Short

Have you seen San Andreas? =)

Updated

#VolatilityWatch

Text shown in the chart details my thoughts on current trend/ pattern analysis.

Bitcoin bounced sharply off long-term level of support. The symmetry within the #currency is beautiful.
Pattern suggest that the triangle filled with pink will be the range of support and resistance for now.
From a long term perspective, looking for break of this $11,800 (current resistance) for potential move back to $12,500. Then looking for short
opportunity to ride wave 3 down =)

** Like and follow my money moves with stocks and crypto +)

Disclosure: Thoughts expressed on this chart are my own. I may buy/ sell within the next 72 hours. This is not a note to buy or sell. Please do your homework before investing.

Note

Pattern suggests the building of descending triangles.

Tip #3 - Wait for patterns to come to you, you cannot make price move by yourself.

Needs to hold this Fibonacci level (0.382)

Pay attention to potential breach below 0.382, this could signal further selloff!

Resistance for bounce is at $0.000041225 ( if breaks above may consider buy)

Long-term pattern suggests potential AB=BC Harmonic pattern building out.

ADX suggesting strong trend to downside.

Watch for high volatility , this could signal Big $$ traders switching from long positions to short positions.

Symmetrical patterns suggest this is in fact a repeating pattern as well.

Statistics suggest 90-95% of crypto traders fail!!. Please like and follow so I can continue providing technical analysis/ pattern recognition. Thank you in advance =)

(For trading tips/ suggestions on reading charts comment or PM me).

--Follow_the_money

Disclosure: This is not a note to buy/sell. I may open/sell/close position within next 72 hours. Please do your homework before investing.

//-----------------------------------------------------------------------------------------------------------------------------------------------------------------------

Other Trend-Analysis

Tip #2 - ADX indicator (DMI in trading view) evaluates trend strength. try it out by adding to your chart =).

Have you seen San Andreas? =)

Statistics suggest 90-95% of crypto traders fail. Please like and follow so I can continue providing technical analysis/ pattern recognition. Thank you in advance =)

(For trading tips or suggestions on reading charts, comment or PM me).

-Follow_the_money

Disclosure: This is not a note to buy/sell. I may open/sell/close position within next 72 hours. Please do your homework before investing.

//-----------------------------------------------------------------------------------------------------------------------------------------------------------------------

Other Trend-Analysis

Tip #1 - Big picture. before one can understand short term movements, take a look at the long-term trend for potential patterns (this is what I do before trading ranges).

Here is link to another BTCUSD analysis. On point!

Statistics suggest 90-95% of crypto traders fail. Please like and follow so I can continue providing technical analysis/ pattern recognition. Thank you in advance =)
(For trading tips or suggestions on reading charts, comment or PM me).

-Follow_the_money

Disclosure: This is not a note to buy/sell. I may open/sell/close position within next 72 hours. Please do your homework before investing.

Note

Confirmation double down on Short?

After a parabolic move one should expect a pullback at some point. When researching BTC price history, I noticed a very familiar parabolic move that I normally see in high flying biotech stocks. I outlined a potential double top about a week prior to selloff “Hold on to your pants” and “Have you seen San Andreas” and have been enjoying massive gains from going short. But I’m not here to boast.
Bitcoin Recently breached a long term Fibonacci level of 0.382 retracement. A continued move downward suggests .50 retracement down to $8,478.00. Looking at historical volatility, retracement of more than 50%+ brought in exponential amount of new interested investors/ traders. I expect the same to be happening again.
$8478 is not my price target, just the next level of support I will be watching. Current setup suggests a potential AB=BC harmonic pattern which could go as low as .618 retracement from $13,876.00 (=$7222)

Tip # 10: Mathematically, a Trend line is known as the line of best fit. In charts, they are best drawn from high to high and low to low, etc.

Please like and follow so I can continue finding good trades. Thank you in advance =)

Check me out on twitter or instagram: VolatilityWatch

Disclosure: This is not a note to buy or sell. Please do your homework before investing.

follow_the_money

Also on:

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.