Bitcoin at Strong Support
Updated
Hello guys, looking deeply into BTC corrective pattern it has filled up with series of triangle formations.
In July 15th price breakaway from this major triangle to make a high of 8480$ and ever since then we had been going lower on each of the test on Neckline to this new high level(BLACK TRENDLINE).
Also, its observed that price showing serious respect to the NECKLINE of the previous triangle as each of the drop are been supported strongly with this trendline(PURPLE TRENDLINE).
Price is presently trading on the bottom trendline now and if the previous view and strength of this trendline is something to write about we should see major bounce from it to re-test the upper trendline which is suppressing all the BULL move.
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In July 15th price breakaway from this major triangle to make a high of 8480$ and ever since then we had been going lower on each of the test on Neckline to this new high level(BLACK TRENDLINE).
Also, its observed that price showing serious respect to the NECKLINE of the previous triangle as each of the drop are been supported strongly with this trendline(PURPLE TRENDLINE).
Price is presently trading on the bottom trendline now and if the previous view and strength of this trendline is something to write about we should see major bounce from it to re-test the upper trendline which is suppressing all the BULL move.
Join our discussion room for more about our trading ideas.
Do know that I appreciate you taking the time to read my posts and Please leave a LIKE and FOLLOW us for more updates. I would really appreciate it.
Thank you for your support.
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We have some buy setup on daily timeframe.Trade active
Previous view on BTCNote
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Bullflag on 1hr timeframe will this work out or fail again.Trade active
BTC finaly found its strength and the bullflag play out real well. this is great.Trade active
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Hi guys we need to be careful at this moment, reasons are:First if this move is for just mere correction the target is almost achieved which mean just wave abc the maximum target will be 3625-3700$.
But if the move is potential immediate reversal we are all hoping for then the target will be around 5200$.
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Formation of Bullish Flag and Pole is completed with its target achieved. Now we need to wait to confirm the next possible move for BTC.Thanks for following my updates.
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We pick up ETHUSD earlier also from here check it out.
Below is the chart for ETHBTC
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Ripple accumulation in progress it will have one more leg up soon
Note
XRPBTC drop to begin also as it need more correction for its last uptrend move.
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SKYBTC hitting potential bottom
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the way to the bottom seems so far, but for now we will trail it day after day to get to the bottom.Trade active
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