the daily chart is forming a pattern i have seen many times on smaller timeframes. although i am publishing this on a 4hr chart so that it shows clearly the trend lines and fib levels. 0.236 is a good support and i hope it holds. if it holds we see a great move up all the way to 12000 and i believe it should be a fast move upwards.
if 10000 support breaks we...
red patch = RESISTANCE SHORT TERM (11100) IF BROKEN WE MUST TOUCH 11800
green patch = GOOD SUPPORT ZONE (10400)
MOST LIKELY BTC TO RANGE BETWEEN THIS ZONE ABIT MORE BEFORE ANY KIND OF BREAK OUT.
HOWEVER I HAVE A GOOD FEELING THAT BTC WILL RETEST 10000 SOONER OR LATER! I HAD A PREVIOUS IDEA "MISSED SPOT OR AM I HALLUCINATING" AND BTC IS PLAYING WELL ON THOSE TRENDLINES.
red lines represent good short term supports(for me 15miunte trades) so there should be a small bounce each time it reaches there. after a closer look at my previous idea i noticed i was too damn late to the party. btc had already touched 9600/- and dropped. i doubt any crypto company would hire me to work for them.haha.
well so the trendlines are now like this....
as always i look at btc charts in the past to see how the patterns were. if btc fails to hold above this price i can almost certainly guarantee a drop to 9500/- then a rise back to 10,000/- and back to support 9000/-
it will have atleast 1 full day of movement at 10380-10440
for the sell order, wait for 5minute candle to close under resistance(RED LINE), click sell and close position at blue line.
for buy order, wait for 5minute candle to close over support(GREEN LINE), click buy and close position at blue line.
my way of 5minute trading
NOT A TRADING ADVICE. JUST AN IDEA
1 HIGH, 3 LOWS.
playing in the three ranges, only buying if my 5minute scalping charts show a possible rise. buy bottom of one range and sell anywhere around top of the range, multiple times= more profits. even 0.5%profit is still a profit. 5 times=5%
damn these sellers sitting at 0.382fib levels. a kick in the butt would keep them away for a while.
so looking at my previous analysis, it most certainly feels like shit analysis, no panic signal for me yet though.
looking at the chart from another angle, previous low to high, we have seen a retracement to the 0.5 level and a so far a strong support. this shows that market sentiment is still good and a possible rise is expected.
from the analysis percpective,...
0.382 (10620/-) needs to be broken and we need to see atleast 1 bar including the wick to hold above it to see a move upwards. after
that i only see a big rally upto 12200 and a drop again,
NEXT IS IF WE FAIL TO CROSS ABOVE 10,620/- WHERE DO WE LAND? major support at 10k, after that fib levels at 9.5k and 9k. and 1.272 retracement 8k.
I COMBINE THE...