BitcoinUpdated BTC, still bullish, but......
Hello Friends, Traders and Interested,
wow, nearly one week no TA from my site to BTC. Its really a very very difficult thing with BTC. But I am not the only one, who does have enormous problems to analyse it. BTW, where is Magic Poop Canoon?
Okay, my past TAs according to BTC did not run as I thought. Sorry for that, but so many unexpected pumps and other crazy things happened, I was unable to do any TA which might help anyone. And,..... I am not sure if this Bullrun will be a longer thing. I still think, we will have to go down again to around 6 K. Maybe this opinion is bullshit, but I do think so, because the overall situation for BTC looks still bearish.
Lets take a look at the actual 2 - Hours chart. I do see a rising wedge. Normally this pattern is a bearish one. But what is normal with BTC. The wedge shows - until now - a typical "behaviour". We saw 3 high tops (signed black circles) and a longer scratching on the bottom line. Now we see a continous but slow uptrend along the red painted mid line of the wedge. As you can see, the wedge is going nearer to the close-point. We will see a decision thoughout the next days or maybe hours.
Which way we will breakout??? I DONT KNOW. If it wouldnt be BTC, I would predict with 80 % that we will see a bearish breakdown. But it is BTC. I would say 60 (bearish):40 (bullish).
We will see.
As always, no trading advice, just educational.
Trade on your own risk and trade safe.
Yours Sascha
A Like and a Follow makes me happy.
wow, nearly one week no TA from my site to BTC. Its really a very very difficult thing with BTC. But I am not the only one, who does have enormous problems to analyse it. BTW, where is Magic Poop Canoon?
Okay, my past TAs according to BTC did not run as I thought. Sorry for that, but so many unexpected pumps and other crazy things happened, I was unable to do any TA which might help anyone. And,..... I am not sure if this Bullrun will be a longer thing. I still think, we will have to go down again to around 6 K. Maybe this opinion is bullshit, but I do think so, because the overall situation for BTC looks still bearish.
Lets take a look at the actual 2 - Hours chart. I do see a rising wedge. Normally this pattern is a bearish one. But what is normal with BTC. The wedge shows - until now - a typical "behaviour". We saw 3 high tops (signed black circles) and a longer scratching on the bottom line. Now we see a continous but slow uptrend along the red painted mid line of the wedge. As you can see, the wedge is going nearer to the close-point. We will see a decision thoughout the next days or maybe hours.
Which way we will breakout??? I DONT KNOW. If it wouldnt be BTC, I would predict with 80 % that we will see a bearish breakdown. But it is BTC. I would say 60 (bearish):40 (bullish).
We will see.
As always, no trading advice, just educational.
Trade on your own risk and trade safe.
Yours Sascha
A Like and a Follow makes me happy.
Note
BTC just broke out of the green painted wedge. The outbreak stopped at the black line. Now we have to see if we see a big rebound or if BTC will break confirmed under the black line.Trade safe all of you.
Yours,
Sascha
Note
Again, a quick comment.
As you can see in the chart, now BTC has to break 3 lines to go back in the bull run ( green line to be back in the wedge, than the red line, and the black line, which will sign a confirmed end of the bear market).
On the down side there there is just the big black line left to be broken.
But, this is just my chart and Idea, might be completly wrong, but I see signs of a reversal of the bullrun.
Be careful and trade safe and on your own risk.
Yours Sascha
Note
sorry, little mistake in my past comment. I deleted the green upper line. Now here again this line into which BTC has to return again for a new bull attack. 
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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.