than here's the link, read everything carefully before making any move
ok so now talking abt the main chart above so we've already tested fib382 level 3 times successfully and now you can see that prices are sitting on support level of that lower trend line, now if somehow we fall back again to test fib382 level around 7856 than most likely we're going to break it in 4th time and can move even lower. but if prices gain support and jump from here than 9070 could be most likely the top of this rally as we're getting previous support as resistance with the the trend line which is coming all the way from 13800 level.
notice that right now we're moving in Y wave formation which is developing as expanding diagonal formation and clearly we've already completed wave 3 in major wave Y precisely at 100% of wave W and now its time for wave 4 which could lead the prices upto 9100 level and most likely than we could see another leg lower completing the 5th wave and also the WXY formation.
my XBT trade which I had given in my previous analysis is still active you can go with this strategy
Buy zone would be 7800-8000
use leverage 3-5x
T1 8600
T2 9070-9250
T3 9750-10000
T4 10350-10500
Stop loss 7650
alright guys, that's all for now hope this idea will help you to make huge huge profits like the previous one's ;), dont forget to hit like and support us so we keep bringing awesome new trading ideas for you, follow us for more future updates, and do comment your opinion, we appreciate your response:)
and to join our premium contact me on telegram, my premium members are enjoying both sides no matter whether its bullish or bearish....
contact me on telegram to join we just made huge huge profits with ETH and XBT
refine your trading and turn your losses in huge profits...
This is Husain Zabir signing out
Ad DueDEX: The fastest crypto futures trading exchange, up to $110 free trading bonus.
Join now https://www.duedex.com/register?code=KZFHHU
Trade active:
nice pump with a double bottom formation, meanwhile my custom indicator has also confirmed the bullish signal in 1h chart lets see...
Comment:
hope you guys took long entry from 7800-8000 zone as per my strategy
