Short

Updated

Latest BTC trend

If you have followed my previous idea, you would see that something like this was likely coming. Unfortunately the last bump delayed this by a few days ( 3 ).
Thats ok, fear no more! This is the last correction on BTC - IMO. It would be much much better in the following 30 days ! Hold and dont panic!

As always, when money is taken out of the market, the whole market cap turns red. THIS TIME, the majority of the money is comming out of the alt coins. YES, im looking at you Ripple.

Trade active

If you still wanna enter...

enter: ~14.4k
stop loss: 13.7

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Marketcap dropped at around 680M and its back up at 700M.
Remember, crypto wolrd is very volatile. It can still drop further before it shoots back up!

Good luck.

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Correction: Billion and not Million.

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Barely trying to get out of the down trend.
BTC HAS TO shoot up fast. Else is forming a H&S on the 1Hour bars.

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ABC completed ( hopefully ), attempting to cross out of the trend line.

I believe there is only one way now, but the volume is pretty low.

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Wrong picture. :D

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This is a good entry point, even if it goes down its probably gonna bounce back up. Same numbers.
enter: ~14.4k
stop loss: 13.7

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You can place stop loss lower if you are afraid of slippage.

*Follow the idea at your own risk.*

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Note that the chart is on LOG scale! I always look the log scale, it helps on my calculations ( you can check the difference between the differrence of the horizontal lines gets bigger , price goes from +250 to +500).
This is how it looks on a normal scale.

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Im afraid that if it goes below that purple line ( ~13.7k - 14.1k ) within the next hours then the next stop is the 618fib level (12.6k). Thats the bad news. The good news is that, fortunately, coinbase has a lot of buy orders at that level.

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Is it just me or is it forming a "V" for victory?? Ok, jokes aside, i wont be updating this for the next couple of hours since its pretty late on my timezon. Hopefully it will get back on track!

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The lowest i expect this to get is ~14k (close on 1hour bars), within the next 6hours.

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Sorry wrong image...

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This is still within the line. Although i saw it had a little slippage on the 1h bars.

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It seems that the bulls have defended and hold the line on the 4Hour bars! Is this the comeback ?

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No clear sign of its movement yet. Still over the EMA50 on the daily bars.

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Updated idea:

Please read the first comment if u want to have a better view of the chart.

Acel

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Acel

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