Currency Pair: BTC.USD Time Frame: Weekly, Daily & 4hr Predicted Direction: Short
Live BTC.USD updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
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Should you be looking short i would also consider awaiting a break of the $8777 level given the 4hr TF minor 4hr 50EMA and ascending trendline support.
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Additional harmonic structure to consider when identifying reversal areas.
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Keep an eye on the Daily timeframe over the weekend, should we break the $11,300 level it's likely we will see a quick acceleration towards $14,000
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Given the 4hr 50EMA and ascending trendline support, should price break and close below $9400 i see a short opportunity.
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4hr double top forming at descending trendline resistance, still nothing to trade on this setup given the structure in both directions.
You're really keeping up to date with your bitcoin charts man. I have learnt so much over your charts in the last 2 weeks, you are one of the two people I follow :D
UnknownUnicorn180388
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@XanderCrypto, Really appreciate the comment, i hope you continue to benefit and profit.
Now that resistance have been broken where is d next resistance and when can I buy?, it is so boring holding fiat currency
SadPony
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@Dirich, right now 10700/800 and a stronger one 11000. I'm waiting for a pullback to get back in
UnknownUnicorn180388
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@Dirich, Unfortunately the art of trading / investing is boring, if it's exciting it means there are emotions involved.
I'm personally sitting back waiting.
jimo79
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@tomhall, what has been the point of sitting back waiting as its gone up from $6000 to almost $11000 now. What exactly are you waiting for? Do you just trade in shorts?
UnknownUnicorn180388
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@jimo79, I am going to explain in an indepth post over the week in regards to the future of these crypto's which may make more sense.
I trade in either direction should there be a valid trade setup.