BTC/USD Possible Break from ATH Downtrend
Updated
I believe we are gonna test the downtrend line once more.
High chance for rejection. Bearish feeling overall.
First chart publish, open to all comments.
High chance for rejection. Bearish feeling overall.
First chart publish, open to all comments.
Trade active
My wave count is shit I know, but I am surprised (pleasantly) that I actually managed to predict a rejection at 10.4k... 10.2k resistance did not work as support, gave away easily... lets see how this keeps going... soft bounce at 9.8k???Trade active
BTC acting bullish, bounced of .618 at 10.04kTrade active
Moving down slow and steadyTrade active
Expected bounce at 9.8k (9,85k to be exact).... shouldnt go much over 10k...Trade active
Bounce came in quite strong it seems... fighting to get over the actual down trend line from 10.4k, if it gets over 10.1k, this might invalidate my chart... :/Trade active
Lets see if it breaks 10.2k, seems very bullish...Order cancelled
Well it seems back to the drawing board...Trade active
Well somehow BTC is sort of following my chart... lets see if it makes a run at the ATH downtrendline...Order cancelled
Doesnt look good for BTC... it should be going down within the a few hours... dragging everything along the way... well, you all know how this bots are so coordinated...Trade active
Well it seems to be back on track...Trade active
Well I am very surprised I managed to track BTC movement so far...ATH downtrendline is currently located at 10.8k... my line is incorrectly drawn, hence my overshot target at its attempt to break it... if broken bullish market resumes... if not then we should head down quite a bit... the double cancelation of this trade shows a lesson that has been hard for me to learn... PATIENCE... to let a trade play out... and not to panic... the panic bit would be sorted if my exchange offered stop-losses, but they dont... most of my losses have usually happened for that reason, I get in a good trade position, but the trade out...
Lets se what happens within the next few hours...
Trade active
Strong rejection at the trendline... will bulls pull back a little, recharge and try one more time?... or make a strategic retreat to the 8ks...Trade active
Interesting... seemd we are reaching the end of Wave 5... should we retrace down some ABC soon?
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.