BTC Buy Opportunity!!!
Updated
This is an important analysis because I come to this idea by using 3 different strategies, So I believe this is so valid.. Now Let's begin,
-1- The first analysis is finding classic pattern, The Cup And Handle. As you can see in the chart, the orange shape is the shape of the cup and handle pattern. The upper line is broken, so as we expect in classic pattern the price will go up, the a retest to the upper line, then it's time for BTC to move to 20,000 level.
-2- My other analysis is done by Harmonic Pattern (AB = CD). As you can see the purple pattern is an AB = CD pattern, that price has go beyond the "B" level, so the Fibonacci gives as three levels of targets you can see in the upper side of the chart that become BTC's PRZ (Potential Reversal Zone).
Fib 1: around 20,000
Fib 1.272: around 20280
Fib 1.618: around 20600
-3- You can see the blue bearish trend line in chart and this obvious how price has broken it and turned into a bullish movement..
I add one more detail to these reason. You can check the RSI oscillator that is completely above the trend line, that shows us a good bullish move..
I believe this time BTC is going to strongly hit the 20,000!!!
But for being less risky I decided to put my stop-loss on 18900, But if you don't like it you can try 19200..
This is my idea.. What do you think???
-1- The first analysis is finding classic pattern, The Cup And Handle. As you can see in the chart, the orange shape is the shape of the cup and handle pattern. The upper line is broken, so as we expect in classic pattern the price will go up, the a retest to the upper line, then it's time for BTC to move to 20,000 level.
-2- My other analysis is done by Harmonic Pattern (AB = CD). As you can see the purple pattern is an AB = CD pattern, that price has go beyond the "B" level, so the Fibonacci gives as three levels of targets you can see in the upper side of the chart that become BTC's PRZ (Potential Reversal Zone).
Fib 1: around 20,000
Fib 1.272: around 20280
Fib 1.618: around 20600
-3- You can see the blue bearish trend line in chart and this obvious how price has broken it and turned into a bullish movement..
I add one more detail to these reason. You can check the RSI oscillator that is completely above the trend line, that shows us a good bullish move..
I believe this time BTC is going to strongly hit the 20,000!!!
But for being less risky I decided to put my stop-loss on 18900, But if you don't like it you can try 19200..
This is my idea.. What do you think???
Note
I wanted to add, your likes, comments, shares and follows will give me a lot of energy. So I'll be so happy if I you do these if you liked the idea.. :)Trade active
I wanted to add a simpler chart for you..Note
---Short Term Comment---Target on fib 1.272 (20282) is more likely to happen now.. This target is for medium risk traders.. I suggest low risk traders to take profit in fib 1 (20000).
Trade active
Target 20000 and 20400 is hit!!!let's wait to check out the price action for target 20600???
Trade closed: target reached
All targets are hit!!! congratulations!!BTC All Time High is now 20799!!!
Now it's time for shot to get the BIG TROPHY!!!
Related publications
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.