Hey guys, it was a great week for Bitcoin. We don't have a lot of updates for the BTC now. We hold our long positions and waiting that this or the next week update the current ATH.
When BTC will update the ATH we will open an extra position. This would be one of the last opportunities for you to buy Bitcoin during the current bullish market.
Yes, we are not sure...
🛑All market again crash EXPECTING due to fear and uncertainty for COVID-19 2ND WAVE, This could be final bottom out before going all-time high, 30k
👍 ** Before we start, please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
✳️Yesterday I shared one chart BTC could go back to support level 9200$....
If the price get to break the 800 Ema we could see price rising till 7433.00 witch is a clear resistance on the 15 min TF
So it might pull back a little bit before breaking it to then get inside that B area marked up on the chart
I am keeping this super simple. I believe we may be in a bull flag now. If so, and BITSTAMP:BTCUSD breaks out of it with confirmation, theoretically, we are headed to 20K. Fingers crossed.
Bitcoin is hovering around fibonacci retracement 38.2%, 9786 area.
If this price is a strong support and hold, it might complete a pennant.
If break below then we will look into 50% and 61.8% fibonacci retracement area.
Now that we have reached our first target of $10900, we can see that the five wave move is incomplete. Using fib levels we calculated the middle of the 5 wave structure to be at $9500.
Using symmetry from this middle point we have a final target of $15000, which will complete the five wave move breaking the previous high, which also coincides with the sell area...
With all the short term charts about Bitcoin that I see, most suggesting that the price is going to drop, I'd like to publish this chart as a reminder and to give some peace of mind to those individuals with a longer holding period.
BTCUSD we have a breakout above resistance if we get pullbacks this resistance can act as support. If we see a quick return back below the resistance, we’d likely be looking for a false break setup.
Likewise with the alts we see they are getting hammered - and will continue to do so. Perhaps the bankers are destroyiung the alts first before they sink Bitcoin by 2021 to 100USD.
Bestr regards,
Grey FX Empire
I've noticed LTC is about to drop hard. Daily RSI is diverging heavily from price. It has diverged four times, so it will necessarily drop.
This is not financial advice. I won't be responsible of anything if you base your trading in this idea.
Have a good day. =)
