Updated

We are hanging between Bulls and Bears, What is next?

Look at the daily chart. We are between purple and pink line and red line just crossed pink line .

Purple and pink line is getting parallel that means we are in sideways and may move between 6800 - 8000.

So here is short opportunity around 8k and long around 6.8k.

We give more accurate calls and exact target in our premium service. But our monthly spots are full for now and will reopen in at end of this month.

For yearly spots you can still PM me. We do not only give accurate calls there but also teach you to do analysis and become independent.

Soon will post more detailed analysis

Note

7500 Level is crucial to hold to go up.

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On 4H chart BTC is testing Blue line, it needs to cross and stay above to continue up.

Note

On 15 mins chart, looks like a rising wedge is building and we got rejected buy upper line, we may come down for sometime. This wedge may take us slowly to 8k.

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BTC getting support on 55 SMMA after showing weakness to break upside, wedge is still active :

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You can see in following chart , it has broken the wedge and testing the lower line , Those who shorted at 7.7k , have already made some profit. BTC is looking bearish and weekend is coming so stay alert :

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You can see after testing lower line of rising wedge, price fell , if you shorted there, you may have made some more profit. This is how our premium members make profit consistently .

Note

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Note

Some guys are asking for long term perspective to downside , from here if we look only at downside then we should look at the bear flag building. We are not going straight down but to downside what we can expect if this bear flag playout on 4h chart

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On 15 mins chart , looks like we are in giant rising wedge so keep this in mind too:

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On 15 mins chart if this bear flag playout then will take us perfectly to lower line of above rising wedge :

Note

Price bounced back and bear flag on 15 mins chart invalidated .

Note

If you know how to trade flags then you would not have opened any trade in context of that bear flag as it did not broken lower line of flag so no trade, no loss.

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If you look at teal color line in below chart, it has been highly reactionary so keep that in mind in future :

Note

And another one at top:

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BTC rejected again by upper high reactionary teal line, It needs to go above and hold there to test 7775 again. On lower side it can come to test 7575 again. It needs to hold 7500 level to retain bullish mode.

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BTC got support again on lower line of the highly reactive lower teal line, if you shorted it when it rejected from upper line, you must be in some profit. Not it got rejected by pivot point and coming to test the lower line again.

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So that rising wedge broken to downside. At the moment it broken that highly reactive teal line and lower line of rising wedge within a single candle, you could have gone short, if yes then you would have made good profit. Target was S3 max for this move, if you are longing from 7.3k , do this with stop loss, as breaking this support will push it towards 7k-6.9k .

Note

Actually it broken teal color line, pivot and wedge support line in a single candle, which was screaming loudly to go short.

Trade closed: target reached

We reached 6.9k, target reached. Here is new idea and new targets as per current scenario . Click on chart to open it:

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