Long

Bitcoin inside flags [BTC]

Updated

Hello everyone, I hope you are having an amazing day.
I'm here again today with another TA on BTCUSD

This idea is based of the last update I shared on my last BTCUSD idea (link will be at the bottom if you want to read it)[/I]

First of all I must say that this are only patterns, there's always the chance they fail, IF so, I'll be the first one to admit I was wrong, remember guys, learn with your mistakes!

Let's keep it simple, I see Bull Flags, and on the right side of the main Bull Flag (Blue) there is a possible Inverted Head and Shoulders and to make it even better inside the Right Shoulder there is another Bull Flag (Yellow) here take a closer look:

Targets you may ask? This all looks good we can see that our main bull flag (blue) has a 'huge' pole! So the main target for this could be the old double top resistance at 11.6k that's also a really important level for us!
Remember that along that way to the 11.6k are more resistances like the 9.4k.
I'll make sure to keep you updated the best I can!

This is one of many ideas I've made, you can check my other older Ideas just open my profile and see! I'll also leave my latest TA on DOGEBTC for you to read ;)

DISCLAIMER:
This is my own personal opinion! Don't take what I say for granted, this is NOT financial advice. Don't spend what you can't afford to lose, and remember, patience is a key on this Crypto Market! Hold is life!

Trade safe and have a nice day!

Note

Possible ascending triangle!

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Let’s talk indicators now, MACD 4H

Bullish cross
MACD 1D

Bullish cross
Ichimoku 4H

Tenkan>Kijun (bullish), Lagging span>old Price (bullish) Tenkan seems to be acting as support, we are inside a thick cloud which means it’s strong and you see that the top of the cloud is near the 9.4k resistance.
Ichimoku 1D

Kijun (acting as resistance) is at 9k, we must break it, in my opinion we will!
Trade safe!

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My Ichimoku settings are 20,60,120,30 because crypto market is 24/7

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9k is an Important level!
Also I'll say this again: I must say that this are only patterns, there's always the chance they fail, IF so, I'll be the first one to admit I was wrong, remember guys, learn with your mistakes!

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I pointed out that 4H tenkan on an update (blue line) is acting as support

We should hold there!
MA50 (yellow) is between the 8.5k and 8.2k supports, the MA is also a support.

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For validation the 4H candle must close above it, 2:25h left.

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As ‘sad’ as it can be, I have to take this scenario into consideration,

Bear Flag/rising wedge. I drew 2 fibs, one made from the white boxes (6k to 11.7k) and other made from the blue boxes (7.2k to 9.1k) that big white box you see near the 8k is a possible end for this bear flag/rising wedge. Let’s see how it goes. Our main vision (on top) is still valid!

Order cancelled

This scenario is in action for now.

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I'll re open this trade (the main one at the top of the page) after I feel confident, so for now I'll stop with the updates!

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Hey guys, I wanted to share this (nothing conclusive, but it’s interesting)

Looks like our old bull flag resistance (yellow) was tested as support, thus originated a small bounce.

Trade active

This is the scenario we are looking at for now, I'll not make a new Idea just because my main prediction failed, it happens.. And I know I was wrong because I missed the bigger picture, our 'main' bull flag should be active after this 8k zone bounce (in green) It's just frustrating how bitcoin can't get passed 9k...

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We are there

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Looks like it wasn't the end, more to come.
Expecting 7.6k

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Bullish action as we speak.

This looks possible but it's a risky call!
Wait for a breakout (8.2k)

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Top of the wedge was touched, once again wait for the 8.2k breakout!

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that middle support/resistance line seems interesting, see how price reacted to it?

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Looks like that middle line I was talking about is acting as support, be careful if it breaks this wedge may fail (fail means it will break down)

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Breakout occuring after support on the middle linde we found, trade safe. Targets are the resistances at 8.2k and 8.5k

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Failed to get support, made it's way back to the wedge middle line

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Middle line will you be my support?

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Made it’s way to the bottom of the wedge

a bounce is a MUST!

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Here a better picture, i adjusted the top of my wedge.

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I changed my wedge to a ‘newer’ one

Makes the turning point near the 7.6k, CRITICAL zone.

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Newer data so I adjusted the wedge lines, this is bad for btc....

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Gravity is doing it’s thing on Bitcoin. Next stop 6.3k :) which is the non-log downtrend

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If we zoom in on the daily chart we see 50MA (yellow) is facing downwards to the 200MA (red) that would make a golden bearish cross… very bad for us..

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To clear the chart I’ve removed all the S/R lines that are above the price, this are the ones we are looking at:

All are possible.

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Don’t forget these lines (that includes the horizontal white lines and the downtrend in white that stands near 9.2/9.3k) bounce may happen there! You can see why i placed those lines if you look on the past (left) how price reacted to it! Trade safe!

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Hello everyone thought I'd leave my opinion on bounce levels for BTCUSD <deleted>
(click it)

Reading it all and dropping a like would be great!

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Bitcoin and the Bear, a Love story! [BTC]

Here's the link (last one had a mistake it's now fixed)

angel_lobs

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