This chart represents my short-term view for BTCUSD.
I will wait to buy, everything indicates that it will rise much higher in a few months, so I will try to buy at the lowest price as possible.
Remember, investing in cryptocurrencies involves very high risk, as prices have been extremely volatile.
Note
Panic time, this is good for us!We could have a rebound at the current price and a bigger correction. If this happens, we will wait for fib. 2.618 (9362.85).
I will keep analyzing the pair to find the best "Momentum" to buy.
Tip: you can use a WMA (200, close) in order to identify the "hidden" resistances and supports.
Remember, investing in cryptocurrencies involves very high risk, as prices have been extremely volatile.
Note
The pair had a rebound at the price mentioned above. Now, I am waiting for a bigger correction.I am looking for an ABC wave that involves these values: 11234.03 (end of a micro H&S on H1, not activated yet) and fib. 2.618 - 3, as you can see in the image above.
Tip: investing through TA in cryptocurrencies is extremely difficult to do. Don't do it if you are a newbie, even watching my analyses.
Note
As mentioned earlier:Could it be a bull trap? It is difficult to know at this moment, we have to wait for more signals.
I hope you are on the wave :-). Anyway, pay attention to the base of the triangle (or previous key levels that I talked about them) if you want to try to enter again. There could be more opportunities.
I will keep analyzing the pair to find more chances to buy.
Tip: Sometimes, in the symmetrical triangles false breakouts are formed, as shown in this chart (GBPJPY):

Note
Tip: technically, the TP of this divergence is the height between the previous higher high and the higher low. In the image that I show you, it coincides with the breakout of a bullish channel, whose TP is the height of the channel, taking as an initial point of measurement the exact point of breakout.
Note
This could be good for us: goo.gl/xZQX3TI will keep analyzing the pair.
Note
Ups, the 1 is "H&S" and the 2 is "Inverted H&S + Anticipated V-shaped reversal".Note
If you enjoy my analyzes, please, press the Like button and / or follow me to receive notifications.Note
Until there are no reversal patterns, we remain bearish. If you have an open bearish position, my advice is to close it or take part of the profit.Remember, you are at your own risk and investing in cryptocurrencies involves very high risk, as prices have been extremely volatile.
If you got profits with my analyzes, please, press the like button.
Note
The previous image is a M15 timeframe.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.
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.