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Bitcoin, Complicated situation but this is a roadmap / plan!

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Dear friends!

I have made a new analysis of Bitcoin. The situation is a little more complicated than it seems.
BTC moves in an upward trend channel and then the trend at this timeframe is up. This is because we make bottoms that are higher every time as well as tops which are higher.
Twice whales or big funds have intervened to support the price. So these were not pump and dump movements in retrospect but manipulated prices.
The huge volume testifies that these were not small investors who set up this action. So the stakes are clearly higher for the larger funds.

Plan:
Stay long as long as the price stays in the trend channel with a stop (at the moment) of 35524. First target is 38500, then possibly a drop back into the rising channel and then another attack on the blue trend line which has then also become an inverted head shoulder formation. If there is a breakout above and a retest, expand positions as the next target is then 45000. Possibly the old ATH will then also be retested.

The green trajectory is the possible scenario. A breakout from the trend channel a first sign that the trend has been damaged. The stop protects against a larger drop to 31000 in the first place.

The breakout from the trend channel is dangerous in several ways so you are warned about that. It is not a simple trendline break.
1. We then end up at the neckline of a head end shoulders formation shoulder formation
2. We fall out of the large Rising wedge with points to a target of 31000 USD.
3. The rising trend is broken with a lower bottom and the trend is reversed.

Looking at tge green clusters where big funds bought it would be strange if the price would now go below these clusters. But again, if it happens the trend is reversed.

Dear friends, trading without a stop is a guarantee for big losses in this manipulated volatile market. Make sure to use them!

Please post your reactions and thoughts on this analysis so we can start a interesting discussion! Also check my post about the RSI which has been only lower 4 times in the history of Bitcoin on a 3 day timeframe.

Happy trading and good luck dear friends!

トレード稼働中

UPDATE

Dear friends here another update.
I have redrawn the trend lines. This is something I do often because prices regularly go to extremes. We see that the green cluster is providing support right where the big guys have been executing their buy orders.
We also see the big bullish falling wedge.
If price tocuh the purple neckline then we have a full head shoulder formation. But note. This is only valid if price drops through the neckline.
Otherwise the upper trend line of the wedge will be activated with a target of 38500 USD.
By the way, see how the green cluster give good support. The place where the whales bought Bitcoin. They want to protect their position but put you on the wrong side!

Have fun trading friends!

The breakout of the wedge is a fact now :-)

Probably this will happen because we still have6 months to go in the 4 years cycle.

Looks good!

Dear friends,

Just see this inv HS froming on the 5 minute timeframe.
Target last top at 38500 - 39000.

Enjoy!

Dear friends!,

I just woke up and see we are forming a diamond pattern

important update

Dear Friends.
I see the following things.
BTC is in a small diamond pattern and at the same time an inverted head shoulder formation is forming. Currently the right shoulder.
We also see a descending trend channel in orange.
Volume is currently exactly at the neutral point with 35600 and 38000 as extremes

How to respond to this situation?

Keep an eye on the diamond which can give direction as to whether we drop further or rise between 35600 and 38000
3 possibilities can follow:

1. Green trajectory, BTC completes the inverse heads shoulder formation. After that we will see if the neckline will break or not.
2. Price drops through the diamond and we are then at the bottom of the blue rising trend channel. 3. Then we go back up towards neckline OR we continue to drop down.

Dear friends, I am not always behind the charts so analyze yourself as much as possible. Please keep an eye on levels and I hope this update is of some use to you.
Remember, you don't always have to be in the market. Sometimes the sideline is the best place and with patience you can then pick the best place like a sniper to go long or short with the best risk reward.

Good luck dear friends!

Here a close up screenshot.
Succes friends!

Dear friends,
I do not believe we get that neckline breakout this time. So I can stronly advice you to go long ONLY with a clear breakout above the neckline with high volume and a closing bar. Buying at the moment the breakout occurs can result in losses because it can be a bulltrap as already happened so very often.
They way to go long on Bitcoin is wait for the neckline to break with volume, wait for a re-test of the nackline and than you have less risk.
Happy trading dear friends!

Wedge
Dear Friends,
BTC broke out of a bearish rising wedge
Target in the chart.
Good luck friends!

Just a note
Look at this ALT coin KMD USDT
A nice christmas tree. ALTS are just thin air. When there is a hype everybody want to enjoy the ride but if it was real value you would not see this.

手動でトレードを終了しました

Traders, with the breakout of the wedge the position was closed with profit but the new move out of the wedge will need new analysis.
New trades will be in a complete new post and not continue here.

It is good in this kind of markets to be on the sidelines. Personally I do not like what is happening to the ALTS and that is in fact also not great news for Bitcoin who suffered its worst perfoming month since 2011! It is certainly not always needed to be always in the markets

Wish you all good trading and splendid profits!

Wish you good profits and succes!

Price bitcoin at this moment 11/6/2021:
36835 USD
Target:
Between 34800-34850 USD
My idea, no trading advice!

Dear traders,
My price target which I made on 11-6-2021 36835 and with a target between 34800-34850