BTC/USD - Trading Opportunity
Updated
Made considerable profits over the last 2 days with Bitcoin and some altcoins, and my V.I.P members followed my signals and profited the same! Well done to you all :-)
Bitcoin right now looks weak after a move down from the side-wards resistance line at 6830. Since breaking down, price has attempted a small recovery rally that in my opinion has ultimately failed. Price looks weak right now and I only see downside for the SHORT TERM. Price has just rejected the 20 and 50 moving average as resistance whilst giving a very strong dark cloud signal at the same level showing a strong and legitimate rejection to the upside.
Following the dark cloud signal, there was some upside, almost breaking the dark clouds range to the upside negating the bearish outlook, but then a large wick was produced, showing that the bears yet again defeated the bulls at this level. This tells me factually bears have been stronger than bulls for AT LEAST the last 19 hours, and I expect this to continue for the time being.
Any candlestick CLOSE above 6620 would negate this bearish outlook and my analysis would be invalidated. If this happens I'll keep the idea updated.
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts! :-)
I never ask anything from my supporters, but I do have a small favour to ask of you guys... If you see comments in the comments section that are trolling/insulting to me, or any other person who's contributing to the comments section, then please Flag/Report their comments right away so we can get rid of people that aren't contributing to this site in a good way. Let's work together to make this site a better place for everybody. :-)
Please leave a LIKE and FOLLOW. It motivates me to make more content!
Thank you so much.
Bitcoin right now looks weak after a move down from the side-wards resistance line at 6830. Since breaking down, price has attempted a small recovery rally that in my opinion has ultimately failed. Price looks weak right now and I only see downside for the SHORT TERM. Price has just rejected the 20 and 50 moving average as resistance whilst giving a very strong dark cloud signal at the same level showing a strong and legitimate rejection to the upside.
Following the dark cloud signal, there was some upside, almost breaking the dark clouds range to the upside negating the bearish outlook, but then a large wick was produced, showing that the bears yet again defeated the bulls at this level. This tells me factually bears have been stronger than bulls for AT LEAST the last 19 hours, and I expect this to continue for the time being.
Any candlestick CLOSE above 6620 would negate this bearish outlook and my analysis would be invalidated. If this happens I'll keep the idea updated.
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts! :-)
I never ask anything from my supporters, but I do have a small favour to ask of you guys... If you see comments in the comments section that are trolling/insulting to me, or any other person who's contributing to the comments section, then please Flag/Report their comments right away so we can get rid of people that aren't contributing to this site in a good way. Let's work together to make this site a better place for everybody. :-)
Please leave a LIKE and FOLLOW. It motivates me to make more content!
Thank you so much.
Note
I have read every single comment below just now and I highly appreciate everyones support with this idea :-)I will keep this idea constantly updated, and after reading all the comments I'm now more motivated to post more content than ever! :-)
Thank you for your support.
Note
Price broke higher thus invalidating this idea, HOWEVER I can see something new now and I'll be posting it shortly!No trade was executed and we had a nice day to watch the chart without rushing into a trade. Everyone is a winner.
Please leave a LIKE. I'd really appreciate it
Note
The dump is coming in nicely that I predicted, it just came in from the side-wards resistance instead of the weakness halfway into structure as predicted.Now can you see why I always say "wait for a retest before BUYING.". As you can see, it broke out and then became a bull trap for the noobs to get burned on.
Will be posting a new analysis on this one today! :-)
Please leave a LIKE. I'd really appreciate it.
Related publications
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.