Hello fellow traders,
Here to an other very simplistic yet very efficient BTC analysis on a daily chart.
BTC is now giving us very good sign of a trade opportunity that will be develloping in the next coming days. We clearly noticed that cup & handle formation wich, if breaked upward, will be our sign to jump on the bull. I've been very bearish on BTC lately because I consider the whole market sentiment to be negative proven by the downtrend we've known for a couple month. BUT, as hunter we adapt to the likeliest scenario and to how our prey behave based on the information we have. And what I am seeing are healthy sign of a strong consolidation. Bear and bull seems to be in equal power fighting for ground right now and you should be readying your rifle to snipe the bull if he comes out victorious.
To be a little more technical to appeal to your inner analysist. Starting with SMA. SMA50 and SMA200 are now very close together and have been for the past weeks + price is now trading over and finding support on both of them. This is a very healthy consolidation sign and a cue to be on the watchout. Jumping next to the Bollinger Bands. Daily BB tightened up around our cup handle + are now moving upward and are also appearing to open up. This is again a very healthy consolidation sign and an overall sign that might mark the end of the downtrend. Finally we have our overall and very clear C&H formed that might develop in a clean breakout.
Remember to stay patient, your bullets are precious.
Your beloved,
Zip.
Here to an other very simplistic yet very efficient BTC analysis on a daily chart.
BTC is now giving us very good sign of a trade opportunity that will be develloping in the next coming days. We clearly noticed that cup & handle formation wich, if breaked upward, will be our sign to jump on the bull. I've been very bearish on BTC lately because I consider the whole market sentiment to be negative proven by the downtrend we've known for a couple month. BUT, as hunter we adapt to the likeliest scenario and to how our prey behave based on the information we have. And what I am seeing are healthy sign of a strong consolidation. Bear and bull seems to be in equal power fighting for ground right now and you should be readying your rifle to snipe the bull if he comes out victorious.
To be a little more technical to appeal to your inner analysist. Starting with SMA. SMA50 and SMA200 are now very close together and have been for the past weeks + price is now trading over and finding support on both of them. This is a very healthy consolidation sign and a cue to be on the watchout. Jumping next to the Bollinger Bands. Daily BB tightened up around our cup handle + are now moving upward and are also appearing to open up. This is again a very healthy consolidation sign and an overall sign that might mark the end of the downtrend. Finally we have our overall and very clear C&H formed that might develop in a clean breakout.
Remember to stay patient, your bullets are precious.
Your beloved,
Zip.