Bitcoin Daily ViewHello Traders,
I hope you're fine !
Remember my Bitcoin analysis !?
Last week in the Fib View analysis i showed you what was possible for Bitcoin !
And if you remember well, i told you that the 10 000 $ price level could be a sellers area !
Indeed, Bitcoin didn't like this area very much !
What happened on the 10th May 2020 !?
I've heard from a Trader that apparently some whale exited at 5PM California, with 2M batches of sell orders during the middle of the night.
But, back on topic now !
Today, I have something different for you !
Without indicators, without Fib retracement or whatever.
Not because i don't like them, Just because sometimes it's so good to have a simple view, a clear view !
So, the first thing i want you check on my chart is the ellipse !
Why !?
Because inside the ellipse there are important things which will define the 3 next potential scenarios that i'm gonna explain !
Indeed, the candles in the ellipse are important !
The candle of the 10th May closed with a down wick.
The candle of yesterday closed with two wicks (up and down) & a small body.
It's not exactly a Doji because the open price is not the same as the close price (remember OHLC), But it's some kind of Doji !
The candle of today is actually bullish !
After the small crash on the 10th May We have a possible bullish candlesticks pattern but anyway we have to be careful !
Don't worry you'll understand what i mean after have reading my 3 next potential scenarios !
1st scenario :
Bitcoin could goes up again till the 10 000 $ price level.
If it breaks this area you could go Long and find an entry point at 10079.00 $ which was the highest point last week.
If BTC don't break this area you can prepare yourself for a second pullback & GO SHORT with an entry point just under the sellers area at 9650.00 $ !
2nd scenario :
Bitcoin could make a pullback on the Uptrend line & then goes up till the 10 000 $ price area too !
Here you may check for an entry point at 8550.00 & GO LONG till the 10 000 $ level.
At the 10 000 $ level maybe think about take your profit then wait & pay attention for a potential pullback too !
Remember BIG SELLERS love this area and BTC don't !
But if BTC don't make a pullback and break the area you could find an entry point just as i said in the 1st scenario & GO LONG !
If BTC make a pullback you could find an entry point just under the Sellers area and GO SHORT (same as the 1st scenario too) !
3rd scenario :
Bitcoin could also goes down till the Uptrend line and break it !
In this case you just have to find an entry point around the 8000 $ price level and GO SHORT !
In short, the 1st scenario & the 2nd scenario have important common points but they are a little different !
The 3rd scenario is more subjugated for a Bearish scenario.
Now, Before closing this analysis i would like to share something with you !
I don't have a crystal ball, not like many traders pretend to have on trading view or whatever place on the net !
When you see somebody is telling you that this asset is going to do this or this it's only bullshit believe me !
The past and the present showed me the true & the reality of the market so much time !
Nobody can't predict what the market is going to do and it's why i have some completely different views with different scenarios.
I always check what the price did on the past and what it is doing now in order to propose you the best views & scenarios
as possible as i can.
Because i really believe it's the best way to success in investing.
It was my message for you & i really hope it's gonna help you !
Be different from the others, Just be yourself !
Ok, So it's all for this chart analysis on the Bitcoin !
I really hope you'll like it !
Please don't forget to support me by a following & a like !
Thanks & see you !
