UnknownUnicorn1884740

UnknownUnicorn1884740

A short term bearish outlook on BITFINEX:BTCUSD price action. For now, I am biased on taking a short position here should we fail to hold above key support lines. It is a very low risk play with a stop just over the candles high, and a profit target of the previous trend resistance line that it has just broken. *Note that the stop loss is dependent on how...

UnknownUnicorn1884740 Updated 

A bearish bias for BTCUSD targeting the $2500 area

UnknownUnicorn1884740

5 wave impulse move up has completed, looking to finish a potential simple ABC correction. Could transition into an ABCDE triangle. Impulse structure has corrected to the .618 fib ratio and bounced up significantly, could either be the B leg of an ABC or a wave 1 of an impulsive move up. Will need more data throughout the week or two. Overall a short term...

UnknownUnicorn1884740

In my last analysis, I stated 2 possible probabilities that could take place (you can read it here ). We have a decisive breach downwards of the symmetric triangle, as well as the support trend line, and could possible test some high probability support zones I have labeled in the chart. I do not believe that we could re-test anything lower than $150....

UnknownUnicorn1884740

Assuming that the uptrend will continue, and that BTC will not fall lower. A potential 30% gain in price could be reached. If the current impulse move up is not a failed wave and is supported with a gradual increase in buyer volume, we could start to work on a larger wave 3 from the wave 2 correction. Otherwise, if it fails, we can retest some new lows....