Hello All,
After another successful trade with awesome profits I am back with some more updates.
First quickly, I would like to introduce new indicator I have been working on, this indicator gave pretty awesome long and short signals till now on 1hr BTC .
Now for TA, as seen in 4hr chart I see really well structured triangle formation. This in itself is a neutral pattern and can break to any side. For upside we have target at 14800 and for down side we have target at 6500.
As of now BTC has been getting resistance from 377 EMA (Blue) and support from the baseline of the triangle pattern .
In addition we have 4hr Death Cross just around the corner (White arrow). Which can put enough pressure on BTC to break down.
If BTC starts to get comfortable in 9800-10100 zone that will indicate the weakness in BTC and break to down side.
To avoid this death cross and break down, BTC has to make a significant move upside SOON, at least towards 10600-11200 zone.
Not all is doom and gloom:
I am not worried by this bearish structures, as BTC on long term is still looking bullish .
Here is the Inv-BTC where we can see the clear bear flag which remains valid even if BTC drops to 7000, any lower than that will be bad and from there I can start to get bit worried.
Till then this is just a nice correction.
FYI: for this bear flag we have target at 20150.
I will wait for next trade to present it self,
till then, Happy trading and happy weekend,
Chao...
After another successful trade with awesome profits I am back with some more updates.
First quickly, I would like to introduce new indicator I have been working on, this indicator gave pretty awesome long and short signals till now on 1hr BTC .
Now for TA, as seen in 4hr chart I see really well structured triangle formation. This in itself is a neutral pattern and can break to any side. For upside we have target at 14800 and for down side we have target at 6500.
As of now BTC has been getting resistance from 377 EMA (Blue) and support from the baseline of the triangle pattern .
In addition we have 4hr Death Cross just around the corner (White arrow). Which can put enough pressure on BTC to break down.
If BTC starts to get comfortable in 9800-10100 zone that will indicate the weakness in BTC and break to down side.
To avoid this death cross and break down, BTC has to make a significant move upside SOON, at least towards 10600-11200 zone.
Not all is doom and gloom:
I am not worried by this bearish structures, as BTC on long term is still looking bullish .
Here is the Inv-BTC where we can see the clear bear flag which remains valid even if BTC drops to 7000, any lower than that will be bad and from there I can start to get bit worried.
Till then this is just a nice correction.
FYI: for this bear flag we have target at 20150.
I will wait for next trade to present it self,
till then, Happy trading and happy weekend,
Chao...
Note
I posted this idea and BTC made 450$ move upside ... hahaIt has to maintain this momentum in order to avoid the 4hr Death cross, if this happens we are looking v. bullish.
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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.
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.