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BTCEUR trade ideas

Massive breakout, new fib retracement drawnedHello Wonderful person! We saw a very good break out and turned the resistant line in to proven support line, which is awesome! There are a couple of concerns with some indicators that momentum is fading off, but lets see if there will be more strength added this week. (dont forget to check the RSI). Interesting pointers are the new fib retracement that almost perfectly matches the new support line, and the current trendline is holding. It is not unheard of that we might see a correction down to the next trendline, around 12500 Euro.
by egilagre
Break trendline or break resistant line?Hello wonderful person! Now it is breakout point one way or another. Either the current trendline will hold and the resistant line is broken. OR current trendline is broken and resistant line is holding, which means next price is 12200 Euro; but might bounce at 12950 Euro (depending on the strength) My indicators point more towards a correction, and we will bounce at 12960; and might continue to the next trend line at 12200 euro. Have to wait and see what the indicators tell at that time. What is yours? As always, stay safe and sane, happy trading all!
by egilagre
Current Trendline closing in the tough resistant lineHello wonderful person! I am trying out a new way of delivering messages in the articles by having more text and symbols in the chart itself rather than writing them in the article. Hope it will be a more efficient way, but I am open for suggestion in the comment. Small conclusion about a key factor I am watching now, is the wedge between resistant line and the current trendline. One way or another, we will have a breakout from this in the next couple days (within this week). As always, please stay safe and sane in these times and happy trading!
by egilagre
correction to 12000 euro?Hello wonderful person! Incredible rally in the stock market due to vaccine news, and this might hold up to end of december. Bitcoin reacted as with gold, it took a hit. Based on the chart, there are some spinning top and a doji forming, which could form a correction. If that happens, we could look at a price target at around 12000 euro, and if it is still a bull run; this will hold. If that 12000 breaks, we are looking at a further decline to possible 11000 euro.
by egilagre
Reputation points needed to participate in chat Hello everyone, I joined tradingview a few days ago and just want to get some points so I can join live chat as this are very exciting times for crypto and BTC especially and as a complete noob I have a lot of questions which I would like to ask in chat on the go, to help me better understand price movements. Wanted to attach an image of my current "analysis" or rather practice of predicting BTC-EUR direction, but it wouldn't let me... So maybe next post. Thanks and have a good one! Edit: Just saw that it does attach my chart also, so yeah. #first_post_problems
by andrazzh
RSI Divergent, is BTC in for a correction?Hello beautiful person! I am up tonight watching the U.S election and witness live the effect it will have on the BTC during it. If you have read my previous posts, you know I have been writing about a second wave of the virus and lockdown; which will in turn affect the market negatively. I expected the second wave and more effect in September/October, so it seems I missed it there in months; but at least in Europe we are in a new lock down. How will this affect BTC? I believe that BTC is still correlated to the stock market in the sense that when we have a sell off in the markets, we will also have sell off in BTC. However, BTC will gain again shortly after. Short term bearish, long term bullish. - check the chart for more info and trend lines. - check the divergent in RSI. - added fibonacci retracement indicator for the last "bull run". Have a great night everyone, and stay safe!
by egilagre
The two most two likely scenarios for BTCSince we closed above the 2019 highs, it is very unlikely that we fall back below that levels again, at least not in the immediate short term. It seems obvious that we move higher. But it would be equally unlikely that we wouldn't re-test those levels in the near future. The question is now, from where we might retrace. The RSI is still looking good and leaves more space to the upside, so from my point of view, scenario B seems more plausible. Looking forward to your comments.
Long
by senolito