Where are you going Bitcoin?
Updated
Hi guys!
This is my first TA. I'm still learnig, so take this please as an idea only.
I wanted to share with you this chart, because everyone is showing just the local, uptrending channel.
But this uptrending channel is inside the bigger channel, which is trending down, so after BTC will reach upper line, i think we will start to go down, and it may happen in the next 1-2days.
Look at the chart. We are moving down in these two yellow lines. Up and down, like these green, dashed one lines.
We were up at 17k, then down at 5,9k and now we are going to ~12k. What will happen next nobody knows.
But we are facing a resistance now. If we break it we may go higher, up to ~14k resistance. But we may also bounce off of the resistance and start to fall down within the yellow, descending channel, like the next green, dashed line.
Where will we stop then? Possible support is the main trend line, wchich is at around 3,5k. I don't think we may fall any lower, but if we will move still within descending channel, the possible down is at ~2,2k USD.
But please remember - this information is not a recommendation to start a short position. It's for educational purposes only.
Share with me your thoughts please :)
Thanks!
This is my first TA. I'm still learnig, so take this please as an idea only.
I wanted to share with you this chart, because everyone is showing just the local, uptrending channel.
But this uptrending channel is inside the bigger channel, which is trending down, so after BTC will reach upper line, i think we will start to go down, and it may happen in the next 1-2days.
Look at the chart. We are moving down in these two yellow lines. Up and down, like these green, dashed one lines.
We were up at 17k, then down at 5,9k and now we are going to ~12k. What will happen next nobody knows.
But we are facing a resistance now. If we break it we may go higher, up to ~14k resistance. But we may also bounce off of the resistance and start to fall down within the yellow, descending channel, like the next green, dashed line.
Where will we stop then? Possible support is the main trend line, wchich is at around 3,5k. I don't think we may fall any lower, but if we will move still within descending channel, the possible down is at ~2,2k USD.
But please remember - this information is not a recommendation to start a short position. It's for educational purposes only.
Share with me your thoughts please :)
Thanks!
Note
I am still waiting, and not sure are we going up or down, but the pattern seems to be identicalNote
We still haven't broken this yellow upper line on Bitstamp.I can see 3 scenarios. If we can break the channel, we go up. If not, we fall down.
Where will we stop? We have a lot of supports, but i think we can stop at trendlines. FIrst one would be at around 7,3k, and the second one at about 4k. Daily chart:
Trade closed manually
I created new topic with TA here 
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