EYES ON THE PREY!
Ok, so BTC reached our first target yesterday, and today it’s doing some natural correction, and this is expected. If you missed my latest analyses, the link to them are below, and remember to follow me to keep in touch! My twitter has some interesting stuff too, go there and check it for yourself!
At his moment the bears are struggling above the blue line zone, and the price is moving sideways, doing what could be an accumulation or distribution, we don’t know for sure. In any case, let’s see the daily chart:
The volatility is increasing, and the candles are getting bigger, if you compare with previous days. The good news for the bulls is that BTC found a support at the light blue line again, and the candle left a shadow behind. But, as I said in my previous analysis, I wouldn’t be surprised if BTC did a pullback all the way down to the green trendline again, and the bull trend would still be very strong in my opinion. Also, it’s nice to notice the candlesticks patterns I pointed using the black arrows, because we traded them all! Again, all the links below.
Now, let’s see the weekly chart:
Last week BTC failed in close a candle above the descending channel that has been haunting us for almost a year now, which was quite disappointing, but now it seems the bull have a real shot here. I’m naturally an optimistic person, yes, but I have a special feeling about BTC. If we escape this descending channel, the main target for this trade is the U$ 14k again (blue line), which means a 40% upside. I’ll not even talk about the U$ 20k, let’s keep our eyes on the prey, not the horizon, but either way, BTC has a lot of potential!
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
At his moment the bears are struggling above the blue line zone, and the price is moving sideways, doing what could be an accumulation or distribution, we don’t know for sure. In any case, let’s see the daily chart:
The volatility is increasing, and the candles are getting bigger, if you compare with previous days. The good news for the bulls is that BTC found a support at the light blue line again, and the candle left a shadow behind. But, as I said in my previous analysis, I wouldn’t be surprised if BTC did a pullback all the way down to the green trendline again, and the bull trend would still be very strong in my opinion. Also, it’s nice to notice the candlesticks patterns I pointed using the black arrows, because we traded them all! Again, all the links below.
Now, let’s see the weekly chart:
Last week BTC failed in close a candle above the descending channel that has been haunting us for almost a year now, which was quite disappointing, but now it seems the bull have a real shot here. I’m naturally an optimistic person, yes, but I have a special feeling about BTC. If we escape this descending channel, the main target for this trade is the U$ 14k again (blue line), which means a 40% upside. I’ll not even talk about the U$ 20k, let’s keep our eyes on the prey, not the horizon, but either way, BTC has a lot of potential!
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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