BTCUSD what's next? A summary of my opinoin

Updated

Since the price reached the buy zone on $9222, it started giving us higher lows each time when hitting the black uptrend. Now, the price is facing the first downtrend in blue. If the price successfully breaks the downtrend, it might go for the next downtrend in orange and the target will be the price zone 14370, 50% fibo, - 15000. After that, we might go down to hit the red moving average, 200 EMA then we will be ready for new uptrend.

The other scenario will be if the price breaks the black trend, it will probably go down to hit the 200 EMA (around 9222- 8000) and the 200 EMA will send the price up again. Currently, the indicators are still pointing down and in favour of downtrend.

Which scenario I tend to follow?
The first scenario.

Should you buy now?
If you did not buy when the price was in the BUY ZONE then the best thing to do now is to wait patiently until the market decide which way to go.

Should you follow my opinion?
Never do that without doing your own analysis but we are here to make money ;)

Happy trading

Note

The price pulled up after posting this idea as expected and that gives us a third touch for our black uptrend with more confirmation for the breakout. I am expecting a breakout by the end of this weekend as the price range getting tighter. However, for now the upper hand is still for bears meaning the possibility of heading down is still on. So, 2-3 more daily candles and then we will have more clear view on where the price is heading.

I will be updating this idea tomorrow as well. Stay tuned ;)

Thanks for reading

Note

The yesterday’s candle close was in favour of bulls as we the price now breaks the symmetrical triangle and now the MACD got close to each other indicating changing in direction with more confirmation from Stochastic. However, what’s next?

Alright, let’s zoom in and see what’s happening on the daily chart. It can be seen that the price tried several days to break through the 11644 - 11873 but it rejected leading to forming the next resistance.

Today's scenario

I’m expecting for today’s candle is to touch the black uptrend again and close around the 10832 support zone forming our new higher low. This would still a bullish sign for the next move, which is breaking up the formed green resistance and the next target will be 50 EMA and the red resistance 13083. If the price breaks through the green resistance zone today and sustains above it then we might go from there to 50 EMA.

This analysis is only for me and 3 of my friends. Join us if you wish ;)

Thanks for reading

Note

Patience is the subject for today.

As the price could not break through the green resistance zone (11644 - 11873) yesterday, The scenario of touching the black uptrend then going up will probably occur today.

This update is only for me and 4 of my friends. Join us if you wish ;)

Cheers

Note

Here is the 4h chart heading to the green resistance zone (11644 - 11873).

Note

Daily chart.

You can see the price is giving us a more confirmation for the black uptrend but I will not be 100% bullish until we break the the grean resistance zone. So, pending order can be placed above this zone. I

Note

I probably post a new idea with full trade info once I become confident about it.

Likes, comments, and follows will encourage me to put more time in here.

As always,
This update is only for me and 4 of my friends. Join us if you wish ;)

Cheers

Note

Today's lesson: Period of fake signals.

For short term traders, this period is not a profitable period and best thigs to do is to be patience and to wait untile we have a clear direction. It is called a period of fake signals. N

Note

So, the black up trend has broken and we visited the buy zone again. It is an opportunity for long-term investors to load and reload. However, it is not the best for short-term traders. Now let's see what the chart is telling us. The buys zone is still providing a strong support for the BTC and wee still have the 9000 as the lowest point. MACD is in favour of the bulls and the Stochastic is the opposite giving us a bearish signal. As you can see, the direction is not yet clear and any thing could happen. BEST THING TO DO IS TO WAIT & LONG-TERM INVESTORS SLEEP WELL.
As always, this update is for me and 6 of my friend, join us if you wish;)

cheers

rafalemban

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