BTC is going towards 9200, 9100, 8800 and possibly 8500 zone. I set my "Sell" orders on Bitseven platfrom with high leverage. After testing the local support zones it will retrace to 10-10500 again...
That's my analysis and let the show start. Warning: Trading with high leverage is not for newbies, you may blow your account very fast!
If we look at the chart we may notice so called a "diamond formation" which is a sign of possible downwards movement along with descending volume. The indicators alsow point to possible downside correction towards 9700-9600 area.
I set my leveraged "sell" orders on Bitseven trading platform.
BTC might be cought in a bull trap what we can see on a daily chart with bearish engulfing candle and indicators pointing down. I expect that further downside movement will develop and only break out above 10k will invalidate my analysis. So far I'm bearish and set up "Sell" orders on Bitseven levergage traging platfrom.
So far BTC looks like recovering and going higher but it maybe another "bull trap" on low volume. I have some limit short orders open on Bitseven trading platfrom and expect a downside movement soon.(break out 9600 area will invalidate my analysis)
If we look at weekly timeframe we can see that BTC is still trading in a descending channel. Despite the latest upward movement the buyers should be very cautious since the price is near the upper edge of the channel.
I'm neutral at the moment and watching how the situation develops. In order to break the downtrend BTC must break through strong resistance...
We can see some bullish correction on the chart, but it reached the "supply" zone where the sellers maybe very active, I don't trust this upwards movement until it holds above 7400-7500 zone for 2-3 days. If it holds above we might see some forther retracement to 8000. I see it as an alternative scenario IMO the price will slide down again to "demand" zone....
The longer BTC is ranging in current tight channel the stronger will be a break out, if it keeps declining to 7060-7040 it will be a signal of bearish "diamond". If BTC is rising to 7200-7250 it's a signal to alternative scenario.
I keep my limit leverage "sell" orders on Bitseven margin trading platfrom, if alternative scenario develops I'll close my orders and...
Please check this simple "diamond formation" that always works. The blue vertical lines are supposed to be equal, so BTC is going to text 6k area and maybe even deeper.
I don't see any signs of reversal or even slight recovery at the moment so I'm strongly bearish on this pair and my open positions are only "Sell" on Bitcoin margin trading platform.
With possible uprising bullish sentiment and oversold market the next targets for the upside movement will be 161, 184, 310 area. The idea will invalid if ETH drops below 141 level.
I'm in a long position on Bitseven margin trading platform
I strongly believe in XRP upside movement anytime soon to 0.2250-2350 zone. We can see a strong "hammer" candle with a long wick on a daily chart and besides that the adoption of XRP by different industries provides strong demand for the coin. Time to go UP!
My "buy" limit orders set on Bitseven leverage trading platform