Long-term long, short-term long, then short

XBTUSD.P
*Note: This TA is based of the XBTUSD Perpetual Swap from BitMEX.

This is my first TA. It is highly recommended that my analysis is not taken as financial advice. Trade at your own risk!

Based off of my analysis, I am bullish on bitcoin (long-term). However, short-term, I am bearish. We should expect to see BTC to have a small pump before falling back, through our weak support, towards the strong support over the next couple of days. From there, I can expect a bounce but for now I am not sure up to where.

Overall, we are seeing lower highs for 2018 and mostly lower lows, however, recently, major crypto enthusiasts have called the "bottom" of the bitcoin and predict that BTC will soon begin to start seeing higher highs. For now, we are unsure if this is true and I will remain bearish until then. I am hoping to see higher highs and higher lows and if bitcoin continues toward this path, our bulls will start coming out of the woodwork.

I am hoping and predicting Bitcoin to see $10k by November if we continue toward the path of higher lows/higher highs. Unfortunately, I doubt that BTC will overcome the ATH set by last year but we should be relatively close.

Remember, this is my very first official TA and none of this should be taken as investment or financial advice. I will start doing more of these and try to improve over time. Creating official TA's are a great way for me to put learned material to use.

Please comment or leave feedback for any suggestions or recommendations.

-RICE GOD
@onetruericegod

Trade active:

Sept. 19, 2018 9:30 PM EST

2 days later my TA turns out to be ridiculously accurate. The price movement followed literally exactly my predicted direction. Not bad at all for my first public TA.

Stay tuned for more updates to see where Bitcoin is headed.