The analysis yesterday played out perfectly. Next, we just semi crossed the final descending trendline, that's keeping us back from reaching all-time high on BTCUSD. think we are going to see 42K within a short period of time. Fingers crossed and tight stops.
As mentioned in the previous post, BTCUSD came up and made a new all-time high after the previous rapid move down. I have been very bullish and I still am. However, there are a couple of good reasons to be careful about going long right here. First of all, the correction happened fast. Often times, a quick correction is followed by a move in the opposite...
The strong but short-lived selloff in BTCUSD pushed it close to the 27K mark, as highlighted as a possible level to watch in the previous analysis. Now BTCUSD is back in the channel, and because of this, I am looking for upside and a possible new ATH in the nearest future
The final analysis for yesterday did not play out as I was hoping. While we are still in the ascending channel, I think we may start to see further downside for now. Possible target around the 27K mark. See the levels below. Note that we may continue to the upside in the channel, but my current bias is to the downside. A hard bounce on the lower ascending...
While I am still bullish, this seems like the obvious next short term move. Possible target, just above lower ascending trendline. Maybe worth give a short trade a go, with a profit target around the highlighted area. Otherwise, wait for a possible drop to this level, and look for a long on a bounce of the lower ascending trendline.
As mentioned in the previous analysis, BTCUSD hit good level for those who took a short term short trade. I also mentioned I though this was a solid place for a short term long trade. I still think this is true. I am looking for something like this..
BTCUSD just broke the trendline to the downside. I personally think the move down will be shortlived. See the profit target below. I will not be shorting this move. More looking to long at the profit target.
While the previous analysis didnt reach its profit target, there should have been plenty of room to move stop to break even. Currently I think we are now more likely to see a break of the former all time high and go for new highs around the 30,700 level. Keep in mind we are still below the ascending trendline.
We almost got down to the target of the previous analysis. Now we are back in the range and the trendline has been adjusted based on recent move. I expect a break of the all time high and a target as shown, starting from 30,400. Should we break the trendline to the downside, I am looking for a target around 28,000