BTC _ USD 4hr
Updated
I posted BTC ideia 11days ago whit this
"Good entry its SMA 200 (6.2k - 6.5k) "
"short and mid Targets (resistances)
T1 - 8.5k
T2 - 10k
T3 - 11k
T4 - 12.7k "
Ok rick, but what happened?
BTC made a good reversal from that point, its already 80% up from that level and hit target 1,2,3! now we are waiting to another decision, we are trying to break BIG downtrend line (red) its a fucking important zone, we still in a rising wedge and its a bear formation! so we are charting probablies scenarios.
1- Breakdown rising wedge and back to 8.5k level (first target)
2- Breakup RED line and show us a strong move to break this rising wedge ( its hard to breakup rising wedge but can happen)
3- BTC ignore this rising wedge formation and go sideways consolidating around 10k-11k
4- fail to breakup RED line form a double or triple top then fall to 8.5k area
So if u are following me and my advice and u bought BTC arround 6.5k area u are looking to lock some profit in this run, I recommend u wait for next BTC decision then lock some profits to buy cheaper.
11.3k its a good area to lock profit if we don't breakup
if u are looking to buy BTC I recommend to wait next move because its most easy to breakdown this rising wedge and back to 8.5k area (old resistance , new support)
"Good entry its SMA 200 (6.2k - 6.5k) "
"short and mid Targets (resistances)
T1 - 8.5k
T2 - 10k
T3 - 11k
T4 - 12.7k "
Ok rick, but what happened?
BTC made a good reversal from that point, its already 80% up from that level and hit target 1,2,3! now we are waiting to another decision, we are trying to break BIG downtrend line (red) its a fucking important zone, we still in a rising wedge and its a bear formation! so we are charting probablies scenarios.
1- Breakdown rising wedge and back to 8.5k level (first target)
2- Breakup RED line and show us a strong move to break this rising wedge ( its hard to breakup rising wedge but can happen)
3- BTC ignore this rising wedge formation and go sideways consolidating around 10k-11k
4- fail to breakup RED line form a double or triple top then fall to 8.5k area
So if u are following me and my advice and u bought BTC arround 6.5k area u are looking to lock some profit in this run, I recommend u wait for next BTC decision then lock some profits to buy cheaper.
11.3k its a good area to lock profit if we don't breakup
if u are looking to buy BTC I recommend to wait next move because its most easy to breakdown this rising wedge and back to 8.5k area (old resistance , new support)
Note
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twitter.com/Cryptorick442
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