Hello fellow investors, dear tradergirls and boys, dear audience,
today I´d like to share an observation I did with the community.
Bitcoin seems to be in an uptrendchannel as you can see inside the paralell light blue channel.
The lower light blue trendline shows in addition to the red circles, two of the recent LOW´s since we kinda bottomed out (for now) at about 3100.
Since then we retested 4000-levels a few times and could NOT make higher HIGH´s, eventhough volume and momentum was given.
This leads me to the 100 & 200 MOVING Average´s (MA 100 & MA 200) which we trade between.
Blue is 200 and light red is 100 MA and BTC is trading between them.
So in this chart I think, we are going to retest 4000 (we already did actually) but I think it will BOUNCE BACK to 3700, when we hit the 200 MA.
BTC then will retrace to about 3700 and test the support at this level.
If the market sentiment is bearish, we could fall down to lower 3000-levels, testing 3300 first and if this breaks down as well, we will test 3100 and see if the bulls will eat it.
I am interested in your opinion and would love to read your thoughts/critisicm and ideas on this one.
I believe in our knowledge as a community,
Roman
--------------------
Focus on the journey, not the destination. Joy is found not in finishing an activity but in doing it.
Hope you enjoyed it as I did reflecting on this one.
If you enjoyed the content, it really would help me if you click like button :-)
today I´d like to share an observation I did with the community.
Bitcoin seems to be in an uptrendchannel as you can see inside the paralell light blue channel.
The lower light blue trendline shows in addition to the red circles, two of the recent LOW´s since we kinda bottomed out (for now) at about 3100.
Since then we retested 4000-levels a few times and could NOT make higher HIGH´s, eventhough volume and momentum was given.
This leads me to the 100 & 200 MOVING Average´s (MA 100 & MA 200) which we trade between.
Blue is 200 and light red is 100 MA and BTC is trading between them.
So in this chart I think, we are going to retest 4000 (we already did actually) but I think it will BOUNCE BACK to 3700, when we hit the 200 MA.
BTC then will retrace to about 3700 and test the support at this level.
If the market sentiment is bearish, we could fall down to lower 3000-levels, testing 3300 first and if this breaks down as well, we will test 3100 and see if the bulls will eat it.
I am interested in your opinion and would love to read your thoughts/critisicm and ideas on this one.
I believe in our knowledge as a community,
Roman
--------------------
Focus on the journey, not the destination. Joy is found not in finishing an activity but in doing it.
Hope you enjoyed it as I did reflecting on this one.
If you enjoyed the content, it really would help me if you click like button :-)
Comment:
As we can observe, it was written "IF BTC FAILS to go up significantlly, we will retest the lows".
Turns out it did not.
Anyway, there is still a chance, we can retest those levels in the red circles.
Please be careful with your funds and savings, BTC can change its direction anytime.
A few weeks ago people called 2K and lower up to 1K.
Sentiment and trend changes with media hype.
Please: Do not let them fool you, SELL IN MAY and GO AWAY
I will update this in June/July!
Have a nice day friends& followers
Turns out it did not.
Anyway, there is still a chance, we can retest those levels in the red circles.
Please be careful with your funds and savings, BTC can change its direction anytime.
A few weeks ago people called 2K and lower up to 1K.
Sentiment and trend changes with media hype.
Please: Do not let them fool you, SELL IN MAY and GO AWAY
I will update this in June/July!
Have a nice day friends& followers
Comment:
Interesting: IF it failed we might had a retest of lower levels.
Turned out, BTC went up (which is very nice).
Closing this one! Thanks for participation!!
Turned out, BTC went up (which is very nice).
Closing this one! Thanks for participation!!
Order cancelled
May the force be with you
GOOD JOB ENJOYING GAINS EVERYONE!
It might retrace now to 4000-levels (+ minus 50 ) to make another move up next week hopefully!
That could mean, it will touch the lower line of the trendchannel!