Long

BTC/USD Short term Targets (Swing Trade and Scalping)

Updated

Channels under channels. BTC is showing a big FALLING Wedge pattern which is a Bullish pattern in Classical Technical Analysis. It was speculated earlier that the price can go to the mid 6ks. Demand under the green zone is high. I AM EXPECTING MORE BULLS AND BUYING PRESSURE UNDER THESE LEVELS will be high too. People are screaming about 3k 4k again that is the main reason why it won't happen (Just my opinion) Nothing to fear, Good days are coming. In the short term it is looking bearish but eventually breakout is approaching. The idea is just a speculated move. I could be wrong. Do not just blindly follow this, try to learn charting if you are new and learn from your mistakes. You aren't doing anything if you are not making mistakes. Breakout in BTC is imminent. If you like my ideas do follow and shoot a like which will motivate me to post more often.
Thank you
I wish you all good fortune.

Note

That was a quick fall, sooner than I expected.

Note

As speculated. The move was 100% rightly caught, rallied a bit sooner though.

Note

We broke above the blue resistance line. 7500 and 7800 needs to break first.

Trade active

We didn't break the 7800 mark but we reached around 7697. Of course I didn't sell there I closed 65% of my position around 7522 (average) and added more position around 7080 and 6930, My average entry is 6740 now.
I'll add up more if we go below 7k, I am gonna close either if we reach 8k or It breaks the 6800 mark.

Trade closed: target reached

We reached 8k :) All Targets achieved.

Cryptorphic

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