#BTC/USD BULL and BEAR Scenario+ SAFE EXIT PLAN.

Updated

It’s Subscribers like you that make my IDEAS awesome. Thank you very much for your unwavering attention and support so far. Cheers! and welcome to this new update.
6 hours back I updated my last idea that we will touch 9900 soon AND WE DID EXACTLY HIT 9900.
WHAT NEXT?

FIRSTLY UNDERSTAND THE CURRENT MARKET SENTIMENT:
A week back people were bearish and no one wanted to long when BTC hit the 8100 area and BTC pumped and started trading under the rising channel. That move ended up being a wick in HTF.
Now people are bullish and I must say very bullish. This is the concern.
SO WE MAY SEE AN IMPULSIVE MOVE TO THE UPSIDE AND THEN A BIG CORRECTION.

Currently BTC is trading under an ascending triangle which is due for a breakout. As per chart the breakout should happen within the next two days and 8 hours.
If it breaks to the downside $9185 is the SL for longs or getting our of the market. And If it breaks to the upside we will follow the following strategy:

MY STRATEGY FOR BITCOIN:

I will try to lower my exposure from BTC within the area $9900 to $11680.
THE SAFEST EXIT IN MY OPINION WOULD BE within $10400.
(Not a financial advise)
IMPORTANT LEVELS HAVE BEEN PLOTTED IN THE CHART ITSELF PLEASE OBSERVE AND LEAVE YOUR FEEDBACK.

ALTCOIN STRATEGY :

Because of this MOVE in BTC many altcoins will have negative rallies which will eventually result in producing new buying opportunities.
That's is the time when we must consider entering alts by following proper TA FA and Keeping an eye on Dominance charts/alt mcap

I will be posting all the charts here on tradingview.
So please LIKE THIS POST AND FOLLOW ME FOR MORE DAILY UPDATES and FREE EDUCATIONAL CONTENTS.

I will end this update with. this note - Never be too greedy, take profits when they show up. BTC is due for a correction its just about finding the top which now one knows so we try to exit safely and buy back lower by being patient.

THANKS for your unmatchable support.
Stay Safe

#PEACE

Note

So far the price is following our chart.
i'll let you know if I see any sudden changes in the plan.

Note

No changes in plan.
A transaction of 50 BTC made some people panic I guess. This is what I see all over twitter now.
The plan is still intact.
Any DIP is a buy signal unless $9085 to $9200 level is broken.
Current support remains $9500 area.

Note

#BTC 50D MA acted as a strong support so far.
This candle closes in 20 mins If it holds we might see continuation to the upside. A simple sell off out of a FUD as it seems.

Note

#BTC Hourly Chart: I see an expanding channel in hourly chart. If it holds we may go the upside. Most importantly $9200 is THE BIGGEST SUPPORT level. If it breaks 8300-7800-7499-6800...anything can happen.

SO WE MUST KEEP AN EYE ON $9200 LEVEL.

Trade active

BTC isa still trading under the rising channel. the Channel line didn't break yet. I am 60% in USDT (9700 to 9259). New chart coming up in a while. I am trying to analyse the chart without any bias so it's tacking a bit time.
Stay tuned. It won't take much longer.

Note

Lol, please ignore the typos

Trade active

It’s Subscribers like you that make my IDEAS awesome. Thank you very much for your unwavering attention and support so far. Cheers! and welcome to this new update.

Let's GET BACK TO THE CHART and keep it short and simple.

BULL SCENARIO:

1. As you can see in the chart itself that BTC didn't break the channel yet.
2. The violet area is the one which is important and as long as this area holds and the channel doesn't break bull trend is still intact and we can call it a correction.
3. I think we can retest the green box area: $9300 to 9480 level for the short term.
4. $8600 is the 200D MA support which is always a strong support to count on.
5. 50D MA is at $9500, we broke below this resistance but the retest is still due.
6. The retest to the blue line which was the ascending triangle channel lower support line is still due for a retest.
These indicate that BULLs are still strong and haven't given up yet.

BEARISH SCENARIO

This is very important to be kept in mind you need to be very vigilant about this Any break below this channel will be brutal for BTC .

If it breaks, important support Levels to watch:

$8500
$7800
$7400
$6800

If this break happens the bull trend will get extended for a significant amount of time.
I know you don't want this move, this is exactly what the charts says right now.

CONCLUSION:
As in the last update 9200 was an important level for us and BTC broke below this support right now I am buying back with 50% of my USDT if it goes down to the mid 8ks. In the current chart it's certain that bulls are still trying to keep the price up.

ANY BREAK BELOW THIS CHANNEL AND THE PRCIE OF BTC WILL PLUMMET SIGNIFICANTLY.

If you like this idea please hit the like button and share your views and ideas in the comment section.

#PEACE

#BTC didn't break the Channel. Bulls aren't giving up yet.

Cryptorphic

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