Review my first TA - Bitcoin A B C correction pattern on daily
Well, my first post. Not sure if it's any good.
I see an A B C pattern on the daily BTC-USD chart. Could be the last A B C correction of the downtrend that started from the ATH Dec 2018 before BTC will start a new uptrend to a new ATH.
I currently see two options:
1. Bullish - BTC will stay above 6350, and will move between 7000 and 6350. It will break above 7000 somewhere in October.
2. Bearish - BTC goes below 6350, in which case it can fall to around 5400 to form a complete A B C, and will need a significant amount of time (months) to get back up. In this case, it could be that 2018 will not see a new ATH, and i would be skeptic about calls of BTC reaching 20-30k this year.
Not sure if this TA is any good or just plain rubbish. But i'm just trying to get the hang of it, so feel free to comment on any mistakes or false assumptions. Just learning here !
I see an A B C pattern on the daily BTC-USD chart. Could be the last A B C correction of the downtrend that started from the ATH Dec 2018 before BTC will start a new uptrend to a new ATH.
I currently see two options:
1. Bullish - BTC will stay above 6350, and will move between 7000 and 6350. It will break above 7000 somewhere in October.
2. Bearish - BTC goes below 6350, in which case it can fall to around 5400 to form a complete A B C, and will need a significant amount of time (months) to get back up. In this case, it could be that 2018 will not see a new ATH, and i would be skeptic about calls of BTC reaching 20-30k this year.
Not sure if this TA is any good or just plain rubbish. But i'm just trying to get the hang of it, so feel free to comment on any mistakes or false assumptions. Just learning here !
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