Bitcoin got out from the long term bullish trend. BE CAREFUL!
What up guys.
I am gonna post a simple chart again about BTC.
As you can see, BTC got out from the long term bullish trend channel, which has supported BTC from 6,000.
Also, when BTC is in a bullish market, it usually get supported by 0.382 retracement line when price gets down.
Well, I am not saying to you that you should sell it or buy it - but it is definitely a position that you should be careful.
The investment that has high risk has high return - up to you.
Good Luck !
Andy
I am gonna post a simple chart again about BTC.
As you can see, BTC got out from the long term bullish trend channel, which has supported BTC from 6,000.
Also, when BTC is in a bullish market, it usually get supported by 0.382 retracement line when price gets down.
Well, I am not saying to you that you should sell it or buy it - but it is definitely a position that you should be careful.
The investment that has high risk has high return - up to you.
Good Luck !
Andy
Note
Here is a zoomed version
Note
I am still betting on shorting.
Here are the reasons.
1. 4 hour candle deadcross
2. you can see bullish trend channels were all crashed now.
Note
Sry for the late posting. I have wrote this down in Korean when BTC was around 9000 dollars (you can refer the Korean version of my account).
I strongly believe that BTC will fall down to at least 8500 dollars.
Here is the reasons
1. As I mentioned before, BTC dropped out from the long-term bullish trend line which had supported since 6000
2. It just jumped into Bearish downtrend line which had pushed BTC down from 20000.
3. It strongly looks like forming Double Top pattern -
First, volume at the second peak is lower than the first one.
Second, It tried to break the neck line, but failed.
Next support level would be 8200-8500.
I will sell everything including my underwear and socks to buy BTC if it comes to the price.
* FYI, I will sell BTC again at the proper price because I dont want to walk outside naked (Joke)
Good Luck!
Note
Let's see if BTC can strongly crash the red line
Note
Let's see BTC can crash the neck.
If BTC goes down, I will sell my underwears again to buy BTC between 7200-7550 ( 0.618 fibonacci retracement)
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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.