BTCUSD WEEKLY BITCOIN MARKET CONDITIONS - CHART INVERSION
By Mid-July, a clear flag pattern was formed on the weekly chart, with entry levels proposed after 8/2.
Resistance zones did not pose any threat to the uptrend. Now +4800 Target seems close. And 5214 real.
However, for those looking an Exit Signal to take profits I have prepared this Chart Inversion of the price.
Since this is an inversion, the uptrend is drawn down in green.
An uptrend channel can easily be spotted.
Price spikes can be observed touching Lower Bollinger Band (Yellow Circle), which are a mid-term TP signal.
Bollinger Bands 24 weeks (6 months).
Since October 2015 Market has not crossed the base line of the Bollinger Bands . It has approached it but reversing every time.
Based on this trend analysis, STOP LOSS could be considered at shown level, this however signals a MAJOR reversal in price. It can be calculated near 2100. An this obviously this only works out for long-term holders.
Based on the daily chart , and using the same inversion several trading opportunities can be found, currently, on the verge of an exit signal (red circle).
Comments welcome.
WNZ
Free updates and analysis of the cryptocurrency market: t.me/ZeddmoTrading
Resistance zones did not pose any threat to the uptrend. Now +4800 Target seems close. And 5214 real.
However, for those looking an Exit Signal to take profits I have prepared this Chart Inversion of the price.
Since this is an inversion, the uptrend is drawn down in green.
An uptrend channel can easily be spotted.
Price spikes can be observed touching Lower Bollinger Band (Yellow Circle), which are a mid-term TP signal.
Bollinger Bands 24 weeks (6 months).
Since October 2015 Market has not crossed the base line of the Bollinger Bands . It has approached it but reversing every time.
Based on this trend analysis, STOP LOSS could be considered at shown level, this however signals a MAJOR reversal in price. It can be calculated near 2100. An this obviously this only works out for long-term holders.
Based on the daily chart , and using the same inversion several trading opportunities can be found, currently, on the verge of an exit signal (red circle).
Comments welcome.
WNZ
Free updates and analysis of the cryptocurrency market: t.me/ZeddmoTrading
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