Hi followers and others,
as you can see our updates on Bitcoin have been quite regular these days and quite accurate also!
Hope you managed to catch this train we have been writing about some time ago (check the link to related ideas).
We are aiming for 80-90% accuracy which should position us among TOP traders on TradingView.
Since BTC had 7 positive days in a row and many are trying to find out when is this thing stopping, we might just have the one.
Maybe we can not tell you exactly when, but it seems that we can tell you were, with really high probability!
Here is how we see the situation.
Bullish part:
It's still a bit of potential left for upside in order to reach resistance zone:
- we had an EMA9 crossing MA20 on the upside and there is EMA9 going to cross MA50 also
- we haven't touched any strong resistances yet
- there is still some space left to stay inside the channel
Bearish part:
There is a really strong resistance zone from 11900 to 12500:
- two levels of previous highs ( --- black )
- channel resistance ( ___ violet )
- Fibbo resistance ( ... blue ) aligned with a previous lower high ( green and red candle close )
All this should point out that we will at least stop for a while if not even retrace before and if the next push really starts.
It's good not to FOMO in this kind of situations and maybe try to find better trading opportunities when beeing a bit late.
You can find one in the link to related ideas also. Let's see how this one unveils.
PS: It's just an idea. It's not investment advice.
as you can see our updates on Bitcoin have been quite regular these days and quite accurate also!
Hope you managed to catch this train we have been writing about some time ago (check the link to related ideas).
We are aiming for 80-90% accuracy which should position us among TOP traders on TradingView.
Since BTC had 7 positive days in a row and many are trying to find out when is this thing stopping, we might just have the one.
Maybe we can not tell you exactly when, but it seems that we can tell you were, with really high probability!
Here is how we see the situation.
Bullish part:
It's still a bit of potential left for upside in order to reach resistance zone:
- we had an EMA9 crossing MA20 on the upside and there is EMA9 going to cross MA50 also
- we haven't touched any strong resistances yet
- there is still some space left to stay inside the channel
Bearish part:
There is a really strong resistance zone from 11900 to 12500:
- two levels of previous highs ( --- black )
- channel resistance ( ___ violet )
- Fibbo resistance ( ... blue ) aligned with a previous lower high ( green and red candle close )
All this should point out that we will at least stop for a while if not even retrace before and if the next push really starts.
It's good not to FOMO in this kind of situations and maybe try to find better trading opportunities when beeing a bit late.
You can find one in the link to related ideas also. Let's see how this one unveils.
PS: It's just an idea. It's not investment advice.
Comment:
We touched the channel resistance nearly perfectly!
Comment:
Everything by the plan for now!
As you can see channel resistance worked perfectly.
On this graph, I show you Fibonacci levels also for you to see how strong the are. We peaked exactly bellow 0.236 level. Additionally, you can see the indicator that shows when we are still in the hype cycle. It did not break down strongly after $9094 peak, but it did at the end of it.
As you can see channel resistance worked perfectly.
Comment:
You can read more about the projected price movement in the update here:
More or less the question is only how long the consolidation phase will be. We will be updating on the upper link from now on.
![[UPDATE]: Bitcoin run just stopped! Consolidation comming...](https://s3.tradingview.com/s/s45DgXMb_big.png)
If we break these supports we could have a dead cat 2 scenario (less probably) if we don't form a higher low above 9100 where strong 9600 resistance needs to do its job.