BTC shorters from 7000-7100 levels are not squeezed yet!
Hello.
Recent days were pretty indecisive for cryptomarkets, but the fact is that this indecision was quite specific. Whole image presents accumulation phase, fractals building patterns. Bearish patterns could lead to fakeouts at this stage, like it did at the beggining of April.
Presented analysis shows buy opportunity with tight stop loss below trading channel and profits located at fibo resistances. Touching upper resistance of trading channel could lead to another effects and We will track them carefully.
Long term analysis is prepared for You in my previous BTC idea and it supports current one:
Recent days were pretty indecisive for cryptomarkets, but the fact is that this indecision was quite specific. Whole image presents accumulation phase, fractals building patterns. Bearish patterns could lead to fakeouts at this stage, like it did at the beggining of April.
Presented analysis shows buy opportunity with tight stop loss below trading channel and profits located at fibo resistances. Touching upper resistance of trading channel could lead to another effects and We will track them carefully.
Long term analysis is prepared for You in my previous BTC idea and it supports current one:
Note
Profit #1Note
Fibo 0.236 crossed, expected meeting with upper resistance of channel.Note
Note
Possibility for correctionNote
0.236 fibo didn't hold, return to blue support could occur.Note
single seloff seems no hurty !Note
0.236 fibo retest once more, big selloffs seems negligible while bullish signals coming to drive the market crazy. There is some possibility for correction, but good profits very often come quickly!Note
Small pressure is not damaging, 2 scenarios for next movement. Price lies on 0.5 fibo, now will pick up decision if retesting blue support is needed.Note
Bear trap, back to pushing up, We experience pretty positive momentum these daysNote
Very nice accumulation phase, this time i am pretty convinced it will push up to profit 2 zone.Note
Position is in danger! Price could meet with potential resistance zone! Track carefully this spot to book profits.Note
Time to book profits! Dangerous breakouts.Trade closed: target reached
Note
Longing is obviously over long time ago, I would just to encourage You to check my mid-long term analysis on BTC in this idea:
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.