Bitcoin | On Way to Test 9k Mark again
Updated
Lets jump directly to TA.
My Last TA was video, in which i had expected it to first break support level of 8600 n then test 8300.
It did exactly(PS: not bragging, i do accept my mistakes), but i had expected to give more force to 8300 support level to break. But it didnt try much, and it is trying to move up again.
On chart u can see again it has strong resistance of 8600 . In my opinion, it should be able to break 8600 resistance to test a new resistance level of 8800.
From 8800 to 9000, it is going to be really difficult journey, no conclusion on that, there will be multiple fire fights between Buyers n Sellers. Just my opinion, buyers will loose again to break 9000(not sure , its trading anything could happen). So 8800 to 9000 is no trading zone.
Just dont enter in trading market when bitcoin will be in 8800 to 9000 there will be many false signals, some TA will give buy , some will give sell.
Basically , it will be decisive zone.
On long term, if u see, BTC is trying to form symmetrical triangle i.e.. HH n HL, u can see that with black trend line.
Although people say symmetrical triangle is continuation pattern, but I disagree, i have seen this pattern many times only to be proven false. So any further conclusion or TA will be after the completion of symmetrical triangle.
Short Term: Buy now and sell at 8800
Long Term : Hold
PS: All the opinions are mine and mine only, i am no way trying to influence your trading decision.
Its your money, you have to decide what u do with it.
If you like or agree the idea, dont forget to hit like and follow.
If you have comments or feedback or questions, please feel free to post in comment section.
Thanks
KryptoTimes
My Last TA was video, in which i had expected it to first break support level of 8600 n then test 8300.
It did exactly(PS: not bragging, i do accept my mistakes), but i had expected to give more force to 8300 support level to break. But it didnt try much, and it is trying to move up again.
On chart u can see again it has strong resistance of 8600 . In my opinion, it should be able to break 8600 resistance to test a new resistance level of 8800.
From 8800 to 9000, it is going to be really difficult journey, no conclusion on that, there will be multiple fire fights between Buyers n Sellers. Just my opinion, buyers will loose again to break 9000(not sure , its trading anything could happen). So 8800 to 9000 is no trading zone.
Just dont enter in trading market when bitcoin will be in 8800 to 9000 there will be many false signals, some TA will give buy , some will give sell.
Basically , it will be decisive zone.
On long term, if u see, BTC is trying to form symmetrical triangle i.e.. HH n HL, u can see that with black trend line.
Although people say symmetrical triangle is continuation pattern, but I disagree, i have seen this pattern many times only to be proven false. So any further conclusion or TA will be after the completion of symmetrical triangle.
Short Term: Buy now and sell at 8800
Long Term : Hold
PS: All the opinions are mine and mine only, i am no way trying to influence your trading decision.
Its your money, you have to decide what u do with it.
If you like or agree the idea, dont forget to hit like and follow.
If you have comments or feedback or questions, please feel free to post in comment section.
Thanks
KryptoTimes
Note
Target 1 achieved it broke 8600Note
But struggle is not over yet, for 8600. It seems to heavy resistance for upward, but we are still in favor of main resitance at 8800 not 8600Note
It seems the real battle is b.w Lower of First resistance and Upper of Yellow Resistance.Buyers are still strong.
we are still optimistic about Buyers winning the battlerground.
Note
Trade closed manually
I am closing my trade, after the recent heavy sellling pressure and lack of no buyers.100/usd , which is hardly few dollars for me. :P atleast no loss.
Trading is not about maximum profit but minimum loss :)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.