Bitcoinshort
BITCOIN (BTCUSD) (HIGH PROBABILITY BUY SETUP SOON)Hello traders,
Here we can see clearly the next move for BTCUSD, were using LTF for a clearer view of our analysis, while baring in mind its going to be a BULLISH move (uptrend) BUT were still in a BEARISH market, so we have to keep that in our mind while we trading this BULLISH move,
Keep a close eye on BTCUSD today,
Happy PIP hunting traders
Making a million - wedge on 15M!The price is in a rising wedge. Points 1-4 are formed. Unless the price breaks through the lower ascending black trend line, the price will rise towards point 5. Point 5 is in the orange triangle. Inside the triangle, it it plausible to look at a potential reversal and an entry point to the downside. Thereafter, I will be looking to take TP at point 6.
Bitcoin - Bear FlagWith the bad performance of bitcoin in this region of 20k I decided to sell the bitcoins I had previously bought, it was with an average price of 20,000 and I sold it in the region of 19,700 with a little loss.
Most likely Bitcoin is forming a bearish flag pattern that could take us all the way up to the price of 13k to 12k.
The objective now is to look for more entries at the bottom or wait for a trend reversal signal to buy again.
I'm also on the lookout for opportunities to short.
Symmetrical Triangle breakdown can take Bitcoin price to $17,000Bitcoin price was unable to hold the support line & printed a low $19,221 yesterday. A clear breakdown & retest of symmetrical triangle can be seen on the chart. Previously, on June 4th a breakout & retest was witnessed & then price rallied all the way up & met the target of 17%.
This time the distance of symmetrical triangle is 11.54%. If it follows the same pattern then price call fall till $17,094. This structure will be invalidated if 4H candle of BTC closes above $20,080.
Today, CPI reprot will be released. Market ca be highly volatile. Overall, chart looks bearish.
BTC Sell the break of the overall trend line.Bitcoin - Intraday - We look to Sell a break of 19497 (stop at 19908)
Trend line support is located at 19600.
Short term momentum is bearish.
A break of the recent low at 19500 should result in a further move lower.
There is no clear indication that the downward move is coming to an end.
Our profit targets will be 18507 and 18107
Resistance: 20000 / 21000 / 22000
Support: 19500 / 19000 / 18500
BTCUSDT - Daily Pennant Targeting 8kI have been posting a lot of shorts since I joined TV. But this is only because I have not seen any low risk longs since.
Here on the 1D chart we see that BTC is ranging within a pennant which looks like it's targeting $8,090.
This is the same scenario that has happened many times in the past couple of months already.
The blue area is where I believe the bear trend will turn around and become bullish. However, this could take weeks / months of trying.
I only use Fib for indicators and analysis. If you would like me to chart any other coins leave a comment 👍🏽
BTC Sell a break setup.Bitcoin - Intraday - We look to Sell a break of 20699 (stop at 21181)
Our short term bias remains negative.
Trend line support is located at 21000.
A break of the recent low at 20700 should result in a further move lower.
Our profit targets will be 19505 and 19105
Resistance: 22000 / 23000 / 24000
Support: 21000 / 20000 / 19000