BitcoinUpdated BTC bullish reversal near? touched 2017 log scale trendline
As we can see in the bottom half of the analysis, BTC has touched the 2017 log-scale trendline and bounced up from there.
BTC also entered my buy zone (will add extra pictures in the update section)
Bearish volume is decreasing as seen on volume, green candles are getting bigger and are starting to take over red candles which could indicate reversal.
If we drop beneath 7750 that would be a bad sign. Do your own analysis and be prepared on both bullish and bearish scenarios.
Know how to trade either way because we are on a thin line between a big bull run or a lot more downtime.
BTC also entered my buy zone (will add extra pictures in the update section)
Bearish volume is decreasing as seen on volume, green candles are getting bigger and are starting to take over red candles which could indicate reversal.
If we drop beneath 7750 that would be a bad sign. Do your own analysis and be prepared on both bullish and bearish scenarios.
Know how to trade either way because we are on a thin line between a big bull run or a lot more downtime.
Note
Perfect rejection of log scale downtrend line (red line).Purple zone indicates buy zone created by previous resistance/support zones
Note
when 4h RSI has been this low, look in the pastNote
momentairly downtrend in this short term channelNote
Very minor bullish divergence on 1H. Big decreasing price thoNote
If wave A = Wave C, possible low at around 8kNote
Note
bear flag, perfectly touched 0.618 fibo retrace, most likely extension if bear flag does not break to 8050 usd, 2nd target 7915Note
Bitcoin got up to that Optimale Trade Entry at 0.705 Fibo retrace. Breaking down bear flag, target 8050 USDNote
Big bear flag forming on the hourly, not really happy with this, will have to see how the market reacts to it. If this breaks downwards, im pretty confident that the log scale 2017 trendline will be broken. Hourly RSI very low so lot's of upside potential.Sold my first position at 9500 and have now bought again at 8800 with my stop at 8350 for now.
My ideas are not meant for trading advice, always do your own research. Always be prepared for bull and bear scenarios
If my ideas were helpfull, feel free to donate here: 1Kufwyg8tq8s76SUfCPvCZUVgLxSha8UZZ
If my ideas were helpfull, feel free to donate here: 1Kufwyg8tq8s76SUfCPvCZUVgLxSha8UZZ
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
My ideas are not meant for trading advice, always do your own research. Always be prepared for bull and bear scenarios
If my ideas were helpfull, feel free to donate here: 1Kufwyg8tq8s76SUfCPvCZUVgLxSha8UZZ
If my ideas were helpfull, feel free to donate here: 1Kufwyg8tq8s76SUfCPvCZUVgLxSha8UZZ
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.