FxDollarZz

FxDollarZz

I've been patiently waiting for BTC's price to reach this area for awhile now, this is the first prime buying opportunity since the bounce from 3k in mid-September. As you can see on the chart the best low-risk buying opportunities in 2017 have come from the bottom of that cyan ascending trend-channel, and price has once again reached that zone almost five months...

FxDollarZz

Price is testing the bottom of a symmetrical triangle, and is getting close to breaking out. If price breaks down, we will continue to head towards the bottom of the trend-channel defined in 2017; $8000ish. If price breaks-out the other way we could get a rally to the top of the bearish channel and 13k resistance before continuing towards 8k. A better look at...

FxDollarZz

Price broke major support and then re-tested from underneath and looks like it's being rejected, this is support becoming resistance as you can see here on the H4 chart: This was on the 16th, price was at a key level and could have bounced at 11k or broken under, the market has decided to go down. The next major support area is the bottom of a trend-channel...

FxDollarZz

BTC broke under 11k support area and this sell-off looks to continue further down. Next major area of support where buyers might jump back in is the bottom of the trend channel that bitcoin's price traded in for most of 2017. Yesterday we were waiting to see if price would bounce from 11k support or break under, market has chosen under:

FxDollarZz

Bitcoin broke down from its symmetrical triangle, currently sitting at trend-line support at 11k. We saw buyers jump in at 11k after the drop from 20k, so we might bounce back into the consolidation range. If we break the trend-line support at 11k things will get ugly for bitcoin, possible drop to 8k support.

FxDollarZz

Price continues to respect the ascending trend-line, resistance at 16k. Good risk to reward trade setup.

FxDollarZz

Price bounced off of strong demand zone between $11,500 - $12,500, and broke the local downtrend line. Target is top of consolidation range, 18-19k, if we can break the triangle at 16k. Triangle on daily chart: