Bitcoin is again trying to gain a foothold above $ 8000, as expected.
The nearest resistance will be the upper limit $8150, let's see how it will work.
The next target of the bulls is $ 8700-9000.
The average moving MA200 has broken the MA50 upwards and is looking confidently at the sky - the price should be a good support in the near future.
RSI just above 50 -...
BTCUSD Depends on what happens with the tube/downtrend we are in now. If we break 6000 we may see the 5000 downside target. If we break out of the downtube we may get back in the wedge we are creating. This wedge isn't finished. So we will continu with building this wedge till I think somewhere August and could fly up again!
If we breach the $ 9350 barrier here, the price will fall fast to 8730. There should then be some hesistation orbiting around 8800-9200. after that the price may drop even more to 7730.
See the pink horizontal lines which represent the levels that price should pass (based on my analysis).
I think the price is moving natutally to 7740 USD.
The green long term - trend line coincides with the fib extension level (8.000 usd) for the corrective C wave target. This correction is needed and healty for BTC , after that correction, we must see a new hig!!!, i think that correction ends with the comes of Lightning Network implementation.
In a previous analysis of mine, i shown if the btc broke the mini...
Been watching with popcorn and profits :)
update to an earlier idea, with an extension to the cup to form and break the neck line
we can expect the formation to complete by shorting down to the net fib levels provided by the gann fan
8.2K Stop on the short, plz practice proper risk management
good trades x
I took a sell trade over a month ago
This setup may seem crazy and unrealistic
but i truly believe take profit will be hit by the end of 2016
Reasons behind this many reasons which i will not go into but if anyone would like to no why
contact me i have no issues with explaining :)
8000 pips here we come